COMPENSATION FOR THE CONSULTING ARRANGEMENT. As part of the consideration for the services to be rendered under the Consulting Arrangement by Consultant and as compensation for the income he could have otherwise earned if he has not agreed to keep himself available to the Corporation hereunder, the Corporation shall pay Consultant compensation at the rate of Thirteen Thousand Seven-Hundred Fifty Dollars and 0 cents ($13,750.00) per month commencing February, 2005, and continuing each month thereafter for a total of Thirty-Six (36) months. All compensation due to Consultant under this Section 3 shall accrue until such time as the Corporation has sufficient funds.
COMPENSATION FOR THE CONSULTING ARRANGEMENT. As full consideration for the consulting services to be provided by Consultant during the term of this Agreement, the Consultant shall receive 1,010,943 restricted shares of the Company with piggy-back registration rights on the next Registration Statement to be filed by the Company and $10,000 in cash.
COMPENSATION FOR THE CONSULTING ARRANGEMENT. As consideration for the services to be rendered under the Consulting Arrangement by Consultant and as compensation for the income Consultant could have otherwise earned if Consultant had not agreed to keep itself available to the Corporation hereunder, the Corporation shall (a) pay the Consultant a total of $425,000 which shall be paid within ten days of the Effective Date in accordance with wire instructions provided by the Consultant to the Corporation and (b) on the Effective Date, the Corporation shall issue Consultant a Warrant to purchase 1,000,000 shares of the Corporation’s common stock at $1.00 per share in the form attached hereto as Exhibit “A”.
COMPENSATION FOR THE CONSULTING ARRANGEMENT. As consideration for the services to be rendered under the Consulting Arrangement by Consultant and as compensation for the income it could have otherwise earned if it had not agreed to keep itself available to the Corporation hereunder, the Corporation will issue to the Consultant eight million (8,000,000) shares of its common stock and four million (4,000,000) shares of its Series A Anti-Dilutive Preferred Stock. Prior to this Agreement, there were twelve million (12,000,000) shares of its common stock and six million (6,000,000) shares of the Corporation's Series A Anti-Dilutive Preferred Stock outstanding, including two million (2,000,000) shares of its common stock and one million (1,000,000) shares of its Series A Anti-Dilutive Preferred Stock that have been allocated to Xxxxx & Fraade Enterprises, LLC (and/or its assignees or designees) and ten million (10,000,000) shares of the Corporation’s common stock and five million (5,000,000) shares of the Corporation’s Series A Anti-Dilutive Preferred Stock that have been allocated to members of the Corporation’s management (hereinafter referred to as “Management”). The Consultant, Management and Xxxxx & Fraade Enterprises, LLC hereby agree that any shares of the Corporation’s common stock which are issued with respect to any contemplated funding shall proportionately dilute their respective ownership in the Corporation. The total number of shares that the Corporation shall have the authority to issue is one hundred million (100,000,000) shares of common stock, having a par value of $0.00001 per share, and twelve million (12,000,000) shares Series A Anti-Dilutive Preferred Stock, having a par value of $0.0001 per share. The Corporation shall file a Registration Statement with the Securities and Exchange Commission to become a public reporting company and in order to have its stock publicly traded The Series A Anti-Dilutive Preferred Stock shall be convertible into three shares of Common Stock at the option of the holder of the Series A Anti-Dilutive Preferred Stock if, and only if the following conditions have been met: (i) the Series A Anti-Dilutive Preferred Stock has been held by the holder for at least twelve (12) months; (ii) the Corporation has a minimum bid price of $0.10 per share; and (iii) the Corporation has at least 100 shareholders. It is hereby understood that the Consultant intends to utilize the services of subcontractors and it may share its compensation with such subcontractors.
COMPENSATION FOR THE CONSULTING ARRANGEMENT. As ufll consideration for the consulting services to be provided by Consultant during the term of this Agreement, the Company shall immediately issue to Consultant 1,000,000 shares of the Initials DG -- Company's free-trading common stock or resticted stock with piggybank or demand registration rights.
COMPENSATION FOR THE CONSULTING ARRANGEMENT. As part of the consideration for the services to be rendered under the Consulting Arrangement by Consultant and as compensation for the income he could have otherwise earned if he had not agreed to keep himself available to the Corporation hereunder, the Corporation issue to the Consultant 100,000 shares of common stock, $.001 par value per share.
