Tarsier Ltd (TAER)

[mdimport]

$30k / month is a lot of cash considering the history of shareholder destruction.

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In connection with our acquisition of Bulbs, we agreed that, for a period of three years from the closing date, the board of directors of Bulbs will consist solely of two representatives of the Sellers (which initially shall be the Sellers) and one representative of our company, who initially shall be Isaac H. Sutton, our sole officer and director. Bulbs also entered into a Management Agreement dated as of December 30, 2016 (the “Management Agreement”) with a newly-formed entity created by the Sellers (the “Manager”), pursuant to which the Sellers, on behalf of the Manager, will provide certain management services to Bulbs for a period of three years from the closing date. In consideration for such management services, Bulbs will pay to the Manager $30,000 per month. The Management Agreement contains provisions for its termination for “cause” and “good reason”, as well as confidentiality and non-compete provisions that are binding on the Manager and the Sellers, as are generally contained in employment agreements.