Cash Bonus incentives for CEO and COO
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The Company further agreed to pay Charles Allen and Michal Handerhan contingent cash bonuses of $175,000 and $75,000 respectively, collectively $250,000 (the “Contingent Bonus”) which will be deemed earned on the earlier of i) the closing of a merger approved by the Board, ii) the closing of one or many financings in 2018 totaling over $1.25 million in gross proceeds, or iii) the Company having cash and digital assets valued over $1.5 million. Provided further that the Contingent Bonus if deemed earned will only be payable if the Company has at least $1.25 million in cash and digital assets prior to paying the bonuses.
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