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Re: CommonCents3 post# 123810

Thursday, 07/20/2017 9:48:37 AM

Thursday, July 20, 2017 9:48:37 AM

Post# of 141566
Today's 8K from CCGI shall provide you some timeframe about the R/S.
I understand that the compensation package will occur after the new listing of the shares is effective... and this should be before October 31, otherwise the compensation package will have to be based on current shares value.

Form CCGI 8k released today:


In connection with Mr. Schweitzer’s appointment as a director of the Company, he signed a Board of Directors Offer Letter Agreement (the “Director’s Agreement”) on July 14, 2017. The Director’s Agreement took effect upon the Board’s appointment of Mr. Schweitzer on July 17. Pursuant to the Director’s Agreement, Mr. Schweitzer will receive 500,000 shares of the Company’s restricted common stock by August 1, 2017. The Company is currently in the process of pursuing: (i) a public offering of its securities; and (ii) the listing of its shares of common stock on a national securities exchange (collectively, the “Offering”). Upon the sooner to occur of: (i) twenty (20) calendar days after the closing of the Offering; and (ii) October 31, 2017, the Board shall vote upon and approve a compensation package for each Board member. Such vote shall ensure that Mr. Schweitzer shall be paid commensurate with his duties as Chairman of the Audit Committee, Chairman of the Compensation Committee, and member of the Nominating and Corporate Governance Committee, and lead “Independent Director”.


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