Common use of Achievement Incentive Clause in Contracts

Achievement Incentive. (a) As soon as practicable following June 30, 1999, the Employee shall be entitled to receive the amount determined under paragraph (c) below (the "Achievement Incentive"), provided that: (i) the Employee is employed by the Company on June 30, 1999 or his employment has been terminated prior to such date by the Company other than for Cause or by the Employee following a Material Employment Change or by reason of the Employee's death or Disability; and (ii) the average closing price of the Common Stock on the Exchange during the Closing Period is at least $2.00 per share. (b) If (i) the average closing price of the Common Stock on the Exchange during the Closing Period is less than $2.00 per share or (ii) the Employee's employment is terminated prior to June 30, 1999 by the Company for Cause or by the Employee other than (A) following a Material Employment Change or (B) on account of the Employee's death or Disability, no Achievement Incentive shall be paid to the Employee. (c) If an Achievement Incentive becomes payable in accordance with paragraph (a) above, the amount of such Achievement Incentive shall be equal to the sum of (i) $99,655 plus (ii) the product of (A) $99,655 multiplied by (B) a fraction, the numerator of which is the excess, if any, of the average closing price of the Common Stock on the Exchange during the Closing Period over $2.00, and the denominator of which is $3.00 (provided, however, that in no event shall such fraction exceed 1). (d) If an Achievement Incentive becomes payable to the Employee, then (i) the first 40% of such Achievement Incentive shall be paid in cash and (ii) the remaining 60% of such Achievement Incentive shall be paid in cash, Common stock or a combination thereof, as determined in the sole discretion of the Company. (e) Appropriate adjustments in the dollar amounts set forth in Sections 3(a)(ii), 3(b)(i) and 3(c)(ii)(B) shall be made by the Company to give effect to changes in the Common Stock resulting from subdivisions, consolidations or reclassifications of the Common Stock, the payment of dividends or other distributions by the Company (other than dividends or other distributions determined by the Company to be in the ordinary course), mergers, consolidations, combinations or similar transactions or other relevant changes in the capital of the Company.

Achievement Incentive. (a) As soon as practicable following June 30, 1999, the Employee shall be entitled to receive the amount determined under paragraph (c) below (the "Achievement Incentive"), provided that: (i) the Employee is employed by the Company on June 30, 1999 or his employment has been terminated prior to such date by the Company other than for Cause or by the Employee following a Material Employment Change or by reason of the Employee's death or Disability; and (ii) the average closing price of the Common Stock on the Exchange during the Closing Period is at least $2.00 per share. (b) If (i) the average closing price of the Common Stock on the Exchange during the Closing Period is less than $2.00 per share or (ii) the Employee's employment is terminated prior to June 30, 1999 by the Company for Cause or by the Employee other than (A) following a Material Employment Change or (B) on account of the Employee's death or Disability, no Achievement Incentive shall be paid to the Employee. (c) If an Achievement Incentive becomes payable in accordance with paragraph (a) above, the amount of such Achievement Incentive shall be equal to the sum of (i) $99,655 125,000 plus (ii) the product of (A) $99,655 125,000 multiplied by (B) a fraction, the numerator of which is the excess, if any, of the average closing price of the Common Stock on the Exchange during the Closing Period over $2.00, and the denominator of which is $3.00 (provided, however, that in no event shall such fraction exceed 1). (d) If an Achievement Incentive becomes payable to the Employee, then (i) the first 40% of such Achievement Incentive shall be paid in cash and (ii) the remaining 60% of such Achievement Incentive shall be paid in cash, Common stock or a combination thereof, as determined in the sole discretion of the Company. (e) Appropriate adjustments in the dollar amounts set forth in Sections 3(a)(ii), 3(b)(i) and 3(c)(ii)(B) shall be made by the Company to give effect to changes in the Common Stock resulting from subdivisions, consolidations or reclassifications of the Common Stock, the payment of dividends or other distributions by the Company (other than dividends or other distributions determined by the Company to be in the ordinary course), mergers, consolidations, combinations or similar transactions or other relevant changes in the capital of the Company.

