Member Compensation. (A) Mr. Del shall be compensated for his services as a member of DELTA board of directors and committees, as follows: (a) For basic service as a member of our Company's board of directors, 5000 shares per month (b) For service, as chairman of any committee, 2500 shares per month (c) For service, on any other committee an additional 1250 shares per month (B) The foregoing compensation will be subject to the condition precedent that Mr. Del comply on a timely basis with all personal reporting obligations to the Commission pertaining to his role with DELTA and that Mr. Del serve in the designated positions providing all of the services required thereunder prudently and in good faith. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) or such compensation cannot be paid because of conflicts with applicable laws: (C) In the event that Mr. Del directly arranges or directly provides funding for DELTA on terms more beneficial than those reflected in DELTA current principal written financing agreements, Mr. Del shall be entitled at his election, to either: (1) A fee equal to 10% of such savings, on a continuing basis; or (2) If equity funding is directly arranged for DELTA by Mr. Del and DELTA is not obligated to pay any other source of compensation in conjunction therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines of the FINRA, Mr. Del shall be entitled to a bonus in a sum equal to 10% of the net proceeds of such funding after paying normal commissions. (D) In the event that Mr. Del arranges for an acquisition by DELTA, then Mr. Del will be entitled to compensation in an amount, in shares of DELTA common stock, equal to 10% of the net consideration paid by DELTA for such acquisition, provided that if such compensation is payable to more than one person, then they shall share such compensation, pro rata, based on the nature of their entitlement to such compensation.
Appears in 1 contract
Sources: Agreement to Serve as Corporate Director (Delta Entertainment Group, Inc.)
Member Compensation. (A) Mr. Del shall be compensated for his services as a member of DELTA TNPS board of directors and committees, as follows:
(a) For basic service as a member of our Company's board of directors, 5000 shares per month
(b) For service, as chairman of any committee, 2500 shares per month
(c) For service, on any other committee an additional 1250 shares per month
(B) The foregoing compensation will be subject to the condition precedent that Mr. Del comply on a timely basis with all personal reporting obligations to the Commission pertaining to his role with DELTA TNPS and that Mr. Del serve in the designated positions providing all of the services required thereunder prudently and in good faith. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) or such compensation cannot be paid because of conflicts with applicable laws:
(C) In the event that Mr. Mrs. Del directly arranges or directly provides funding for DELTA TNPS on terms more beneficial than those reflected in DELTA TNPS current principal written financing agreements, Mr. Del shall be entitled at his election, to either:
(1) A fee equal to 10% of such savings, on a continuing basis; or
(2) If equity funding is directly arranged for DELTA TNPS by Mr. Mrs. Del and DELTA TNPS is not obligated to pay any other source of compensation in conjunction therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines of the FINRANASD, Mr. Mrs. Del shall be entitled to a bonus in a sum equal to 10% of the net proceeds of such funding after paying normal commissions.
(D) In the event that Mr. Del arranges for an acquisition by DELTATNPS, then Mr. Mrs. Del will be entitled to compensation in an amount, in shares of DELTA TNPS common stock, equal to 10% of the net consideration paid by DELTA TNPS for such acquisition, provided that if such compensation is payable to more than one person, then they shall share such compensation, pro rata, based on the nature of their entitlement to such compensation.
Appears in 1 contract
Sources: Agreement to Serve as Corporate Director (Beta Music Group, Inc.)
Member Compensation. (A) Mr. Del Collins shall be compensated for his services fo▇ ▇▇▇ ▇▇▇▇▇ces as a member of DELTA FAMOUS board of directors and committees, as follows:
(a) For basic service as a member of our Company's board of directors, 5000 5,000 shares per month
(b) For service, as chairman of any committee, 2500 2,500 shares per month
(c) For service, on any other committee an additional 1250 1,250 shares per month
(B) The foregoing compensation will be subject to the condition precedent that Mr. Del Collins comply on a timely basis with all basi▇ ▇▇▇▇ ▇▇▇ personal reporting obligations to the Commission pertaining to his role with DELTA FAMOUS and that Mr. Del Collins serve in the designated positions ▇▇▇▇▇▇▇▇▇ providing all of the services required thereunder prudently and in good faith. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) or such compensation cannot be paid because of conflicts with applicable laws:
(C) In the event that Mr. Del Mrs. Collins directly arranges or directly provides d▇▇▇▇▇▇▇ ▇▇▇▇ides funding for DELTA FAMOUS on terms more beneficial than those reflected in DELTA FAMOUS current principal written financing agreements, Mr. Del Collins shall be entitled at his electionhi▇ ▇▇▇▇▇▇▇▇, to either:
(1) A fee equal to 10% of such savings, on a continuing basis; or
(2) If equity funding is directly arranged for DELTA FAMOUS by Mr. Del Mrs. Collins and DELTA FAMOUS is not obligated to pay obli▇▇▇▇▇ ▇▇ ▇▇▇ any other source of compensation in conjunction therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines of the FINRANASD, Mr. Del Mrs. Collins shall be entitled to a bonus in a ▇▇▇▇▇ ▇▇ ▇ sum equal to 10% of the net proceeds of such funding after paying normal commissions.
