EMAIL DETAILS
SUBJECT:
Consulting agmt.... following up. Also have updates -- call today?
PRI: NORMAL
FROM:
L
lpowers@nwbio.com
DATE:
2016-05-05 13:59:56
MSG_ID:
<2b43b7a368114d769b86545e0eb7f29e@EX.nwbio.local>
RECIPIENTS:
TO:
H
hbiden@rosemontseneca.com
CC:
L
Les Goldman
<lgoldman@nwbio.com>
CONTENT:
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Dear Hunter: Hope you've been enjoying the springtime, despite the cool and soggy weather. We can all pretend we're in the UK.... Have you had a chance to consider the proposed consulting agreement that we sent several weeks ago? (please see below and attached) We are excited to be able to work with you and hope to get under way soon. Also, could we have an update call with you sometime today? We have some significant updates.... Including some further encouraging clinical data. Ideally, we'd like to talk for 20-30 minutes. We can fit pretty much any time today except, if possible, not between 11:30 a.m. and 12:00 noon Please advise. Thanks! -Linda From: Linda Powers Sent: Thursday, April 14, 2016 11:25 AM To: Hunter Biden (hbiden@rosemontseneca.com) Cc: Les Goldman Subject: Proposed draft consulting agreement Hi Hunter: We are looking forward to being able to get under way with our project to work with you to set up a general advisory board for the Company and to undertake various other initiatives. In the meantime, we greatly appreciate your advice and help in regard to our FDA issue. Attached please find our proposed draft consulting agreement, which is basically our template agreement. We included both cash and equity compensation - at the moment with blanks to be filled in. Let's discuss what amounts would make sense, along with approximately what amount of time you anticipate being able to devote to this. FYI, the equity comp is structured so that it is earned and vests monthly, in parallel with the cash compensation which is paid monthly, but, mechanically, all of the shares would be issued at the outset, and would be subject to reverse vesting. The reason we have set it up that way is to minimize the tax bill to you for the equity comp, in case the share price goes up over the course of the agreement period (as we hope and expect that it will!). If the shares were actually issued monthly, your tax bill would be based upon the increasing value rather than the low value at the outset. If you would prefer to have the stock issuances made monthly, though, of course we would be happy to handle it that way (and we would receive a bigger deduction :)). Please take a look through the draft agreement and let us know if you think any changes or clarifications are needed. Thanks. We are looking forward to getting under way! Kind regards, Lind
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THREAD:
TOPIC:
Consulting agmt.... following up. Also have updates -- call today?
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