EMPLOYMENT AGREEMENTEmployment Agreement • May 15th, 2007 • Shumate Industries Inc • Fabricated structural metal products • Texas
This Employment Agreement (this “Agreement”) is made and entered into effective as of the 10th day of May, 2007 (the “Effective Date”), by and between SHUMATE INDUSTRIES, INC., a Delaware corporation (hereafter referred to as the “Company”), and RUSSELL T. CLARK (hereafter referred to as “Executive”). The Company and Executive may sometimes hereafter be referred to singularly as a “Party” or collectively as the “Parties.”
Void after 5:00 P.M. New York City time on the last day of the Exercise Period, as defined in the Warrant CLASS B COMMON STOCK PURCHASE WARRANT OF SHUMATE INDUSTRIES, INC.Shumate Industries Inc • May 15th, 2007 • Fabricated structural metal products • New York
This is to certify that, FOR VALUE RECEIVED, _________(“Holder”), is entitled to purchase, subject to the provisions of this warrant (“Warrant” or “Class B Warrant”), from Shumate Industries, Inc., a Delaware corporation (the “Company”), at an exercise price per share of $2.00, subject to adjustment as provided in this Warrant (the “Warrant Exercise Price”), _________ shares of common stock, par value $0.001 per share (“Common Stock”). The shares of Common Stock deliverable upon such exercise, and as adjusted from time to time (including shares issued as dividends or upon any stock split or recapitalization), are hereinafter sometimes referred to as “Warrant Shares.”
