Conversion Salary Sample Clauses
Conversion Salary. The Company and Employee hereby agree that the Conversion Salary shall convert into (i) 666,667 shares of Common Stock (the “Conversion Shares”) and (ii) a warrant to purchase 666,667 shares of Common Stock (the “Warrant Shares”) with an exercise price equal to $0.21 per share and a term of three years (the “Warrant” and together with the Conversion Shares and the Warrant Shares, the “Securities”), which Warrant shall be substantially in the form of Exhibit A attached hereto.
Conversion Salary. The Company and Employee hereby agree that the Conversion Salary shall convert into an option to purchase 7,692,308 shares of Common Stock (the “Option Shares”) with an exercise price equal to $0.013 per share and a term of seven years (the “Option” and together with the Option Shares, the “Securities”), which Option shall be substantially in the form of Exhibit A attached hereto.