Bonus Stock. A. Subject to the provisions of this Plan, the Committee is hereby authorized to award Bonus Stock to Employees.
B. Bonus Stock shall be Shares that shall be issued at such times, subject to achievement of such performance or other goals and on such other terms and conditions as the Committee shall deem appropriate.
Bonus Stock. Employer shall compensate Employee for Employee’s participation in securing a cumulative direct investment in the Company based on relationships of Employee of Five Million Dollars ($5,000,000) or more and completion of an acquisition valued in excess of $5,000,000 by the issuance of stock to Employee as a bonus equal to 12,500,000 restricted common shares.
Bonus Stock. The number of shares of Bonus Stock eligible to be issued and vest, if any, shall be determined based on achievement of the following Performance Goals. Fifty percent (50%) of the Bonus Stock will vest based on [METRIC 1] (such Bonus Stock, the “[METRIC 1] Bonus Stock”), and the remaining fifty percent (50%) of the Bonus Stock will vest based on [METRIC 2] (such Bonus Stock, the “[METRIC 2] Bonus Stock”), in each case as set forth in the tables below.
i. One third (1/3) of the shares of [METRIC 1] Bonus Stock are eligible to vest based on actual [METRIC 1] for [YEAR 1], one third (1/3) of the [METRIC 1] Bonus Stock are eligible to vest based on actual [METRIC 1] for [YEAR 2], and one third (1/3) of the [METRIC 1] Bonus Stock are eligible to vest based on actual [METRIC 1] for [YEAR 3]. One third (1/3) of the shares of [METRIC 2] Bonus Stock are eligible to vest based on actual [METRIC 2] for [YEAR 1], one third (1/3) of the [METRIC 2] Bonus Stock are eligible to vest based on actual [METRIC 2] for [YEAR 2], and one third (1/3) of the [METRIC 2] Bonus Stock are eligible to vest based on actual [METRIC 2] for [YEAR 3]. Shares of Bonus Stock that do not vest for a particular Fiscal Year based on the Company’s actual performance for that Fiscal Year are forfeited and not eligible to vest in a subsequent year.
ii. If [METRIC 1] is equal to or below the applicable Bonus Stock Threshold, then zero percent (0%) of the [METRIC 1] Bonus Stock will vest, and if [METRIC 2] is equal to or below the applicable [METRIC 2] Bonus Stock Threshold, then zero percent (0%) of the [METRIC 2] Bonus Stock will vest. If [METRIC 1] is at or above the applicable Bonus Stock Maximum, then one hundred percent (100%) of the [METRIC 1] Bonus Stock will vest, and if [METRIC 2] is at or above the applicable Bonus Stock Maximum, then one hundred percent (100%) of the [METRIC 2] Bonus Stock will vest. If either [METRIC 1] and/or [METRIC 2] is between the various thresholds set forth in the tables below, a pro-rata percentage of [METRIC 1] Bonus Stock and/or [METRIC 2] Bonus Stock relative to the applicable percentages will vest, as applicable. For the avoidance of doubt, [METRIC 1] Bonus Stock and [METRIC 2] Bonus Stock may vest at different percentages, and in no event shall the aggregate amount of [METRIC 1] Bonus Stock and [METRIC 2] Bonus S5tock that vests exceed the aggregate amount of Bonus Stock. [METRIC 1] Actual [YEAR 2] +% below [METRIC 2] Actual [YEAR 2] +% below Percentage of [M...
Bonus Stock. The number of shares of Bonus Stock eligible to be issued and vest, if any, shall be determined based on achievement of the Performance Goals set forth in the table below (such Bonus Stock, the “rTSR Bonus Stock”).
i. The shares of rTSR Bonus Stock are eligible to be issued and vest based on rTSR measured at the end of [YEAR 3]. Shares of rTSR Bonus Stock that do not vest based on the Company’s actual performance are not eligible to be issued.
ii. If rTSR is at or below the Bonus Stock Threshold set forth below, then zero percent (0%) of the rTSR Bonus Stock will vest. If rTSR is at or above the Bonus Stock Maximum set forth below, then one hundred percent (100%) of the rTSR Bonus Stock will vest. If rTSR is between the various thresholds set forth in the table below, a pro-rata percentage of rTSR Bonus Stock relative to the applicable percentages will vest.
Bonus Stock. On the Termination Date, the Bonus Stock shall immediately vest. USAi shall pay all required federal, state and local tax withholding related to the vesting of the Bonus Stock. USAi shall, as promptly as practicable after, but in any event within 10 days following, the Termination Date deliver to you an unlegended share certificate (freely tradeable) representing that number of shares of USAi Common Stock as shall be equal to the number of shares of Bonus Stock less such number of shares as have a value equal to the amount withheld by USAi under the second sentence of this paragraph 5. The stock price used to calculate the number of shares to be withheld shall be the closing price of USAi Common Stock on the Termination Date.
