Equity Distribution. Xxxx Xxxxxxx (JMC) and Xxxxx XxXxxxxxxx (McSullivan), through their marketing efforts, will identify financing sources for company management to negotiate and close with the goal of obtaining a commitment for up to $10 Million in equity or debt funding for US Helicopter. Should the company receive such a commitment for all or part of the funding required to then launch the business, the following will pertain: - Cash - A commission of 10% of the debt or equity received from JMC/McSullivan sources will be paid to JMC/McSullivan. - Equity - In the event US Helicopter management decides to commence commercial operations with funding of any amount received through JMC/McSullivan sources, regardless of the structure, then JMC/McSullivan will be granted 29% of the stock in the company in compensation for all of the services identified above. Such 29% can be diluted on the same terms and conditions as all other equity held by other founding shareholders in the company.
Appears in 4 contracts
Samples: Securities Purchase Agreement (U.S. Helicopter CORP), Securities Purchase Agreement (U.S. Helicopter CORP), Marketing Services Agreement (U.S. Helicopter CORP)
