Examples of Compensation Shares in a sentence
The Contractor covenants and agrees that, with respect to the Compensation Shares that it receives, it shall, at all times that it is the beneficial owner of such shares, vote such shares on all matters coming before it as a stockholder of the Company in the same manner as the majority of the board of directors of the Company shall recommend.
The Recipient further acknowledges that he must retain his own professional advisors to evaluate the tax and other consequences of an investment in the Compensation Shares.
The Recipient further acknowledges that the Compensation Shares must be held indefinitely unless they become registered under the Securities Act, or an exemption from such registration is available, and an opinion of counsel for the Company is furnished stating that registration is not required under the Securities Act or such state securities laws.
It is understood and agreed that the number of Compensation Shares granted hereunder is based upon a conversion price of $0.045 per share.
As soon as reasonably practicable after the full execution of this Agreement, Company agrees to file one or more Registration Statements on Form S-8 with the SEC registering the Compensation Shares to permit the public sale by the Consultant, and will use its reasonable best efforts to maintain the effectiveness of this Registration Statement for so long as an effective Registration Statement is required for the public sale by the Consultant of the Compensation Shares.