Common use of SERVICES, FEES, AND PAYMENT Clause in Contracts

SERVICES, FEES, AND PAYMENT. 1.1. The Company engages the Service Provider as an independent contractor to provide services described in Schedule ‘A’ attached hereto for 12 months from the Effective Date (the “Services”), and the Service Provider agrees to perform such Services. 1.2. In consideration of the full performance of the Services, the Company shall deliver one of the following to the Service Provider by January 31, 2008, representing fair value of US$1,600 per month for 12 months of Services performed (the “Fees”) a) US$19,200 in cash; b) A number of shares in the common capital stock of the Company, without registration rights and incorporating such restrictive legends as are required by the Company to comply with all applicable laws, equal to US$19,200 divided by the weighted average trading price of the Company’s common shares posted on any stock quotation or listing service for the 10-day period prior to the date of payment (or, if the trading price of the Company’s common shares is not at that time posted on any quotation or listing service, the weighted average price applied to the three most recent issuances of the Company’s common shares). c) Some combination of a) and b) above that will yield a market value of US$19,200 based on the foregoing valuation methodology. The choice of the form in which payment of the Fees shall be made shall be solely that of the Company.

Appears in 1 contract

Sources: Programming Services Agreement (First Source Data, Inc.)

SERVICES, FEES, AND PAYMENT. 1.1. The Company engages the Service Provider as an independent contractor to provide services described in Schedule ‘A’ attached hereto for 12 months from the Effective Date (the “Services”), and the Service Provider agrees to perform such Services. 1.2. In consideration of the full performance of the Services, the Company shall deliver one of the following to the Service Provider by January 31, 20082007, representing fair value of US$1,600 per month for 12 months of Services performed (the “Fees”) a) US$19,200 in cash; b) A number of shares in the common capital stock of the Company, without registration rights and incorporating such restrictive legends as are required by the Company to comply with all applicable laws, equal to US$19,200 divided by the weighted average trading price of the Company’s common shares posted on any stock quotation or listing service for the 10-day period prior to the date of payment (or, if the trading price of the Company’s common shares is not at that time posted on any quotation or listing service, the weighted average price applied to the three most recent issuances of the Company’s common shares). c) Some combination of a) and b) above that will yield a market value of US$19,200 based on the foregoing valuation methodology. The choice of the form in which payment of the Fees shall be made shall be solely that of the Company.

Appears in 1 contract

Sources: Programming Services Agreement (First Source Data, Inc.)