Letter Agreement Regarding Equity Compensation Warrants Between Aegis Identity Software, Inc. and Newport Capital Bancorp LLC

Contract Categories: Human Resources › Consulting Agreements
Summary

Aegis Identity Software, Inc. and Newport Capital Bancorp LLC have agreed, through this letter, to clarify the terms of equity compensation under their July 1, 2015 Consulting Agreement. Both parties confirm that the number of shares and the exercise price for the warrants were calculated based on post-reverse stock split figures. This letter serves to memorialize their mutual understanding and requires Newport Capital Bancorp LLC to sign and return a copy to confirm agreement.

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EX-10.20 26 ex10-20.htm LETTER AGREEMENT WITH NEWPORT CAPITAL BANCORP, LLC. ex10-20.htm
Exhibit 10.20

 
November 2, 2015
 
Newport Capital Bancorp LLC
Attn: Mr. John Vasquez
11777 San Vicente Blvd., #550
Los Angeles, CA 90049
 
RE:
Consulting Agreement, dated July 1, 2015, between Aegis Identity Software, Inc. and Newport Capital Bancorp LLC (“Agreement”)
 
Dear Mr. Vasquez,
 
This letter memorializes the intention of Aegis Identity Software, Inc. and Newport Capital Bancorp LLC with respect to the equity compensation set forth in Section 8 of the Agreement.  The parties agree the number of shares and the exercise price of the warrant were based on post reverse stock split calculations.  Thus, the parties acknowledge that the warrants provided for in the Agreement were intended to reflect the reverse stock split.
 
If Newport Capital Bancorp is in agreement, please return a signed copy of this letter to Aegis Identity.
 

AEGIS IDENTITY SOFTWARE, INC.
  
   
   
/s/ Ralph Armijo by Robert Lamvik
  
Ralph Armijo
  
Executive Chairman
  



ACKNOWLEDGED & AGREED:
  
NEWPORT CAPITAL BANCORP LLC
  
   
   
/s/ John Vasquez
  
John Vasquez
  
Chairman