(D) In the event that Mr. Del Collins arranges for an acquisition by DELTAacquisi▇▇▇▇ ▇▇ ▇▇▇OUS, then Mr. Del Mrs. Collins will be entitled to compensation in co▇▇▇▇▇▇▇▇▇▇ ▇n an amount, in shares of DELTA FAMOUS common stock, equal to 10% of the net consideration paid by DELTA FAMOUS for such acquisition, provided that if such compensation is payable to more than one person, then they shall share such compensation, pro rata, based on the nature of their entitlement to such compensation.
Appears in 1 contract
Member Compensation. (A) Mr. Del Freeman shall be compensated for his services fo▇ ▇▇▇ ▇▇▇▇▇ces as a member of DELTA board of directors and committees, as follows:
(a) For basic service as a member of our Company's board of directors, 5000 shares per month
(b) For service, as chairman of any committee, 2500 shares per month
(c) For service, on any other committee an additional 1250 shares per month
(B) The foregoing compensation will be subject to the condition precedent that Mr. Del Freeman comply on a timely basis with all basi▇ ▇▇▇▇ ▇▇▇ personal reporting obligations to the Commission pertaining to his role with DELTA and that Mr. Del Freeman serve in the designated positions ▇▇▇▇▇▇▇▇▇ providing all of the services required thereunder prudently and in good faith. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) or such compensation cannot be paid because of conflicts with applicable laws:
(C) In the event that Mr. Del Freeman directly arranges or directly provides di▇▇▇▇▇▇ ▇▇▇▇ides funding for DELTA on terms more beneficial than those reflected in DELTA current principal written financing agreements, Mr. Del Freeman shall be entitled at his electionhi▇ ▇▇▇▇▇▇▇▇, to either:
(1) A fee equal to 10% of such savings, on a continuing basis; or
(2) If equity funding is directly arranged for DELTA by Mr. Del Freeman and DELTA is not obligated to pay obliga▇▇▇ ▇▇ ▇▇▇ any other source of compensation in conjunction therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines of the FINRA, Mr. Del Freeman shall be entitled to a bonus in a ▇▇▇▇▇ ▇▇ ▇ sum equal to 10% of the net proceeds of such funding after paying normal commissions.
(D) In the event that Mr. Del Freeman arranges for an acquisition by DELTAacquisi▇▇▇▇ ▇▇ ▇▇▇TA, then Mr. Del Freeman will be entitled to compensation in com▇▇▇▇▇▇▇▇▇ ▇n an amount, in shares of DELTA common stock, equal to 10% of the net consideration paid by DELTA for such acquisition, provided that if such compensation is payable to more than one person, then they shall share such compensation, pro rata, based on the nature of their entitlement to such compensation.
Appears in 1 contract
Sources: Corporate Governance (Delta Entertainment Group, Inc.)
Member Compensation. (A) Mr. Del Freeman shall be compensated for his services fo▇ ▇▇▇ ▇▇▇▇▇ces as a member of DELTA TNPS board of directors and committees, as follows:
(a) For basic service as a member of our Company's board of directors, 5000 shares per month
(b) For service, as chairman of any committee, 2500 shares per month
(c) For service, on any other committee an additional 1250 shares per month
(B) The foregoing compensation will be subject to the condition precedent that Mr. Del Freeman comply on a timely basis with all basi▇ ▇▇▇▇ ▇▇▇ personal reporting obligations to the Commission pertaining to his role with DELTA TNPS and that Mr. Del Freeman serve in the designated positions ▇▇▇▇▇▇▇▇▇ providing all of the services required thereunder prudently and in good faith. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) or such compensation cannot be paid because of conflicts with applicable laws:
(C) In the event that Mr. Del Mrs. Freeman directly arranges or directly provides d▇▇▇▇▇▇▇ ▇▇▇▇ides funding for DELTA TNPS on terms more beneficial than those reflected in DELTA TNPS current principal written financing agreements, Mr. Del Freeman shall be entitled at his electionhi▇ ▇▇▇▇▇▇▇▇, to either:
(1) A fee equal to 10% of such savings, on a continuing basis; or
(2) If equity funding is directly arranged for DELTA TNPS by Mr. Del Mrs. Freeman and DELTA TNPS is not obligated to pay any obliga▇▇▇ ▇▇ ▇▇▇ ▇ny other source of compensation in conjunction therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines of the FINRANASD, Mr. Del Mrs. Freeman shall be entitled to a bonus in a ▇▇▇▇▇ ▇▇ ▇ sum equal to 10% of the net proceeds of such funding after paying normal commissions.
(D) In the event that Mr. Del Freeman arranges for an acquisition by DELTAacquisi▇▇▇▇ ▇▇ ▇▇▇S, then Mr. Del Mrs. Freeman will be entitled to compensation in co▇▇▇▇▇▇▇▇▇▇ ▇n an amount, in shares of DELTA TNPS common stock, equal to 10% of the net consideration paid by DELTA TNPS for such acquisition, provided that if such compensation is payable to more than one person, then they shall share such compensation, pro rata, based on the nature of their entitlement to such compensation.
Appears in 1 contract
Sources: Agreement to Serve as Corporate Director (Beta Music Group, Inc.)
Member Compensation. (A) Mr. Del Mrs. Tucker shall be compensated for his services fo▇ ▇▇▇ ▇▇▇▇▇ces as a member of DELTA APOLLO board of directors and committees, as follows:
(a) For basic service as a member of our Company's board of directors, 5000 shares per month
(b) For service, as chairman of any committee, 2500 shares per month
(c) For service, on any other committee an additional 1250 shares per month
(B) The foregoing compensation will be subject to the condition precedent that Mr. Del Mrs. Tucker comply on a timely basis with all basi▇ ▇▇▇▇ ▇▇▇ personal reporting obligations to the Commission pertaining to his her role with DELTA APOLLO and that Mr. Del Mrs. Tucker serve in the designated positions ▇▇▇▇▇▇▇▇▇ providing all of the services required thereunder prudently and in good faith. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) or such compensation cannot be paid because of conflicts with applicable laws:
(C) In the event that Mr. Del Mrs. Tucker directly arranges or directly provides di▇▇▇▇▇▇ ▇▇▇▇ides funding for DELTA APOLLO on terms more beneficial than those reflected in DELTA APOLLO current principal written financing agreements, Mr. Del Mrs. Tucker shall be entitled at his electionhi▇ ▇▇▇▇▇▇▇▇, to either:
(1) A fee equal to 10% of such savings, on a continuing basis; or
(2) If equity funding is directly arranged for DELTA APOLLO by Mr. Del Mrs. Tucker and DELTA APOLLO is not obligated to pay oblig▇▇▇▇ ▇▇ ▇▇▇ any other source of compensation in conjunction therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines of the FINRA, Mr. Del Mrs. Tucker shall be entitled to a bonus in a ▇▇▇▇▇ ▇▇ ▇ sum equal to 10% of the net proceeds of such funding after paying normal commissions.
(D) In the event that Mr. Del Mrs. Tucker arranges for an acquisition by DELTAacquisi▇▇▇▇ ▇▇ ▇▇▇LLO, then Mr. Del Mrs. Tucker will be entitled to compensation in com▇▇▇▇▇▇▇▇▇ ▇n an amount, in shares of DELTA APOLLO common stock, equal to 10% of the net consideration paid by DELTA APOLLO for such acquisition, provided that if such compensation is payable to more than one person, then they shall share such compensation, pro rata, based on the nature of their entitlement to such compensation.
Appears in 1 contract
Sources: Agreement to Serve as Corporate Director (Apollo Entertainment Group, Inc.)
Member Compensation. (A) Mr. Del ▇▇. ▇▇▇▇▇▇ shall be compensated for his services as a member of DELTA board of directors and committees, as follows:
(a) For basic service as a member of our Company's board of directors, 5000 shares per month
(b) For service, as chairman of any committee, 2500 shares per month
(c) For service, on any other committee an additional 1250 shares per month
(B) The foregoing compensation will be subject to the condition precedent that Mr. Del ▇▇. ▇▇▇▇▇▇ comply on a timely basis with all personal reporting obligations to the Commission pertaining to his role with DELTA and that Mr. Del ▇▇. ▇▇▇▇▇▇ serve in the designated positions providing all of the services required thereunder prudently and in good faith. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement) or such compensation cannot be paid because of conflicts with applicable laws:
(C) In the event that Mr. Del ▇▇. ▇▇▇▇▇▇ directly arranges or directly provides funding for DELTA on terms more beneficial than those reflected in DELTA current principal written financing agreements, Mr. Del ▇▇. ▇▇▇▇▇▇ shall be entitled at his election, to either:
(1) A fee equal to 10% of such savings, on a continuing basis; or
(2) If equity funding is directly arranged for DELTA by Mr. Del ▇▇. ▇▇▇▇▇▇ and DELTA is not obligated to pay any other source of compensation in conjunction therewith, other than the normal commissions charged by broker dealers in securities in compliance with the compensation guidelines of the FINRA, Mr. Del ▇▇. ▇▇▇▇▇▇ shall be entitled to a bonus in a sum equal to 10% of the net proceeds of such funding after paying normal commissions.
(D) In the event that Mr. Del ▇▇. ▇▇▇▇▇▇ arranges for an acquisition by DELTA, then Mr. Del ▇▇. ▇▇▇▇▇▇ will be entitled to compensation in an amount, in shares of DELTA common stock, equal to 10% of the net consideration paid by DELTA for such acquisition, provided that if such compensation is payable to more than one person, then they shall share such compensation, pro rata, based on the nature of their entitlement to such compensation.
Appears in 1 contract
Sources: Agreement to Serve as Corporate Director (Delta Entertainment Group, Inc.)