Be careful guys Hemp, inc. and the consultants are
Post# of 17862
Posted On: 05/29/2014 7:59:11 PM
Be careful guys Hemp, inc. and the consultants are going to continue to dilute... Look at these crazy terms...
In connection with the Consulting Services Agreement entered into with The Industrial Hemp and
Medical Marijuana Consulting Company, Inc. (Note 7), the Company agreed to pay the following
additional fees over the three year term of the agreement-
- Monthly cash compensation of $5,000 ($60,000 annually)
- Quarterly cash compensation of $200,000 in year one and $400,000 in each of both years two and
three commencing June 1, 2014
If the quarterly cash compensation is not paid when due, the Company shall issue IHMMCC shares of the
Company’s common stock in an amount equal to the quarterly cash compensation due, discounted by
50% of the closing market price on the same date the quarterly compensation is due and payable.
At the end of the three year agreement and upon renewal, the Company shall pay to IHMMCC additional
stock compensation of ten percent of the issued and outstanding shares of the Company common stock at
the time of renewal.
In connection with the Consulting Services Agreement entered into with The Industrial Hemp and
Medical Marijuana Consulting Company, Inc. (Note 7), the Company agreed to pay the following
additional fees over the three year term of the agreement-
- Monthly cash compensation of $5,000 ($60,000 annually)
- Quarterly cash compensation of $200,000 in year one and $400,000 in each of both years two and
three commencing June 1, 2014
If the quarterly cash compensation is not paid when due, the Company shall issue IHMMCC shares of the
Company’s common stock in an amount equal to the quarterly cash compensation due, discounted by
50% of the closing market price on the same date the quarterly compensation is due and payable.
At the end of the three year agreement and upon renewal, the Company shall pay to IHMMCC additional
stock compensation of ten percent of the issued and outstanding shares of the Company common stock at
the time of renewal.
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