Employment Contract Exhibit 10.26Inrad Inc • August 16th, 1999 • Miscellaneous electrical machinery, equipment & supplies
Clarex Limited P.O. Box N3016 Nassau, BahamasInrad Inc • August 16th, 1999 • Miscellaneous electrical machinery, equipment & supplies
This letter is written to evidence our agreement to invest $500,000 in INRAD, in the form of 500 newly offered shares of 10%, convertible preferred stock, with a $1,000 par value. Dividends will be paid in shares of INRAD's common stock, at the rate of $1.00 per share. The conversion into common stock will also be at the rate of $1.00 per share.
