ADDITIONAL CONSIDERATION FOR THE OPTION AGREEMENT Sample Clauses

ADDITIONAL CONSIDERATION FOR THE OPTION AGREEMENT. As additional consideration for the Option Agreement, on or prior to the Effective Date of this Agreement, CNSI shall have contributed at least One Million Two Hundred and Fifty Thousand Dollars ($1,250,000) paid in capital to the Company and Company shall issue to the Securityholders a number of Shares of the Company sufficient to result in an equity position of five percent (5%) to The Regents, fifteen percent (15%) to Gladstone, and eighty percent (80%) to CNSI as shown in Table 1 below. TABLE 1 CAPITAL STRUCTURE* OF CAMBRIDGE NEUROSCIENCE PARTNERS, INC. (THE "COMPANY") FIRST ROUND: PRICE PER SHARE = $0.00064 # OF COMMON SHARES** TOTAL CNSI: 468,750 $300.00 GLADSTONE 234,375 $150.00 THE REGENTS 78,125 $ 50.00 ============================================= SECOND ROUND: PRICE PER SHARE = $1.60 # OF COMMON SHARES** TOTAL CNSI: 781,250 $1,250,000.00 ============================================= FIRST AND SECOND ROUND: TOTAL NO. OF SHARES TOTAL DOLLAR AMOUNT 1,562,500 $1,250,500 ------------ * Capital structure at an initial capitalization of One Million Two Hundred Fifty Thousand Dollars ($1,250,000) ** Fully Diluted