Voting Rights of Securities Sold in this Offering
Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
Investment Incentives*
This is what was offered previously during the Microventures raise (edited slightly changing the particular version of the Triton the Investors' names will be on) -
Level 1: $250 - “I invested in Wave Energy Technology” T-shirt with Oscilla Power Logo and Triton Device images printed on it.
Level 2: $500 - Oscilla Power thermal mug with design created by local artist.
Level 3: $2,000 - Virtual meeting with Oscilla Power Management team with the chance to get questions answered.
Level 4: $10,000 - Name of the investor, or other individual or company of donor’s choice, recognized on a plaque that will be installed on the utility-scale Triton prototype to be deployed in india. This would be displayed in a prominent location on the exterior of the wave energy device.
Level 5: $25,000 - Visit to the OPI facility in Seattle and a meet and greet with the team, followed by dinner at a local restaurant with the Management Team. Airfare and 2 nights hotel included.
*All awards are cumulative - a higher level investment would get all the perks included in the levels below it.
**All perks occur when the offering is completed.
