SEC Contract Filing

Filing Date: 2015-04-15

Document Content:
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<DESCRIPTION>EX-10.1
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">THIS COMPENSATION AGREEMENT ("Agreement") is made and entered into as of April 15, 2015 ("Effective Date") between Indoor Harvest Corp (the "Company") and John Zimmerman (the "Director").</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">1. Background. The Company's Board of Directors has elected the Director to a vacancy on&#160;&#160; such Board of Directors to perform the services of a director as set forth in applicable Company documents including but not limited to the Articles of Incorporation and Bylaws, as well as the Texas law governing Directors (the "Services"). In furtherance thereof, the Company and the Director desire to enter into this Agreement.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">2. Term. This Agreement shall commence on the Effective Date and remain in effect until the&#160;termination of this Agreement in accordance with the termination provisions of this Agreement.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">3. Compensation.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;A. Expenses. The Company will reimburse the Director for reasonable travel and other&#160;incidental expenses incurred by the Director in performing his services and attending meetings as approved in advance by the Company.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;B. Stock Options. The Company shall award to the Director 166,560 shares of Common&#160;Stock pursuant to the Company's 2015 Stock Incentive. The table below sets forth the award date, amount and vesting date.</div>

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<table id="4545f23461434246a31edda215d79873" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BORDER-COLLAPSE: collapse; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Date of Award</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Number of Shares</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Date of Vesting</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">April 15, 2015</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">20,820</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">July 15, 2015</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">July 16, 2015</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">20,820</div>
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<td style="BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 33.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">October 16, 2015</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">October 17, 2015</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">20,820</div>
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