NuGene International, Inc. Board of Directors Appointment Letter Agreement with Theodore Schwarz (June 15, 2016)
NuGene International, Inc. invites Theodore Schwarz to join its Board of Directors. As a board member, Mr. Schwarz will participate in company policy, major decisions, and investor relations, attending four meetings per year and representing the company at key events. He will receive $2,500 per meeting attended and 500,000 shares of company stock, vesting over three years. Board terms are governed by company bylaws and subject to shareholder nomination and election.
Exhibit 10.8
NuGene International, Inc. (NUGN)
June 15, 2016
Theodore Schwarz
Dear Theodore:
On behalf of NuGene International, Inc., I am pleased to invite you to join the Board of Directors of NuGene International, Inc. Our Board and management firmly believes that the future promises to be exciting for NuGene and we feel your experience and leadership in the skincare arena will be invaluable as we grow our company and advance our groundbreaking collection of antiaging products.
The Board of Directors plays a central role in NuGene's success and each Board Member is a business professional who delivers sound business direction, expertise, knowledge, and professional relationships that advance the company's goals and objectives. Additionally, the Board participates in policy development, major decision making and investor relations activities. The Board meets four times a year and on occasion, members of our Board represent NuGene at key fundraising events. The terms of the members of our Company’s Board of Directors are prescribed by our Company’s bylaws and subject to periodic nomination and election by the Company’s shareholders.
In connection with your service, you will be paid $2,500 for each Board of Directors meeting attended. Additionally, you will be issued 500,000 shares of the Company’s common stock that will vest at the rate of 166,666 shares per year, over a three-year period.
I am excited about NuGene's future and I look forward to the solid leadership, fresh ideas and other contributions that you will bring to the company.
Very truly yours,
/s/ Ali Kharazi | |
Ali Kharazmi, CEO | |
NuGene International, Inc. | |
Dated: June 15, 2016 | |
Accepted: | |
/s/ Theodore Schwarz | |
Theodore Schwarz | |
Dated: June 15, 2016 |