Equity Compensation for Services Sample Clauses
The 'Equity Compensation for Services' clause defines the terms under which a party, typically an employee, consultant, or contractor, receives ownership interests—such as stock options or restricted shares—instead of or in addition to cash payment for their work. This clause outlines the type and amount of equity granted, the vesting schedule, and any conditions or restrictions on the equity, such as performance milestones or continued service requirements. Its core function is to align the interests of the service provider with those of the company, incentivizing long-term commitment and performance while conserving cash resources.
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Equity Compensation for Services. In consideration of Advisor’s provision of certain legal services to the Company, pursuant to the terms of an engagement letter for such services to the Company, the Company has agreed to issue Advisor 500,000 shares of the Company’s common stock, $0.0001 par value per share (the “Common Stock”). The Company hereby agrees to issue such shares of Common Stock to Advisor immediately upon delivery of this executed Letter Agreement.
Equity Compensation for Services. As additional consideration for providing the Services to the Company, the Company shall, simultaneously with the execution hereof (the “Equity Fee”):
(i) execute and deliver to the Manager that certain Restricted Stock Purchase Agreement between the Company and the Manager, dated as of the date hereof (the “Restricted Stock Purchase Agreement”) which shall include the issuance of certain Incentive Units (as defined therein) to Manager;
(ii) execute and deliver to the Manager those certain Warrant Agreements between the Company and the Manager, dated as of the date hereof (the “Warrant Agreement”); and
(iii) execute and deliver to Manager that certain Contribution Agreement between the Company and the Manager, dated as of the date hereof (the “Contribution Agreement”). The Manager shall, simultaneously with the execution hereof, (x) execute and deliver to the Company each of the Restricted Stock Purchase Agreement, the Warrant Agreement and the Contribution Agreement, and (y) pay to Company in immediately available funds all amounts due under the Contribution Agreement for the Acquired Shares (as such term is defined therein). Notwithstanding anything to the contrary herein, the Company’s obligations under this Agreement are conditional, and shall only become effective, upon the Closing (as such term is defined in the Contribution Agreement).