Additional Stock Compensation Sample Clauses

Additional Stock Compensation. As additional compensation for the Services provided to the Company hereunder, the Director is also entitled to receive from the Company on the Amendment Effective Date, a non-qualified stock option (the “Additional Stock Option”) to purchase 200,000 shares of the Company’s common stock, with the exercise price determined by using the closing bid price of the Company’s common stock on the Amendment Effective Date. Pursuant to the terms of the Agreement, vesting shall be as follows: (i) 100,000 of the shares underlying the Stock Option shall vest on the first anniversary of the Effective Date; and (ii) 100,000 of the shares underlying the Additional Stock Option shall vest on the second anniversary of the Effective Date; however, if a change of control event occurs (as defined in the New Award Agreement (as defined below)), all unvested shares shall vest immediately. Any and all equity awards shall be granted under and shall be subject to the terms and provisions of the Incentive Plan, and shall be granted subject to the execution and delivery of a stock option award agreement, as previously approved by the Board in substantially the form attached hereto as Exhibit B (the “New Award Agreement”). The parties hereby agree that to the extent permitted by the Incentive Plan, in the event the Company effects one or more reverse stock splits of its common stock, the number of shares underlying the Additional Stock Option and the exercise price of the Additional Stock shall be adjusted in proportion to the reverse stock split ratio.

Additional Stock Compensation. On his first day of employment, Executive will be awarded restricted stock and incentive stock options as follows: 60,000 shares of restricted stock vesting over a three-year period (with an annual vesting schedule of 10,000, 15,000 and 35,000 shares beginning April 1, 2011); and 40,000 incentive stock options vesting over a four-year period commencing April 1, 2011 (with an annual vesting schedule of 5,000, 5,000, 10,000, and 20,000 shares).

Additional Stock Compensation. As compensation for his services, Company shall issue 2,500 shares of Company stock to Executive as soon as practicable after each of the first three anniversary dates of Executive's first date of employment with Company (for a total of 7,500 shares), provided that Executive remains employed by Company on such dates. In the event that Executive's employment is terminated by Company, 7,500 shares of stock, less any amounts already awarded under this Section 3(f), shall be awarded to Executive as soon as practicable after termination.

Additional Stock Compensation. The Company agrees to cause the issuance of an additional 3,000,000 shares of restricted Common Stock, with a vesting schedule as follows: