Common use of Conversion of Debt into Common Stock Clause in Contracts

Conversion of Debt into Common Stock. The Contractor has the right to convert debt, which can consist of for example, but not limited to, accrued and unpaid fixed and variable fees, car and expense allowances, stock appreciation rights, etc., into free trading Common Stock of the Company at a stock price equal to 50% of the actual stock price on the date of exercising and at a dollar/euro exchange rate as per the date of exercising. The Company will bear the taxes, costs or expenses which arise on the issuance and transfer of the shares to the Contractor.

Conversion of Debt into Common Stock. The Contractor has the right to convert debt, which can consist of for example, but not limited to, accrued and unpaid fixed and variable fees, car and expense allowances, stock appreciation rights, etc., into free trading Common Stock of the Company at a stock price equal to 50% of the actual stock price on the date of exercising and at a dollar/euro exchange rate as per the date of exercising. The Company will bear the taxes, costs or expenses which arise on the issuance and transfer of the shares to the Contractor.