What We Need From You. By executing and delivering this letter, you will hereby agree to automatically convert upon the closing of the Company’s Offering (the “Conversion”), your Note Obligation into shares of the Company’s common stock at a $0.20 conversion price, for example, if your Note Obligation is equal to $100,000, you would receive 500,000 shares of Common Stock and an Incentive Warrant to purchase 250,000 shares of Common Stock at the exercise price of $0.30 per share. By your agreement and acknowledgment below, this Letter Agreement shall serve as written confirmation that:
Appears in 2 contracts
Sources: Promissory Note (Jerrick Media Holdings, Inc.), Convertible Note Agreement (Jerrick Media Holdings, Inc.)