Common use of Fees/Warrants Clause in Contracts

Fees/Warrants. (a) The Company shall pay to counsel to the Subscriber its fees of $10,000 (of which $7,500 has been paid) for services rendered to Subscribers in connection with this Agreement and the other Subscription Agreements for aggregate subscription amounts of up to $1,200,000 (the "Offering"). The Company will pay the escrow agent for the Offering a fee of $750. The Company will pay to the Fund Managers identified on Schedule B hereto a cash fee in the amount of: eight percent (8%) of the Purchase Price ("Fund Manager's Fee") and of the actual cash proceeds received by the Company in connection with the exercise of the Warrants issued in connection with the Offering ("Warrant Exercise Compensation"). The Fund Manager's Fee must be paid each Closing Date with respect to the Notes issued on such date. The Warrant Exercise Compensation must be paid to the Fund Managers identified on Schedule B hereto, within ten (10) days of receipt of the Warrant exercise "Purchase Price" (as defined in the Warrant). The Fund Manager's Fee and legal fees will be payable out of funds held pursuant to a Funds Escrow Agreement to be entered into by the Company, Subscriber and an Escrow Agent. On the Closing Date, the Company will pay the Fund Manager identified on Schedule B, the sum of $2,500 as an expense allowance ("Expense Allowance").

Fees/Warrants. (a) The Company shall pay to counsel to the Subscriber its fees fee of $10,000 17,000 ($8,500 of which $7,500 has already been paid) for services rendered to Subscribers in connection with reviewing this Agreement and the other Subscription Agreements for aggregate subscription amounts of up to $1,200,000 500,000 (the "Initial Offering"), and acting as escrow agent for the Initial Offering. The Company will pay the escrow agent for the Offering a fee of $750. The Company will pay to the Fund Managers identified on Schedule B hereto a cash fee in the amount of: eight of ten percent (810%) of the Purchase Price and Put Purchase Price designated on the signature page hereto ("Fund ManagerFinder's Fee") and of the actual cash proceeds received by the Company in connection with the exercise of the Warrants issued in connection with the Initial Offering ("Initial Warrants") and Warrants issuable in connection with the Put ("Put Warrants") ("Warrant Exercise Compensation")) to the Finders identified on Schedule B hereto. Collectively, the Initial Warrants and Put Warrants are referred to herein as Warrants. The Fund ManagerFinder's Fee must be paid each Closing Date with respect to the Notes issued on such dateand Put Closing Date. The Warrant Exercise Compensation must be paid to the Fund Managers identified on Schedule B hereto, within ten (10) days of receipt of the Warrant exercise "Purchase Price" (as defined in to the Warrant)Finders identified on Schedule B hereto. The Fund ManagerFinder's Fee and legal fees will be payable out of funds held pursuant to a Funds Escrow Agreement to be entered into by the Company, Subscriber and an Escrow Agent. On the Closing Date, the Company will pay the Fund Manager identified on Schedule B, the sum of $2,500 as an expense allowance ("Expense Allowance").