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The specific terms and conditions of the Option, royalty and warrants (e.g., exercise provisions, rights to documentation, shareholder rights such as pro-rata rights and anti-dilution protections, etc.) shall be set forth in one or more further agreements between Producer and me.

Seems a little wishy-washy, doesn't it? What happens if they can't agree, or do they decide this up-front?

It also seems to imply that they want preferred stock, which strikes me as bit odd, to say the least.

There's a line up out the door with decent companies to take their place. It creates a lot of pressure for the company to just sign it as soon as they can.

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