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5.0. 6.0. EDSR 03-08-1999
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5.0. 6.0. EDSR 03-08-1999
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City Government
type
EDSR
date
3/8/1999
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0 2. CONSIDERATION <br /> 2.1. Issuance of Stock. In consideration for the services <br /> provided to the Company hereunder, the Company, at the time of execution of <br /> the Company lease attached as Exhibit A hereto, shall convey and issue to <br /> the EDA (Landlord), Larry Hickman (Building Owner), and Genesis Portfolio <br /> Partners, LLC (EDA Business Incubator Consultant), a number of shares of <br /> the voting common stock of the Company ("Shares") as follows: <br /> A) For the service provided in Rent of Available Space (1,561 <br /> sq. ft. @ $8 per sq. ft. in stock): <br /> EDA (Landlord) 2,282 shares - which is <br /> equal to 2.50 dollars per <br /> square foot of space <br /> • <br /> leased per year, at a <br /> value of$2 per share. <br /> Larry Hickman (Building 2,740 shares - which is <br /> Owner) equal to 3.00 dollars per <br /> square foot of space <br /> • leased per year, at a <br /> value of$2 per share. <br /> Genesis Portfolio Partners, 2,282 shares - which is <br /> LLC (EDA Business equal to 2.50 dollars per <br /> Incubator Consultant) square foot of space <br /> leased per year, at a <br /> value of$2 per share. <br /> B) For technical advisory and consultation services provided <br /> by EDA: <br /> EDA (Landlord) The issuance of 10,000 <br /> warrants at the issuance <br /> price of.62 (sixty two <br /> cents) per share to be <br /> exercised by EDA at its <br /> discretion anytime five (5) <br /> years after the date of <br /> issuance. <br /> All Shares issued to the EDA, Larry Hickman, and Genesis Portfolio <br /> Partners, LLC, pursuant to this Agreement shall be subject to any <br /> • restrictions on transferability under state and federal securities laws, and <br /> shall be entitled to all rights and privileges to which other shares of voting <br /> common stock the Company are subject. <br />
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