Common use of Fees Expenses Other Arrangements Clause in Contracts

Fees Expenses Other Arrangements. A. Placement Agent’s Fee; Non-Accountable Expense Allowance. As compensation for services rendered, the Company shall pay to the Placement Agent in cash by wire transfer in immediately available funds to an account or accounts designated by the Placement Agent an amount (the “Placement Fee”) equal to 7.0% of the aggregate gross proceeds received by the Company from the sale of the Securities, at each Closing Date (as defined below); and the Company shall issue to the Placement Agent or its designees at the Closing one five-year warrant to purchase such number of Shares (as defined in Section 3) equal to 5.0% of the Shares sold in this Offering at an exercise price of $ [●] (110% of the price per Share) (the “Placement Agent Warrant” and together with the shares of Common Stock underlying the Placement Agent Warrant, the “Placement Agent Securities”). The Company will also pay to the Placement Agent in cash by wire transfer in immediately available funds to an account or accounts designated by the Placement Agent a non-accountable expense allowance equal to 0.75% of the aggregate gross proceeds received by the Company from the sale of the Securities, at each Closing.

Fees Expenses Other Arrangements. A. Placement Agent’s Fee; Non-Accountable Expense Allowance. As compensation for services rendered, the Company shall pay to the Placement Agent in cash by wire transfer in immediately available funds to an account or accounts designated by the Placement Agent an amount (the “Placement Fee”) equal to (i) 7.0% of the initial $15,000,000 in aggregate gross proceeds received by the Company from the sale of Securities, and (ii) 3.5% of all aggregate gross proceeds in excess of $15,000,000 received by the Company from the sale of the Securities, at each Closing Date (as defined below); and the Company shall issue to the Placement Agent or its designees at the Closing one five-year warrant to purchase such number of Shares (as defined in Section 3) equal to 5.04.0% of the Shares sold in this Offering at an exercise price of $ [●] (110125% of the price per Share) (the “Placement Agent Warrant” and together with the shares of Common Stock underlying the Placement Agent Warrant, the “Placement Agent Securities”). The Company will also pay to the Placement Agent in cash by wire transfer in immediately available funds to an account or accounts designated by the Placement Agent a non-accountable expense allowance equal to 0.75% of the aggregate gross proceeds received by the Company from the sale of the Securities, at each Closing.