Stock Shares. The term “Stock Shares” means Twenty-Eight Thousand (28,000) shares of Common Stock of the Corporation, which represents approximately thirteen and thirty-three hundredths percent (13.33%) of the Outstanding Common Stock.
Stock Shares. As additional compensation for the services and rights provided by Player and upon execution of this agreement, Player shall receive 30,000 shares of the Company's common stock, valued at par value $0.01 per share. Company agrees that in the event the shares do not have a minimum value of $60,000 at the date of initial public offering (IPO) of the Company's stock, Company agrees to pay the difference between such date's valuation and $60,000 to Player in cash compensation or gifting additional shares of Company stock no later than thirty days following the date of the IPO. All references to share or option numbers and exercise prices herein do not reflect the Company's contemplated 3:1 reverse split of its common stock.
Stock Shares. No change will be made in the authorized corporate shares of the Company.
Stock Shares. Company previously paid Professional, under the Old Agreement, as additional compensation for the services and rights provided by Professional pursuant thereto, taking into account a three (3) for one (1) reverse split, 10,000 shares (the "Shares") of the Company's common stock, valued at par value $0.01 per share. Company agreed, under the Old Agreement, that in the event that the Shares do not have a minimum value of $60,000 at the date of initial public offering (IPO) of the Company's stock, that the Company would pay the difference between the value of the Shares, on such date, and $60,000 to Professional in cash compensation or gifting additional shares of Company stock no later than thirty (30) days following the date of the IPO. Company hereby agrees that the Shares previously paid to Professional were fully earned. Further, Company and Professional hereby agree that Company's obligations relative to the contingency related to the Shares not having a minimum value of $60,000 at the date of the IPO, is hereby modified to require that Company pay to GDA the difference between the valuation of the Shares on such date and $60,000 in cash no later than thirty days following the date of the IPO, irrespective of whether such IPO date is prior to, or after, the expiration or early termination of this Agreement.
Stock Shares. At such time as Payment is made pursuant to section 3 herein (collectively, “the Payment), which shall occur on or before February 15, 2012 (the “Closing Date”), Xxxxxxx, Xxxxxxx and Xxxxxx shall return all shares of CWE or Clean Wind Energy Tower, Inc. stock to CWE or to a designee of CWE. Xxxxxxx, Xxxxxxx and Xxxxxx shall take any reasonable steps necessary to effectuate the return their stock shares to CWE or its designee.
Stock Shares
