Common use of Restricted Stock Purchase Clause in Contracts

Restricted Stock Purchase. Contemporaneously with the execution of this Agreement, the Company will issue to Recipient 50,000 shares of Common Stock of the Company (the "Stock") for a consideration of $0.175 per share ("Purchase Price"). Payment of the aggregate Purchase Price of $8,750.00 for the Stock shall be made to the Company as follows: (i) $4,375.00 shall be paid in cash, and (ii) $4,375.00 shall be made by delivery of a promissory note, in the form attached hereto as Exhibit A, each upon execution of this Agreement. Recipient shall pledge the non-vested Stock as security for the promissory note pursuant to a security agreement in the form attached hereto as Exhibit B. All shares of Stock issued hereunder shall be deemed issued to Recipient as fully paid and nonassessable shares, and Recipient shall have all rights of a stockholder with respect thereto, including the right to vote, receive dividends (including stock dividends), participate in stock splits or other recapitalizations, and exchange such shares in a merger, consolidation or other reorganization. The Company shall pay any applicable stock transfer taxes.

Restricted Stock Purchase. Contemporaneously with the execution of this Agreement, the Company will issue to Recipient 50,000 600,000 shares of Common Stock of the Company (the "Stock") for a consideration of $0.175 per share ("Purchase Price"). Payment of the aggregate Purchase Price of $8,750.00 105,000 for the Stock shall be made to the Company as follows: (i) $4,375.00 52,500 shall be paid in cash, and (ii) $4,375.00 52,500 shall be made by delivery of a promissory note, in the form attached hereto as Exhibit A, each upon execution of this Agreement. Recipient shall pledge the non-vested Stock as security for the promissory note pursuant to a security agreement in the form attached hereto as Exhibit B. All shares of Stock issued hereunder shall be deemed issued to Recipient as fully paid and nonassessable shares, and Recipient shall have all rights of a stockholder with respect thereto, including the right to vote, receive dividends (including stock dividends), participate in stock splits or other recapitalizations, and exchange such shares in a merger, consolidation or other reorganization. The Company shall pay any applicable stock transfer taxes.

Restricted Stock Purchase. Contemporaneously with the execution of this Agreement, the Company will issue to Recipient 50,000 300,000 shares of Common Stock of the Company (the "Stock") for a consideration of $0.175 per share ("Purchase Price"). Payment of the aggregate Purchase Price of $8,750.00 52,500 for the Stock shall be made to the Company as follows: (i) $4,375.00 26,250 shall be paid in cash, and (ii) $4,375.00 26,250 shall be made by delivery of a promissory note, in the form attached hereto as Exhibit A, each upon execution of this Agreement. Recipient shall pledge the non-vested Stock as security for the promissory note pursuant to a security agreement in the form attached hereto as Exhibit B. All shares of Stock issued hereunder shall be deemed issued to Recipient as fully paid and nonassessable shares, and Recipient shall have all rights of a stockholder with respect thereto, including the right to vote, receive dividends (including stock dividends), participate in stock splits or other recapitalizations, and exchange such shares in a merger, consolidation or other reorganization. The Company shall pay any applicable stock transfer taxes.

Restricted Stock Purchase. Contemporaneously with the execution of this Agreement, the Company will issue to Recipient 50,000 700,000 shares of Common Stock of the Company (the "Stock") for a consideration of $0.175 per share ("Purchase Price"). Payment of the aggregate Purchase Price of $8,750.00 122,500 for the Stock shall be made to the Company as follows: (i) $4,375.00 61,250 shall be paid in cash, and (ii) $4,375.00 61,250 shall be made by delivery of a promissory note, in the form attached hereto as Exhibit A, each upon execution of this Agreement. Recipient shall pledge the non-vested Stock as security for the promissory note pursuant to a security agreement in the form attached hereto as Exhibit B. All shares of Stock issued hereunder shall be deemed issued to Recipient as fully paid and nonassessable shares, and Recipient shall have all rights of a stockholder with respect thereto, including the right to vote, receive dividends (including stock dividends), participate in stock splits or other recapitalizations, and exchange such shares in a merger, consolidation or other reorganization. The Company shall pay any applicable stock transfer taxes.

Restricted Stock Purchase. Contemporaneously with the execution of this Agreement, the Company will issue to Recipient 50,000 100,000 shares of Common Stock of the Company (the "Stock") for a consideration of $0.175 per share ("Purchase Price"). Payment of the aggregate Purchase Price of $8,750.00 17,500.00 for the Stock shall be made to the Company as follows: (i) $4,375.00 8,750.00 shall be paid in cash, and (ii) $4,375.00 8,750.00 shall be made by delivery of a promissory note, in the form attached hereto as Exhibit A, each upon execution of this Agreement. Recipient shall pledge the non-vested Stock as security for the promissory note pursuant to a security agreement in the form attached hereto as Exhibit B. All shares of Stock issued hereunder shall be deemed issued to Recipient as fully paid and nonassessable shares, and Recipient shall have all rights of a stockholder with respect thereto, including the right to vote, receive dividends (including stock dividends), participate in stock splits or other recapitalizations, and exchange such shares in a merger, consolidation or other reorganization. The Company shall pay any applicable stock transfer taxes.

Restricted Stock Purchase. Contemporaneously with the execution of this Agreement, the Company will issue to Recipient 50,000 shares of Common Stock of the Company (the "Stock") for a consideration of $0.175 per share ("Purchase Price"). Payment of the aggregate Purchase Price of $8,750.00 26,250.00 for the Stock shall be made to the Company as follows: (i) $4,375.00 13,125.00 shall be paid in cash, and (ii) $4,375.00 13,125.00 shall be made by delivery of a promissory note, in the form attached hereto as Exhibit A, each upon execution of this Agreement. Recipient shall pledge the non-vested Stock as security for the promissory note pursuant to a security agreement in the form attached hereto as Exhibit B. All shares of Stock issued hereunder shall be deemed issued to Recipient as fully paid and nonassessable shares, and Recipient shall have all rights of a stockholder with respect thereto, including the right to vote, receive dividends (including stock dividends), participate in stock splits or other recapitalizations, and exchange such shares in a merger, consolidation or other reorganization. The Company shall pay any applicable stock transfer taxes.