Document:

Converted by EDGARwiz

The Greater Cannabis Company, Inc.

Board of Directors Services Agreement

 

This Board of Directors Services Agreement (the “Agreement”), dated March 10, 2017, is entered into between The Greater Cannabis Company, Inc., Inc., a Florida corporation (“the Company), and Jimmy Wayne Anderson, an individual with a principal place of residence in St. Petersburg, FL (“Director”).

WHEREAS, the Company desires to retain the services of Director for the benefit of the Company and its stockholders; and

WHEREAS, Director desires to serve on the Company’s Board of Directors for the period of time and subject to the terms and conditions set forth herein;

NOW, THEREFORE, for consideration and as set forth herein, the parties hereto agree as follows:

1. Board Duties.  Director agrees to provide services to the Company as a member of the Board of Directors. Director shall, for so long as he remains a member of the Board of Directors, but in any case not less than one year from the date hereof, meet with the Company upon written request, at dates and times mutually agreeable to Director and the Company, to discuss any matter involving the Company or its Subsidiaries, which involves or may involve issues of which Director has knowledge and cooperate in the review, defense or prosecution of such matters. Director acknowledges and agrees that the Company may rely upon Director’s expertise in product development, marketing or other business disciplines where Director has a deep understanding with respect to the Company’s business operations and that such requests may require substantial additional time and efforts in addition to Director’s customary service as a member of the Board of Directors. Director will notify the Company promptly if he is subpoenaed or otherwise served with legal process in any matter involving the Company or its subsidiaries. Director will notify the Company if any attorney who is not representing the Company contacts or attempts to contact Director (other than Director’s own legal counsel) to obtain information that in any way relates to the Company or its Subsidiaries, and Director will not discuss any of these matters with any such attorney without first so notifying the Company and providing the Company with an opportunity to have its attorney present during any meeting or conversation with any such attorney.

2. Compensation.   As compensation for the services provided herein, the Company shall pay to Director an amount equal to Ten Thousand and no/100 dollars ($10,000.00), paid to the Director on the last calendar day of each quarter as long as Director continues to fulfill his duties and provide the services set forth above. In addition to cash compensation, the Director shall be issued a certificate in the amount of Ten Thousand (10,000) shares of the Company's common stock on the last calendar day of each quarter as long as Director continues to fulfill his duties and provide the services set forth above. The Director shall begin receiving compensation for services rendered under this Agreement beginning during the second calendar quarter of 2017.

3. Benefits and Expenses.   The Company shall  reimburse Director for reasonable out-of-pocket expenses incurred in connection with discharging his duties as a Board member. Any additional expenses shall be pre-approved by the President or CFO of the Company and will be reimbursed subject to receiving reasonable substantiating documentation relating to such expenses. 

4. Mutual Non-Disparagement.  Director and the Company mutually agree to forbear from making, causing to be made, publishing, ratifying or endorsing any and all disparaging remarks, derogatory statements or comments made to any party with respect to either of them. Further, the parties hereto agree to forbear from making any public or non-confidential statement with respect to the any claim or complain against either party without the mutual consent of each of them, to be given in advance of any such statement.

5. Anti-Dilution.  The Company agrees to not issue equity capital for consideration less than fair market value, or otherwise issue equity capital that would have the effect of diluting Director’s ownership position in the Company in a manner that is not implemented pro-rata with respect all stockholders. Issuance of stock options or other equity grants to employees or consultants, shares issued in connection with acquisitions approved by the Board of Directors, and shares issued for consideration at fair market value shall not be considered dilutive.

6. Cooperation.  In the event of any claim or litigation against the Company and/or Director based upon any alleged conduct, acts or omissions of Director during the tenure of Director as an officer of the Company, whether known or unknown, threatened or not as of the time of this writing, the Company will cooperate with Director and provide to Director such information and documents as are necessary and reasonably requested by Director or his counsel, subject to restrictions imposed by federal or state securities laws or court order or injunction. The Company shall cooperate in all respects to ensure that Director has access all available insurance coverage and shall do nothing to damage Director’s status as an insured, and shall provide all necessary information for Director to make or tender any claim under applicable coverage.

7. Board of Directors Status of Director.  Director’s membership on the Company's Board of Directors shall not be disturbed for at least the greater of any period of time: (a) specified in any other agreement or contract defining Director’s role as a member of the Board of Directors, (b) a period of one year from the date hereof, or (c) so long as Director owns, directly or indirectly, at least 10% of the issued or outstanding equity stock in the Company. Membership on the Board shall require adherence to board member conduct policies adopted by the board and enforced equally upon all directors.

Director may voluntarily resign his position on the Board of Directors at any time and without penalty or liability of any kind.

8. Confidentiality.  Subject to exceptions mutually agreed upon by the parties to this Agreement in advance and in writing, the terms and conditions of this Agreement shall remain confidential and protected from disclosure except as required by law in connection with any registration or filing, in relation to a lawful subpoena, or as may be necessary for purposes of disclosure to accountants, financial advisors or other experts, who shall be made aware of and agree to be bound by the confidentiality provisions hereof.

9. Governing Law.  This Agreement shall be governed by the law of the State of Florida. In the event of any dispute regarding the performance or terms hereof, the prevailing party in any litigation shall be entitled to an award of reasonable attorneys’ fees and costs of suit, together with any other relief awarded hereunder or in accordance with governing law.

In witness whereof, the parties hereto enter into this Agreement as of the date first set forth above.

