Valuation Cap: The maximum valuation at which the SAFE will convert into equity. This benefits the investor by potentially giving them a lower price per share. Discount Rate: A percentage discount on the price per share at the next financing round. This ensures the investor gets a better deal than new investors. Conversion Trigger: The event that causes the SAFE to convert into equity, typically the next equity financing round. Pro Rata Rights: The right for investors to maintain their ownership percentage in future financing rounds by purchasing additional shares.