Achievement Incentive. (a) As soon as practicable following June 30, 1999, the Employee shall be entitled to receive the amount determined under paragraph (c) below (the "Achievement Incentive"), provided that: (i) the Employee is employed by the Company on June 30, 1999 or his employment has been terminated prior to such date by the Company other than for Cause or by the Employee following a Material Employment Change or by reason of the Employee's death or Disability; and (ii) the average closing price of the Common Stock on the Exchange during the Closing Period is at least $2.00 per share. (b) If (i) the average closing price of the Common Stock on the Exchange during the Closing Period is less than $2.00 per share or (ii) the Employee's employment is terminated prior to June 30, 1999 by the Company for Cause or by the Employee other than (A) following a Material Employment Change or (B) on account of the Employee's death or Disability, no Achievement Incentive shall be paid to the Employee. (c) If an Achievement Incentive becomes payable in accordance with paragraph (a) above, the amount of such Achievement Incentive shall be equal to the sum of (i) $99,655 58,440 plus (ii) the product of (A) $99,655 58,440 multiplied by (B) a fraction, the numerator of which is the excess, if any, of the average closing price of the Common Stock on the Exchange during the Closing Period over $2.00, and the denominator of which is $3.00 (provided, however, that in no event shall such fraction exceed 1). (d) If an Achievement Incentive becomes payable to the Employee, then (i) the first 40% of such Achievement Incentive shall be paid in cash and (ii) the remaining 60% of such Achievement Incentive shall be paid in cash, Common stock or a combination thereof, as determined in the sole discretion of the Company. (e) Appropriate adjustments in the dollar amounts set forth in Sections 3(a)(ii), 3(b)(i) and 3(c)(ii)(B) shall be made by the Company to give effect to changes in the Common Stock resulting from subdivisions, consolidations or reclassifications of the Common Stock, the payment of dividends or other distributions by the Company (other than dividends or other distributions determined by the Company to be in the ordinary course), mergers, consolidations, combinations or similar transactions or other relevant changes in the capital of the Company.

Achievement Incentive. (a) As soon as practicable following June 30, 1999, the Employee shall be entitled to receive the amount determined under paragraph (c) below (the "Achievement Incentive"), provided that: (i) the Employee is employed by the Company on June 30, 1999 or his employment has been terminated prior to such date by the Company other than for Cause or by the Employee following a Material Employment Change or by reason of the Employee's death or Disability; and (ii) the average closing price of the Common Stock on the Exchange during the Closing Period is at least $2.00 per share. (b) If (i) the average closing price of the Common Stock on the Exchange during the Closing Period is less than $2.00 per share or (ii) the Employee's employment is terminated prior to June 30, 1999 by the Company for Cause or by the Employee other than (A) following a Material Employment Change or (B) on account of the Employee's death or Disability, no Achievement Incentive shall be paid to the Employee. (c) If an Achievement Incentive becomes payable in accordance with paragraph (a) above, the amount of such Achievement Incentive shall be equal to the sum of (i) $99,655 88,983 plus (ii) the product of (A) $99,655 88,983 multiplied by (B) a fraction, the numerator of which is the excess, if any, of the average closing price of the Common Stock on the Exchange during the Closing Period over $2.00, and the denominator of which is $3.00 (provided, however, that in no event shall such fraction exceed 1). (d) If an Achievement Incentive becomes payable to the Employee, then (i) the first 40% of such Achievement Incentive shall be paid in cash and (ii) the remaining 60% of such Achievement Incentive shall be paid in cash, Common stock or a combination thereof, as determined in the sole discretion of the Company. (e) Appropriate adjustments in the dollar amounts set forth in Sections 3(a)(ii), 3(b)(i) and 3(c)(ii)(B) shall be made by the Company to give effect to changes in the Common Stock resulting from subdivisions, consolidations or reclassifications of the Common Stock, the payment of dividends or other distributions by the Company (other than dividends or other distributions determined by the Company to be in the ordinary course), mergers, consolidations, combinations or similar transactions or other relevant changes in the capital of the Company.