Share Fee. As compensation under this Agreement, Consultant will receive at the Consultant’s election and option, and as previously specified in the Non-Employee Director Agreement dated January 1, 2007, five hundred thousand (500,000) shares of the Company’s Common Stock, $0.001 par value (the ÒSharesÓ), a non-employee director stock option to purchase five hundred thousand (500,000) shares, or a Warrant to purchase five hundred thousand (500,000) 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 $0.05 per Share, which is one hundred percent (100%) of the fair market value of the Shares on the date hereof.
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Share Fee. As compensation under this Agreement, Consultant will receive at the Consultant’s election and option, and as previously specified in the Non-Employee Director Agreement dated January 1, 2007, five hundred thousand (500,000) shares of the Company’s Common Stock, $0.001 par value (the ÒSharesÓ“Shares”), a non-employee director stock option to purchase five hundred thousand (500,000) shares, or a Warrant to purchase five hundred thousand (500,000) 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 $0.05 per Share, which is one hundred percent (100%) of the fair market value of the Shares on the date hereof.
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