Extension of the Vesting Period. The last two sentences of Section 1 of the Original Subscription Agreement are hereby amended and restated in their entirety as follows: “As consideration for the purchase of Stock, Investor hereby agrees to pay to the Company the sum of $200,000 (the “Purchase Price”) in the form of services as an officer for the three-year period beginning September 29, 2006 and ending September 29, 2009. The Subscription Shares will be subject to forfeiture and restricted from being sold by Investor until the later to occur of: (i) a public offering by the Company sufficient to liquidate the Subscription Shares, (ii) an exchange of the Company’s existing shares for new shares, and (iii) September 29, 2009.”
Appears in 1 contract
Samples: Stock Subscription Agreement (Paragon Real Estate Equity & Investment Trust)
Extension of the Vesting Period. The last two sentences of Section 1 of the Original Subscription Agreement are hereby amended and restated in their entirety as follows: “As consideration for the purchase of Stock, Investor hereby agrees to pay to the Company the sum of $200,000 (the “Purchase Price”) in the form of services as an officer for the three-year period beginning September 29, 2006 and ending September 29, 20092010. The Subscription Shares will be subject to forfeiture and restricted from being sold by Investor until the later to occur of:
(i) a public offering by the Company sufficient to liquidate the Subscription Shares,
(ii) an exchange of the Company’s existing shares for new shares, and
(iii) September 29, 20092010.”
Appears in 1 contract
Samples: Stock Subscription Agreement (Paragon Real Estate Equity & Investment Trust)
Extension of the Vesting Period. The last two sentences of Section 1 of the Original Subscription Agreement are hereby amended and restated in their entirety as follows: “As consideration for the purchase of Stock, Investor hereby agrees to pay to the Company the sum of $200,000 (the “Purchase Price”) in the form of services as an officer for the threeseven-year period beginning September 29, 2006 and ending September 2930, 20092015. The Subscription Shares will be subject to forfeiture and restricted from being sold by Investor until the later to occur of:
(i) a public offering by the Company sufficient to liquidate the Subscription Shares,
(ii) an exchange of the Company’s existing shares for new shares, and
(iii) September 2930, 20092015.”
Appears in 1 contract
Samples: Stock Subscription Agreement (Paragon Real Estate Equity & Investment Trust)
Extension of the Vesting Period. The last two sentences of Section 1 of the Original Subscription Agreement are hereby amended and restated in their entirety as follows: “As consideration for the purchase of Stock, Investor hereby agrees to pay to the Company the sum of $200,000 (the “Purchase Price”) in the form of services as an officer for the three-year period beginning September 29, 2006 and ending September 29, 20092012. The Subscription Shares will be subject to forfeiture and restricted from being sold by Investor until the later to occur of:
(i) a public offering by the Company sufficient to liquidate the Subscription Shares,
(ii) an exchange of the Company’s existing shares for new shares, and
(iii) September 29, 20092012.”
Appears in 1 contract
Samples: Stock Subscription Agreement (Paragon Real Estate Equity & Investment Trust)
Extension of the Vesting Period. The last two sentences of Section 1 of the Original Subscription Agreement are hereby amended and restated in their entirety as follows: “As consideration for the purchase of Stock, Investor hereby agrees to pay to the Company the sum of $200,000 (the “Purchase Price”) in the form of services as an officer for the threeseven-year period beginning September 29, 2006 and ending September 2930, 20092016. The Subscription Shares will be subject to forfeiture and restricted from being sold by Investor until the later to occur of:
(i) a public offering by the Company sufficient to liquidate the Subscription Shares,
(ii) an exchange of the Company’s existing shares for new shares, and
(iii) September 2930, 20092016.”
Appears in 1 contract
Samples: Stock Subscription Agreement (Paragon Real Estate Equity & Investment Trust)
Extension of the Vesting Period. The last two sentences of Section 1 of the Original Subscription Agreement are hereby amended and restated in their entirety as follows: “As consideration for the purchase of Stock, Investor hereby agrees to pay to the Company the sum of $200,000 (the “Purchase Price”) in the form of services as an officer for the threeseven-year period beginning September 29, 2006 and ending September 2930, 20092013. The Subscription Shares will be subject to forfeiture and restricted from being sold by Investor until the later to occur of:
(i) a public offering by the Company sufficient to liquidate the Subscription Shares,
(ii) an exchange of the Company’s existing shares for new shares, and
(iii) September 2930, 20092013.”
Appears in 1 contract
Samples: Stock Subscription Agreement (Paragon Real Estate Equity & Investment Trust)
Extension of the Vesting Period. The last two sentences of Section 1 of the Original Subscription Agreement are hereby amended and restated in their entirety as follows: “As consideration for the purchase of Stock, Investor hereby agrees to pay to the Company the sum of $200,000 (the “Purchase Price”) in the form of services as an officer for the three-year period beginning September 29, 2006 and ending September 29, 20092011. The Subscription Shares will be subject to forfeiture and restricted from being sold by Investor until the later to occur of:
(i) a public offering by the Company sufficient to liquidate the Subscription Shares,
(ii) an exchange of the Company’s existing shares for new shares, and
(iii) September 29, 20092011.”
Appears in 1 contract
Samples: Stock Subscription Agreement (Paragon Real Estate Equity & Investment Trust)
Extension of the Vesting Period. The last two sentences of Section 1 of the Original Subscription Agreement are hereby amended and restated in their entirety as follows: “As consideration for the purchase of Stock, Investor hereby agrees to pay to the Company the sum of $200,000 (the “Purchase Price”) in the form of services as an officer for the threeseven-year period beginning September 29, 2006 and ending September 2930, 20092014. The Subscription Shares will be subject to forfeiture and restricted from being sold by Investor until the later to occur of:
(i) a public offering by the Company sufficient to liquidate the Subscription Shares,
(ii) an exchange of the Company’s existing shares for new shares, and
(iii) September 2930, 20092014.”
Appears in 1 contract
Samples: Stock Subscription Agreement (Paragon Real Estate Equity & Investment Trust)