7.0. EDSR 03-09-1998 - Laserfiche WebLink

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not less than twice the price used to calculate Shares provided to the EDA under 2.1.(A) of this Agreement. 3. COMPANY RESPONSIBILITIES 3.1. Financial Statements and Employee Reports. The Company shall provide EDA with "bookkeeper-prepared" quarterly financial statements and all available audited financial statements (Note: EDA does not require the Company to incur the cost of"audited" statements as a requirement of this agreement). The Company shall also provide EDA with detailed periodic data on all employees of the Company, including salaries, number and names of Company employees, titles and positions of each employee, and the names and positions of the Company's officers and Board members. 3.2. Annual Objectives. The Company shall maintain a written policy statement on a quarterly and annual basis defining its objectives with respect to its growth and development, and shall provide EDA with copies of such written policy statement. The Company shall also provide to EDA periodic reports on the Company's growth and development, as may be reasonably requested by EDA from time to time. 3.3. Regular Meetings. The Company shall conduct and hold regular periodic meetings with the EDA Executive Director and members of the EDA Commission as determined appropriate for the purpose of reviewing the Company's progress. The Company acknowledges that as part of the services provided to it hereunder, the Company shall receive advice and counsel from such Executive Director and EDA Commissioners. The Company shall hold and conduct such meetings at least once every quarter during the term of this Agreement. 3.4. Board Meetings. The Company shall provide EDA with written notice of, and allow an EDA representative or designee to attend, all regular and special meetings of the Company's Board of Directors and/or Board of Advisors (collectively the `Boards"). Although an EDA representative or designee may offer guidance or advice to the Boards, no officer, director, agent, or employee of EDA shall be deemed a member of the Company's Boards. Any EDA representative or designee attending the meetings for the Company's Boards shall attend without a vote, without compensation, and without fiduciary or legal responsibility to the Company, its officers, directors, or stockholders. The Company shall indemnify the EDA, including its representative or designee attending such Board meetings, against all costs and liabilities to the same extent as the Company • so indemnifies its officers and/or directors. The EDA, or its representative or 11°. designee, shall hold all Company information in strict confidence. eda/doc/watagrmt 4