Lightwave Logic, Inc. Message Board

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Technology Stocks : Lightwave Logic, Inc.

LWLG 5.820

+11.3%

3:59 PM EST

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From: Fruno	1/13/2010 10:09:46 PM
	1 Recommendation of 1811

Smith's employment contract calls for no salary. He gets to buy shares at $1.51 and will only make money when he sells. I think he will have the shareholder's interests at heart. Here's the terms from the 8-K filed today: 4.1. Base Compensation. For all services rendered by Employee under this Employee Agreement, the Company agrees to compensate Employee as follows: Employee will be issued a warrant, of even date hereof, to purchase up to 650,000 shares of the Company’s common stock at an exercise price of $1.51 per share for a period of up to five years. The warrant will vest pursuant to the terms of the warrant agreement as follows: 162,500 warrants vest on January 13, 2009, and the remaining warrants vest in three (3) equal annual installments of 162,500 warrants per year commencing on January 13, 2010. No additional compensation will be paid to Employee for him serving as a member of the Company’s board of directors.

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