Assignment of Warrants. Seller hereby agrees to assign 15,000 Warrants to each of the Buyers, immediately following, and conditional upon, the closing of the Public Offering and the private placement of Warrants to be made by the Company to the Seller simultaneously with the Public Offering. The Sellers shall assign the Warrants to the Buyers as compensation for such Buyers’ service as a director of the Company and the Buyers will pay no consideration for the assignment of the Warrants.
Appears in 2 contracts
Sources: Securities Assignment Agreement (Levy Acquisition Corp), Securities Assignment Agreement (Levy Acquisition Corp)