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<br /> Middle-Market<br /> M&A<br /> SurveyBook<br /> 2017 Survey of Key M&A Deal Terms<br /> March 2017 M&A SurveyBook: 2017 Survey of Key M&A Deal Terms | 1<br /> Introduction<br /> Seyfarth Shaw LLP is pleased to present the 4th edition of its<br /> Middle-Market M&A SurveyBook (“Survey”) which analyzes<br /> key transaction terms included in over 150 middle-market<br /> (i.e., transactions with a purchase price of less than $1 billion)<br /> private target acquisition agreements signed in 2016.1 The<br /> information presented is intended to serve as a guide to buyers,<br /> sellers and deal professionals on “what’s market” when<br /> negotiating private target acquisition agreements in what we<br /> expect will be an active 2017.<br /> The Survey focuses on key deal terms comprising the “indemnity<br /> package” included in almost all private target acquisition<br<a title="2017 Middle-Market M&amp;A Surveybook page 1" href="http://viewer.zmags.com/publication/f4efd8b8?page=1"> Middle-Market M&A SurveyBook 2017 Survey of Key</a> <a title="2017 Middle-Market M&amp;A Surveybook page 2" href="http://viewer.zmags.com/publication/f4efd8b8?page=2"> Introduction Seyfarth Shaw LLP is pleased to p</a> <a title="2017 Middle-Market M&amp;A Surveybook page 3" href="http://viewer.zmags.com/publication/f4efd8b8?page=3"> To be sure, each deal has unique facts and circu</a> <a title="2017 Middle-Market M&amp;A Surveybook page 4" href="http://viewer.zmags.com/publication/f4efd8b8?page=4"> Indemnity Escrow Amount Approximately 55% of all</a> <a title="2017 Middle-Market M&amp;A Surveybook page 5" href="http://viewer.zmags.com/publication/f4efd8b8?page=5"> Indemnity Escrow Period <12 14.63% 12 </a> <a title="2017 Middle-Market M&amp;A Surveybook page 6" href="http://viewer.zmags.com/publication/f4efd8b8?page=6"> Representation & Warranty Survival Period* </a> <a title="2017 Middle-Market M&amp;A Surveybook page 7" href="http://viewer.zmags.com/publication/f4efd8b8?page=7"> Carved Out Representations Broker's Fees </a> <a title="2017 Middle-Market M&amp;A Surveybook page 8" href="http://viewer.zmags.com/publication/f4efd8b8?page=8"> Indemnity Basket Type Approximately 91% of deals</a> <a title="2017 Middle-Market M&amp;A Surveybook page 9" href="http://viewer.zmags.com/publication/f4efd8b8?page=9"> Indemnity Basket Size True Deductible Basket Siz</a> <a title="2017 Middle-Market M&amp;A Surveybook page 10" href="http://viewer.zmags.com/publication/f4efd8b8?page=10"> Indemnity Cap Size Approximately 93% of deals su</a> <a title="2017 Middle-Market M&amp;A Surveybook page 11" href="http://viewer.zmags.com/publication/f4efd8b8?page=11"> Glossary Indemnity Escrow Amount The indemnity</a> <a title="2017 Middle-Market M&amp;A Surveybook page 12" href="http://viewer.zmags.com/publication/f4efd8b8?page=12"> Seyfarth’s Leading Middle-Market M&A Practice </a> <a title="2017 Middle-Market M&amp;A Surveybook page 13" href="http://viewer.zmags.com/publication/f4efd8b8?page=13"> The Seyfarth team “works with clients to help the</a> <a title="2017 Middle-Market M&amp;A Surveybook page 14" href="http://viewer.zmags.com/publication/f4efd8b8?page=14"> For More Information Suzanne Saxman </a> <a title="2017 Middle-Market M&amp;A Surveybook page 15" href="http://viewer.zmags.com/publication/f4efd8b8?page=15"> </a> <a title="2017 Middle-Market M&amp;A Surveybook page 16" href="http://viewer.zmags.com/publication/f4efd8b8?page=16"> Atlanta Los Angeles </a>