Share Fee. As compensation under this Agreement, the Director will receive at the Director's election and option, three hundred thousand (300,000) shares Company's Common Stock, $0.001 par value (the "Shares"), a non-employee director stock option to purchase three hundred thousand (300,000) shares, or a Warrant to purchase three hundred thousand (300,000) shares. Any option or warrant issued pursuant to this agreement will contain a provision for the cashless exercise of said option or warrant. The price of any Shares issued or purchased pursuant to this Agreement shall be deemed to be $0.08 per Share, which is one hundred percent (100%) of the fair market value of the Shares on the date hereof.
Appears in 2 contracts
Sources: Non Employee Director Agreement (M Power Entertainment Inc.), Non Employee Director Agreement (Gk Intelligent Systems Inc)