Common use of Contingent Compensation Clause in Contracts

Contingent Compensation. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) or such compensation cannot be paid because of conflicts with applicable laws: (A) In the event that Xxx. Xxxxxxx arranges or provides funding for Explorations on terms more beneficial than those reflected in Explorations' current principal financing agreements, copies of which are included among Explorations' records available through the SEC's XXXXX web site, Xxx. Xxxxxxx shall be entitled, at her election, to either: (1) A fee equal to 5% of such savings, on a continuing basis; or (2) If equity funding is provided through Xxx. Xxxxxxx or any affiliates of her, a discount of 5% from the lowest price at which such securities are offered to any other person for the subject equity securities if they are issuable as free trading securities, or a discount of 25% from the lowest price at which such securities are offered to any other person for the subject equity securities if they are issuable as restricted securities (as the term restricted is used for purposes of SEC Rule 144); and (3) If equity funding is arranged for Explorations by Xxx. Xxxxxxx and Explorations is not obligated to pay any other source of compensation in conjunction therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines of the NASD, Xxx. Xxxxxxx shall be entitled to a bonus in a sum equal to 5% of the net proceeds of such funding. (B) In the event that Xxx. Xxxxxxx arranges for an acquisition by Explorations, then Xxx. Xxxxxxx will be entitled to compensation in an amount, in shares of Explorations' common stock, equal to 5% of the net consideration paid by Explorations for such acquisition, provided that if such compensation is payable to more than one person, then they shall share such compensation, pro rata, based on the nature of their entitlement to such compensation. (C) In the event that Xxx. Xxxxxxx generates business for Explorations, then, on any sales resulting therefrom, Xxx. Xxxxxxx shall be entitled to a commission equal to 5% of the net income derived by Explorations therefrom, on a continuing basis.

Contingent Compensation. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) or such compensation cannot be paid because of conflicts with and subject to applicable lawslegal restrictions based on licensing and other requirements: (A) In the event that XxxMx. Xxxxxxx Xxxxxxxx arranges or provides funding for Explorations Puget on terms more beneficial than those reflected in Explorations' Puget’s current principal financing agreements, copies of which are included among Explorations' Puget’s records available through the SEC's XXXXX ’s EXXXX web site, XxxMx. Xxxxxxx Xxxxxxxx shall be entitled, at her its election, to either: (1) A fee equal to 5% of such savings, on a continuing basis; or (2) If equity funding is provided through XxxMx. Xxxxxxx Xxxxxxxx or any affiliates of herher Affiliates, a discount of 5% from the lowest bid price at which such securities are offered to any other person for the subject equity securities securities, if they are issuable as free trading securities, or or, a discount of 25% from the lowest bid price at which such securities are offered to any other person for the subject equity securities securities, if they are issuable as restricted securities (as the term restricted is used for purposes of SEC Rule 144); and (3) If equity funding is arranged for Explorations Puget by XxxMx. Xxxxxxx Xxxxxxxx and Explorations Puget is not obligated to pay any other source of compensation in conjunction therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines of the NASDFinancial Industry Regulatory Authority, XxxInc., Mx. Xxxxxxx Xxxxxxxx shall be entitled to a bonus in a sum equal to 5% of the net proceeds of such funding. (B) In the event that XxxMx. Xxxxxxx arranges for an acquisition by Explorations, then Xxx. Xxxxxxx will be entitled to compensation in an amount, in shares of Explorations' common stock, equal to 5% of the net consideration paid by Explorations for such acquisition, provided that if such compensation is payable to more than one person, then they shall share such compensation, pro rata, based on the nature of their entitlement to such compensation. (C) In the event that Xxx. Xxxxxxx Xxxxxxxx generates business for ExplorationsPuget, then, on any sales resulting therefrom, XxxMx. Xxxxxxx Xxxxxxxx shall be entitled to a commission equal to 5% of the net income derived by Explorations Puget therefrom, on a continuing basis.

Contingent Compensation. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) and subject to applicable legal restrictions based on licensing and other requirements, except with reference to transactions that benefit Nxxxxx or such compensation cannot his Affiliates as inventors of proprietary technologies or established contacts generated by them in the past that may be paid because of conflicts with applicable lawsreferred to Puget: (A) In the event that Xxx. Xxxxxxx Nxxxxx arranges or provides funding for Explorations Puget on terms more beneficial than those reflected in Explorations' Puget’s current principal financing agreements, copies of which are included among Explorations' Puget’s records available through the SEC's XXXXX ’s EXXXX web site, Xxx. Xxxxxxx Nxxxxx shall be entitled, at her its election, to either: (1) A fee equal to 5% of such savings, on a continuing basis; or (2) If equity funding is provided through Xxx. Xxxxxxx Nxxxxx or any affiliates of herhis Affiliates, a discount of 5% from the lowest bid price at which such securities are offered to any other person for the subject equity securities securities, if they are issuable as free trading securities, or or, a discount of 25% from the lowest bid price at which such securities are offered to any other person for the subject equity securities securities, if they are issuable as restricted securities (as the term restricted is used for purposes of SEC Rule 144); and (3) If equity funding is arranged for Explorations Puget by Xxx. Xxxxxxx Nxxxxx and Explorations Puget is not obligated to pay any other source of compensation in conjunction therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines of the NASDFinancial Industry Regulatory Authority, Xxx. Xxxxxxx Inc., Nxxxxx shall be entitled to a bonus in a sum equal to 5% of the net proceeds of such funding. (B) In the event that Xxx. Xxxxxxx arranges for an acquisition by Explorations, then Xxx. Xxxxxxx will be entitled to compensation in an amount, in shares of Explorations' common stock, equal to 5% of the net consideration paid by Explorations for such acquisition, provided that if such compensation is payable to more than one person, then they shall share such compensation, pro rata, based on the nature of their entitlement to such compensation. (C) In the event that Xxx. Xxxxxxx Nxxxxx generates business for ExplorationsPuget, then, on any sales resulting therefrom, Xxx. Xxxxxxx Nxxxxx shall be entitled to a commission equal to 5% of the net income derived by Explorations Puget therefrom, on a continuing basis.