Common use of Purchase and Sale of Executive Stock Clause in Contracts

Purchase and Sale of Executive Stock. (a) Upon execution of this Agreement, Executive will purchase, and the Company will sell, 105,000 shares of Common Stock at a price of $.50 per share. The Company will deliver to Executive the certificates representing such Executive Stock, and Executive will deliver to the Company a cashier's or certified check or wire transfer of funds in the aggregate amount of $4,606.88 and a promissory note in the form of Exhibit A attached hereto in an aggregate --------- principal amount of $47,893.13 (the "Executive Note"). -------------- (b) Within 30 days after the date hereof, Executive will make an effective election with the Internal Revenue Service under Section 83(b) of the Internal Revenue Code and the regulations promulgated thereunder in the form of Exhibit B attached hereto. --------- (c) Until the occurrence of a Sale of the Company or a Public Offering, all certificates evidencing shares of Executive Stock shall be held by the Company for the benefit of the

Purchase and Sale of Executive Stock. (a) Upon execution of this Agreement, Executive will purchase, and the Company will sell, 105,000 shares of Common Stock at a price of $.50 per share. The Company will deliver to Executive the certificates representing such Executive Stock, and Executive will deliver to the Company a cashier's or certified check or wire transfer of funds in the aggregate amount of $4,606.88 and a promissory note in the form of Exhibit A attached hereto in an aggregate --------- principal amount of $47,893.13 (the "Executive Note"). -------------- (b) Within 30 days after the date hereof, Executive will make an effective election with the Internal Revenue Service under Section 83(b) of the Internal Revenue Code and the regulations promulgated thereunder in the form of Exhibit B attached hereto. --------- (c) Until the occurrence of a Sale of the Company or a Public Offering, all certificates evidencing shares of Executive Stock shall be held by the Company for the benefit of thethe Executive and the other holder(s)

Purchase and Sale of Executive Stock. (a) Upon execution of this Agreement, Executive will purchase, and the Company will sell, 105,000 300,000 shares of Common Stock at a price of $.50 0.34 per share. The Company will deliver to Executive the certificates representing such Executive Stock, and Executive will deliver to the Company a cashier's or certified check or wire transfer of funds in the aggregate amount of $4,606.88 27,195.48 and a promissory note in the form of Exhibit A attached hereto in an aggregate --------- principal amount of $47,893.13 74,804.52 (the "Executive Note"). -------------- (b) Within 30 days after the date hereof, Executive will make an effective election with the Internal Revenue Service under Section 83(b) of the Internal Revenue Code and the regulations promulgated thereunder in the form of Exhibit B attached hereto. --------- (c) Until the occurrence of a Sale of the Company or a Public Offering, all certificates evidencing shares of Executive Stock shall be held by the Company for the benefit of thethe Executive and the other holder(s)

Purchase and Sale of Executive Stock. (a) Upon execution of this Agreement, Executive will purchase, and the Company will sell, 105,000 760,000 shares of Common Stock at a price of $.50 per share. The Company will deliver to Executive the certificates representing such Executive Stock, and Executive will deliver to the Company a cashier's or certified check or wire transfer of funds in the aggregate amount of $4,606.88 1,900.00 and a promissory note in the form of Exhibit A attached hereto in an aggregate --------- principal amount of $47,893.13 378,100.00 (the "Executive Note"). -------------- (b) Within 30 days after the date hereof, Executive will make an effective election with the Internal Revenue Service under Section 83(b) of the Internal Revenue Code and the regulations promulgated thereunder in the form of Exhibit B attached hereto. ------------------ EXECUTION COPY -------------- (c) Until the occurrence of a Sale of the Company or a Public Offering, all certificates evidencing shares of Executive Stock shall be held by the Company for the benefit of thethe Executive and the other holder(s)

Purchase and Sale of Executive Stock. (a) Upon execution of this Agreement, Executive will purchase, and the Company will sell, 105,000 110,000 shares of Common Stock at a price of $.50 per share. The Company will deliver to Executive the certificates representing such Executive Stock, and Executive will deliver to the Company a cashier's or certified check or wire transfer of funds in the aggregate amount of $4,606.88 4,826.25 and a promissory note in the form of Exhibit A attached hereto in an aggregate --------- principal amount of $47,893.13 50,173.75 (the "Executive Note"). -------------- (b) Within 30 days after the date hereof, Executive will make an effective election with the Internal Revenue Service under Section 83(b) of the Internal Revenue Code and the regulations promulgated thereunder in the form of Exhibit B attached hereto. --------- (c) Until the occurrence of a Sale of the Company or a Public Offering, all certificates evidencing shares of Executive Stock shall be held by the Company for the benefit of thethe Executive and the other holder(s)