COMPENSATION FOR THE CONSULTING ARRANGEMENT. As part of the consideration for the services to be rendered under the Consulting Arrangement by Consultant and as compensation for the income Consultant could have otherwise earned if Consultant had not agreed to keep Consultant available to the Corporation hereunder, the Corporation shall pay the Consultant the following:
(a) the Corporation shall pay Consultant $15,000 per month on the 15th day of each month, which such payment commenced on March 15, 2006, unless the Corporation is generating sales in excess of $150,000 per month, then such monthly payment shall be increased to $18,500 per month for that specific month.
(b) 20% commission on net sales generated by the Corporation, which shall be paid within 30 days of receipt of payment by the Corporation from client.
(c) Reimbursement of all business related travel expenses, including air travel (coach class), hotels, food and other expenses, and gas, oil and tolls in connection with vehicular travel.
(d) Health benefits as made available to all executives of the Corporation.
(e) An option exercisable at an aggregate price of $1.00 to purchase an amount of shares of common stock of the Corporation, which vest on the 12 month anniversary of the Effective Date (the "First Anniversary Date"), equal to 10% of the total outstanding shares of the Corporation as of the First Anniversary Date and an option to purchase shares of common stock of the Corporation equal to 10% of the total outstanding shares of the Corporationas of the date the Corporation has generated positive net income for four consecutive quarters (the "Net Income Date"), which shall vest as of the Net Income Date; provided, however, such options may only be exercised upon New Millennium Capital Partners II, LLC, AJW Qualified Partners, LLC, AJW Offshore, Ltd. or AJW Partners, LLC (collectively, the "Investors") having fully converted their convertible debt outstanding as of the date hereof (the "Debt") to shares of common stock of the Corporation. In the event that the Investors have not converted the Debt 30 days prior to the expiration of this Agreement, then Consultant may exercise its option. Consultant is restricted from selling securities in the Corporation; provided, however, after the expiration of three years from the Effective Date and until such time that the Investors have converted all the Debt, Consultant may then sell 20% of its shares per year. The Corporation will pay Consultant rent plus other expenses including one half of ...
COMPENSATION FOR THE CONSULTING ARRANGEMENT. Consultants shall be entitled to receive $150,000 worth of common stock of the Corporation (the “Share Value”), par value $.001 per share which is to be registered on Form S-8 in the name of Ravi Pottahil, of which one-third shall be issued six months from the date hereof, one-third shall be issued 12 months from the date hereof and one-third shall be issued 18 months from the date hereof. The number of shares received shall equal the Share Value divided by the average price of the common stock during the fifteen (15) trading days prior to the date hereof; provided, however, that the Consultants shall not receive more than 310,000 shares of the common stock of the Corporation. Pursuant to Article 3, if either of the Consultants shall leave AccuDx prior to the end of Consulting Period, Ravi Pottahil shall return to the Corporation a pro rata portion of the Shares equal to the balance of the Consulting Period.
COMPENSATION FOR THE CONSULTING ARRANGEMENT. As consideration for the services to be rendered by Consultant under this Consulting Arrangement and as compensation for the income it could have otherwise earned if it had not agreed to keep itself available to the Corporation hereunder, the Corporation will issue to the Consultant twenty-five million (25,000,000) shares of its common stock. The Corporation will have the option to cancel this Agreement as of December 31, 2011. In the event that the Corporation elects to cancel this Agreement as of December 31, 2011, the Consultant will be obligated to return seven million (7,000,000) shares of common stock of the twenty-five million (25,000,000) shares of common stock, that is to be issued to the Consultant under this Agreement, to the Corporation’s Treasury. Prior to this Agreement, there were forty-eight million (48,000,000) shares (post-split) of Corporation’s common stock outstanding (including eight million (8,000,000) shares to be allocated to three individuals who will serve as Directors of the Corporation). The Corporation does not have any (i) subscriptions, options, warrants, rights or other agreements outstanding to acquire from the Corporation shares of stock of the Corporation or any other equity security or security convertible into an equity security of the Corporation, or (ii) agreements or commitments to increase, decrease or otherwise after the authorized capital stock of the Corporation aside from the following performance bonus shares to be awarded to the Corporation’s Management upon the achievement of the following milestones: Revenues Common Stock Award 2012 $ 9,000,000 3,000,000 2013 $ 15,000,000 3,000,000 2014 $ 19,000,000 3,000,000 2015 $ 23,000,000 3,000,000 The total number of shares that the Corporation shall have the authority to issue is two hundred fifty million (250,000,000) shares of common stock, having a par value of $0.00001 per share.
COMPENSATION FOR THE CONSULTING ARRANGEMENT. As consideration for the services to be rendered under the Consulting Arrangement by Consultant and as compensation for the income it could have otherwise earned if it had not agreed to keep himself available to the Corporation hereunder, the Corporation shall pay the Consultant the following compensation:
