SEC Contract Filing

Filing Date: 2017-04-13

Document Content:
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<TYPE>EX-10.3
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<FILENAME>stockagreement_dougpolinskyf.htm
<DESCRIPTION>STOCK AGREEMENT OF DOUGLAS POLINSKY DATED APRIL 13, 2017
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<TITLE>Confidential</TITLE>
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<META NAME="date" CONTENT="04/12/2017">
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<P style="margin:0px; font-family:'Times New Roman Bold,Times New Roman'; font-size:12pt" align=center><B>STOCK AGREEMENT</B></P>
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<P style="margin:0px; font-size:12pt" align=justify>This Stock Agreement (the &#147;Agreement&#148;), dated as of April 13, 2017, confirms our understanding with respect to the issuance of Common Stock of Liberated Syndication Inc. (the &#147;Company&#148;) to Douglas Polinsky (the &#147;Director&#148;) with respect to the matters set forth herein. </P>
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<P style="margin:0px; font-size:12pt" align=justify>The Board of directors has awarded 300,000 shares of the Company&#146;s common stock (the &#147;stock&#148;), subject to certain milestones and forfeiture clauses, to the director. &nbsp;In an effort to incentivize the Directors, the Board of Directors has set forth the follow milestones and forfeiture clauses for these shares of stock.</P>
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<P style="margin:0px; font-size:12pt" align=justify>1. &nbsp;&nbsp;&nbsp;<B>$25 Million Market Cap</B></P>
<P style="margin:0px; padding-left:24px; font-size:12pt" align=justify>When the company obtains a $25Million average market cap for any 5 consecutive days, the director will retain 25% of the stock (75,000 shares). &nbsp;If not obtained within 12 months of the date of this agreement, 25% of the stock will be forfeited by the director.</P>
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<P style="margin:0px; font-size:12pt" align=justify><B>2. &nbsp;&nbsp;&nbsp;$50 Million Market Cap</B></P>
<P style="margin:0px; padding-left:24px; font-size:12pt" align=justify>When the company obtains a $50Million average market cap for any 5 consecutive days, the director will retain 25% of the stock (75,000 shares). &nbsp;If not obtained within 18 months of the date of this agreement, 25% of the stock will be forfeited by the director.</P>
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<P style="margin:0px; font-size:12pt" align=justify><B>3. &nbsp;&nbsp;&nbsp;$75 Million Market Cap</B></P>
<P style="margin:0px; padding-left:24px; font-size:12pt" align=justify>When the company obtains a $75Million average market cap for any 5 consecutive days, the director will retain 25% of the stock (75,000 shares). &nbsp;If not obtained within 24 months of the date of this agreement, 25% of the stock will be forfeited by the director.</P>
<P style="margin:0px; font-size:12pt" align=justify>&nbsp;</P>
<P style="margin:0px; padding-right:4.8px; font-size:12pt" align=justify><B>4. &nbsp;&nbsp;&nbsp;Up-list to NASDAQ</B></P>
<P style="margin:0px; padding-left:24px; font-size:12pt" align=justify>The date the Company up-lists to NASDAQ, the director will retain 25% of the stock (75,000 shares). &nbsp;If not obtained within 24 months of the date of this agreement, 25% of the stock will be forfeited by the director.</P>
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<P style="margin:0px; font-size:12pt" align=justify><B>ACCEPTED AND AGREED TO:</B></P>
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<P style="margin:0px; font-size:12pt"><B>Douglas Polinsky</B></P>
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<P style="margin:0px; font-size:12pt" align=justify>By:/s/ Douglas Polinsky</P>
<P style="margin:0px; font-size:12pt" align=justify>Name: Douglas Polinsky</P>
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<P style="margin:0px; font-size:12pt" align=justify><B>Liberated Syndication Inc.</B></P>
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<P style="margin:0px; font-size:12pt">By: &nbsp;/s/ <A NAME="_GoBack"></A>Christopher Spencer </P>
<P style="margin:0px; font-size:12pt" align=justify>Name: &nbsp;Christopher Spencer</P>
<P style="margin:0px; font-size:12pt">Title: &nbsp;Board Chair and CEO</P>
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