Payment for services rendered clause samples

Between October 2015 and January 2016, the Company issued 65,806 shares of its common stock to a consultant as payment for services rendered. The Company valued these common shares at the fair value of $16,452, or $0.25 per common share, based on the sale of common stock in a private placement at $0.25 per common share.

Between October 2015 and January 2016, the Company issued 65,806 shares of the Company’s common stock to a consultant as payment for services rendered. The Company valued these common shares at the fair value of $16,452 or $0.25 per common share based on the sale of common stock in a private placement at $0.25 per common share and was recorded as stock based compensation.

a.any expenses incurred pursuant to the Agreement shall be allocated to and from the parties in conformity with customary insurance accounting practice; and b.the books, accounts and records of each party shall be maintained as to clearly and accurately disclose the precise nature and details of transactions performed pursuant to the Agreement. c.the Companies shall not advance funds to MML Trust except to pay for services defined in this Agreement; d.the Companies will maintain oversight for functions provided to the Companies by MML Trust and will monitor such services annually for quality assurance; e.all books and records of the Companies are and remain the property of the Companies and are subject to control of the Companies; f.all funds and invested assets of the Companies are the exclusive property of the Companies, held for the benefit of the Companies and are subject to the control of the Companies; g.if a Company is placed in receivership or seized by the Commissioner under Chapter 704c of the Connecticut General Statutes: i.all of the rights of the Company under the Agreement extend to the receiver or Commissioner; and, ii.all books and records will immediately be available to the receiver or the Commissioner, and shall be turned over to the receiver or Commissioner immediately upon the receiver’s or the Commissioner’s request; iii.MML Trust has no automatic right to terminate the agreement; and iv.MML Trust will continue to maintain any systems, programs or other infrastructure notwithstanding a seizure by the Commissioner under Chapter 704c of the Connecticut General Statutes, and will make them available to the receiver, for as long as MML Trust continues to receive timely payment for services rendered. h.this Agreement, together with all schedules, exhibits, and amendments thereto, constitute the entire Agreement; and i.this Agreement, together with all schedules, exhibits, and amendments thereto, shall renew automatically on an annual basis.

On March 27, 2020, the Company issued 1,000,000 shares of common stock to an individual who served as a member of the Board of Directors of the Company from February 27, 2020 to March 27, 2020, as payment for services rendered. The shares were valued at $0.0596 per share, being the market closing price for the shares on the date of issuance.