Item 1.01 Entry into a Material Definitive Agreement
On
In addition to the cash compensation specified above, Shefford will be issued stock options over the term, as follows:
? an option to purchase 1,000,000 shares of the Company's common stock, granted
on
the Company's common stock on the grant date (adjusted for splits), such option
to vest in full 90 days after grant; and
? options to purchase 200,000 shares of the Company's common stock, each such
option to be granted on the last day of each month commencing
ending
each such grant date, at an exercise price equal to the closing price of a
share of the Company's common stock on each grant date, each such option to be
fully vested upon grant.
Shefford will be reimbursed for business expenses incurred in connection with the performance of services as the Company's Chief Financial Officer. The agreement with Shefford also contains provisions regarding indemnification and arbitration of disputes.
Item 9.01 Financial Statements and Exhibits
†10.1 Engagement Agreement datedJuly 7, 2021 betweenMedifirst Solutions, Inc. andShefford Capital Management, LLC .
† Management contract or compensatory plan, contract or arrangement
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