Director’s Fee. In consideration of the services to be rendered under this Agreement, Company shall pay Director compensation prior to a successful closing of a secondary Public Offering and uplisting as detailed in attached Exhibit A. The Company shall pay Director after a successful closing of a secondary Public Offering and uplisting as detailed in attached Exhibit B. A successful closing of an Initial Public Offering and uplisting means a completion of the secondary Public Offering financing and an uplisting of Company Shares from the OTC to the Nasdaq or the NYSE American, as the case may be. Any payments made on annual and not quarterly basis will be returned by Director on a pro rata basis should the Director not complete their service as a Director for the full year.
Appears in 4 contracts
Samples: Board of Directors Agreement (Truleum, Inc.), Board of Directors Agreement (Truleum, Inc.), Board of Directors Agreement (Truleum, Inc.)
