EX-10.2
from 8-K
5 pages
Directors’ Equity Plan Effective on May 13, 2016 1. Purpose. (A) Arrogene, Inc. (" Arrogene ") Has Established This Directors’ Equity Plan (The " Plan"). (B) the Purpose of the Plan Is to Enable Members of the Board of Directors (The (" Eligible Directors " and " Board ", Respectively) to Receive for Their Board Service Options (“Options”) to Purchase Shares of Arrogene Series a Convertible Preferred Stock (" Shares "). 2. Definitions. (A) Code " Means the Internal Revenue Code of 1986, as Amended, and the Rules and Regulations Promulgated Thereunder. (B) Committee " Means an Existing or Newly Formed Committee of Two or More Independent Directors Appointed by the Board. (C) Employee " Means Any Person Employed by Arrogene or a Subsidiary of Arrogene. Service as a Director or Payment of a Director's Fee by Arrogene or a Subsidiary of Arrogene Alone Shall Not Be Sufficient to Constitute "Employment" by Arrogene or a Subsidiary of Arrogene. (D) Fair Market Value " Means, as of Any Date, the Value of the Shares Determined as Follows
12/34/56