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01/16/2020

a period of five years: $250,000

a period of five years: $250,000
$250,000 Total cash consideration paid by the non-consummation group to the consummation group for the sale of approximately 3,000,000 common shares for an aggregate consideration of $1,875,000, consisting of $1,175,000 in cash, $150,000 in stock options with a value of $0.75 per share and $300,000 in paid restricted shares with a value of $0.50 per share, approximately 25,000 equity shares issued to the non-consummation group, approximately 80,000 stock options with a value of $16 per share and $5 per share, and approximately 10,000 restricted shares issued to the non-consummation group
$5,000,000 Amount paid to the non-consummation group to account for costs incurred as part of the sale: the selling expenses that were incurred for an aggregate amount of $3,700,000; plus costs and fees incurred as part of the consummation process, which were incurred for an aggregate amount of $600,000
$3,700,000 Amount payable to the non-consummation group to account for fees and other expenses incurred as part of the sale: the cost to the consummation group of the $500,000 of services, including legal, consulting, marketing and general consulting services, that were expended to support a portion of the offering; plus expenses incurred in connection with the sales process that were incurred by the consummation group for an aggregate amount of $150,000
$500,000 Amount payable to the non-consummation group to account for sales tax associated with transactions related to the shares offered: the sales tax charge that was payable to the municipality of the selling municipalities in consideration of receiving certain proceeds from the offering of shares of common stock of the company, which was payable pursuant to the terms of the sales tax collection obligations set forth in the agreement to collect, collect and remit sales and use taxes between the selling municipalities; plus sales tax from another taxing municipality, which was payable pursuant to the terms of the sales tax collection obligations set forth in the agreement to collect, collect and remit sales and use taxes between the selling municipalities
$60,000,000 Amount owed pursuant to any outstanding letters of credit: the letters of credit to be held by the company and its affiliates as a contingency against the payment of any amounts due to the non-consummation group; plus the sum of $1,250,000 held as an interest-bearing reserve and a letter of credit to be held by the company and its affiliates, which was secured by the equity interest of the company (equity interest represented by more than a 25% equity interest in the company) and the equity interest held by the companies that hold a majority of common shares in the company, for the purpose of meeting all of the conditions required to permit the company to meet all requirements required by the laws of the state of Louisiana for granting a permit to engage in a qualified acquisition in a tax-exempt manner; plus $1,250,000 held as an interest-bearing reserve and a letter of credit to be held by the company and its affiliates, which was secured by the equity interest of the company (equity interest represented by more than a 25% equity interest in the company) and the equity interest held by