 

							
	 
	 
	 
	 
	 
	 
	 

	THE COMPANY:

	  

	 

	 

	  

	DIRECTOR:

	 
	 
	 

	/s/ Jimmy Wayne Anderson

	  

	 
	 
	 
	  

	/s/ Jimmy Wayne Anderson

	Name: Jimmy Wayne Anderson

	  

	 
	 
	 
	  

	Jimmy Wayne Anderson

	Title: PresidentConverted by EDGARwiz

THE GREATER CANNABIS COMPANY, INC.

PROMISSORY NOTE

March 28, 2017

$375.00 USD

4% Interest

Payable on Demand

FOR VALUE RECEIVED, the undersigned The Greater Cannabis Company, Inc. a Florida corporation (the "Issuer"), hereby promise to pay to the order of Expert Witness Locators or its assignee(s) (the "Note Holder(s)") three hundred seventy five dollars ($375.00) USD DUE UPON DEMAND by the note holder six months after the execution of this Promissory Note.  The Note will be paid according to the following terms and conditions:

1. Promise to Pay: Upon demand by the “Note Holder”, the Issuer promises to pay three hundred seventy five dollars ($375.00) USD for monies given to the Issuer, from the date hereof, to compensate the Note Holder for the actual amount paid to the Issuer, Greater Cannabis Company, Inc. as well as interest calculated using the simple annual interest rate of four percent (4%).  This Promissory Note is fully assignable by the Note Holder.

2.

Responsibility: The Issuer is irrevocably responsible and liable for paying the full amount due on this Promissory Note on demand.  

a.

The Note Holder has the option to insist on either cash payment of the balance of the Note, i.e., the obligation plus accrued interest, or, in his/her/its sole discretion, convert the balance of the Note into common shares at the rate of $.001 per share.  

b.

Thus, for example, a Note with a balance of $375.00 would be convertible into the equivalent of 375,000 shares of Common stock of the issuer at the conversion price of $0.001 per share (par value of common shares).  

c. Interest shall not accrue on the Note during the first six months from the date executed.

3.

Default: If for any reason the Issuer fails to make the payment on time, then the Issuer shall be in default.  The Note Holder can then demand immediate payment of the entire remaining unpaid balance of this Promissory Note, without giving anyone further notices.  If the Issuer has not paid the full amount of the Promissory Note when the final payment is due, the Note Holder has the option to convert this Promissory Note at the time of presentation and should the Issuer restructure its capital (i.e., reverse split etc.), that restructure shall have no bearing on the conversion price $0.001 per share equivalent owing at the time of any such conversion.  

4.

The Greater Cannabis Company, Inc. shall not negatively effect any conversion of the debt note held by Expert Witness Locators, LLC or its assignee(s), such that he shall, upon the effect of a reverse split, be entitled to the same number of shares via conversion after the split that he would have been entitled to before such reverse split.  In the event of a forward split, Expert Witness Locators, LLC or its assignee(s) shall enjoy the benefits of being entitled to such additional shares that current shareholders as of the date of record would enjoy.  For example, a forward split of 10 for one would provide ten times the shares upon conversion after the split that Expert Witness Locators or its assignee(s) would have enjoyed prior to such forward split.  

5.

Collection fees: If this note is placed with an attorney for collection, then the Issuer agrees to pay an attorney's fee of fifteen percent (15%) of the unpaid balance.  This fee will be added to the unpaid balance of the Note.

6.

Foreign Exchange:  All conversion will be done on a par value based on the currency the Issuers convertible equity is priced in. 

7.

“Blocker” Provision:  Expert Witness Locators, LLC or its assignee(s) shall not have the right to convert any portion of any such debt note, to the extent that after giving effect to such conversion, Expert Witness Locators, LLC or its assignee(s) (together with his affiliates, should there be any) would beneficially own in excess of 9.99% of the number of shares of common stock of Expert Witness Locators, LLC or its assignee(s) outstanding immediately after giving effect to such conversion.

8.

Assignment:  This instrument may be assigned in total or in any portion thereof without penalty to either the assigning DEBT HOLDER or the assignee DEBT HOLDER.

9.

Assistance:  The obligor of this instrument shall assist holder in assignment of the Note to any designee that holder designates.  In the event that the holder determines to convert the Note into common shares, the issuer/obligor shall assist the holder by issuing such shares negotiable, and, if requested, issuing a letter to the satisfaction of the transfer agent and/or the brokerage firm and its clearing house or agent thereof at no charge to holder within ten (10) days of request by holder.

10.

The parties agree that should any litigation arise in enforcing this instrument or any terms thereof, the jurisdiction shall be a court of original jurisdiction in Escambia County, Florida.

11.

The parties agree that should any litigation arise in enforcing this instrument or any terms thereof, the issuer/obligor shall make payment in advance to holder of one thousand five hundred dollars for court costs including, but not limited to, the filing of a complaint for enforcement.

IN WITNESS WHEREOF, the Issuers have executed and delivered this Note on the date first above written.

Lendor/Holder

/s/ Alexander M. Scheltema

     

_________________

            Alexander M. Scheltema                      Managing Member

Expert Witness Locators, LLC

1001 Ocala Road

Building D, Unit 321 C

Tallahassee, FL 32304

Borrower/Issuer

/s/ Wayne Anderson

     

_________________

            Wayne Anderson

President

The Greater Cannabis Company, Inc.

             244 2nd Ave N., Suite 9

St. Petersburg, FL 33701 

(727) 482-1505

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