Bonus Stock. Subject to all of the other terms and conditions of this Agreement, and in addition to the monetary compensation set forth in Section 2 hereof, the Company agrees to issue to the Executive during the Employment Period Common Stock (as defined in Section 5(c)) of the Company totaling up to four percent (4%) of the sum of (a) the issued and outstanding Common Stock (hereinafter defined) of the Company as of the date of this Agreement, plus (b) any Common Stock which may hereafter be issued by the Company to Enron Capital & Trade Resources Corp., or its designees (collectively, "Enron"), including without limitation Joint Energy Development Investments Limited Partnership and Joint Energy Development Investments II Limited Partnership, in connection with the extension, renewal, and modification of the Company's existing credit facility with Enron or its Affiliates substantially on the terms set forth in that certain Term Sheet dated as of March 10, 1999 (accepted as of March 15, 1999), between Enron Capital & Trade Resources Corp. and the Company or on such other terms as may be mutually acceptable to those parties and the Executive (any such extension, renewal, and modification so effectuated being hereinafter referred to as the "Enron Loan Modification") (all such stock to be so issued to the Executive pursuant to this Section 3 being hereinafter referred to as the "Bonus Stock"), as follows.
(a) The Company shall issue one-half (1/2) of the Bonus Stock to the Executive on or before sixty (60) days following the Commencement Date;
(b) The Company shall issue the remaining one-half (1/2) of the Bonus Stock to the Executive in equal one-fifth (1/5) proportions on each of the next five (5) ensuing anniversary dates of the Commencement Date, starting May 1, 2000 and continuing through May 1, 2004 when the entirety of the Bonus Stock shall have been issued;
(c) Contemporaneously with the execution and delivery of this Agreement, but effective as of the Commencement Date, the Company and the Executive are entering into a shareholder agreement that is substantially identical in form and substance to that attached hereto as Exhibit A (the "Shareholder Agreement"). All Bonus Stock issued by the Company pursuant to this Agreement shall be issued expressly subject to the terms, provisions, and conditions of the Shareholder Agreement;
(d) The Company shall from time to time, as may be necessitated by issuances of Common Stock in the Company to Enron pursuant to the Enr...
Bonus Stock. It is acknowledged that the Company is in the process of authorizing "Series B Convertible Common Stock" which shall have the same rights as all other shares of the Company's Common Stock except that each one (1) share of the Series B Convertible Common Stock shall have the same votes as ten thousand (10,000) shares of all other Company Common Stock and the Series B Convertible Common Stock shall automatically convert to shares of the Company's remaining Common Stock on the basis of one share for one share three (3) years from the date of issuance of such Series B Convertible Common Stock. As part consideration for executing this Agreement, the Company hereby agrees to issue ten thousand (10,000) shares of its $.001 par value Series B Convertible Common Stock to Petexxxx upon the Company obtaining the appropriate corporate approvals for the establishment and issuance of such Series B Convertible Common Stock."
6. Section numbered 12, "Notices" is amended by changing the notification addresses to read as follows: "If to the Company: quepxxx.xxx, xxc. 400 X. Xxx Xxxxx, Xxite 400 Phoenix, AZ 85004 If to Silbxxxxx: Jeffxxx X. Xxxxxxxx 400 X. Xxx Xxxxx, Xxite 400 Phoenix, AZ 85004"
Bonus Stock a. Provided that the Employment Agreement is then still in full force and effect, on each of June 30, 2006, June 30, 2007 and June 30, 2008, the Company shall grant to the Employee a bonus of 250,000 shares of common stock (the "Bonus Stock"),
b. Prior to the date of grant of any Bonus Stock, the Company shall use commercially reasonable efforts to adopt an Equity Incentive Plan permitting the grant of the Bonus Stock, and any Bonus Stock granted pursuant to this Section 6 shall be granted pursuant to the Equity Incentive Plan.
c. Also prior to the date of grant of any Bonus Stock, the Company shall use commercially reasonable efforts to register the Bonus Stock with the SEC on one or more Form S-8 registration statements (the "Bonus Stock Registration Statement").
Bonus Stock. In the event that the Buyer achieves gross annual sales of Five Million Dollars (US$5,000,000.00) or more as of any date within three (3) years following the Effective Date (a “Bonus Stock Event”), the Buyer shall deliver to the Seller, within twenty (20) business days of the Bonus Stock Event, an amount of shares of Common Stock equal to Five Hundred Thousand Dollars ($500,000.00), at a price per share equal to the closing bid price of the Common Stock on the Closing Date.
Bonus Stock. In the event that during the Warrant Period the Company shall distribute a dividend or stock pursuant to a reclassification of its stock capital to all of the stockholders of the Company (i.e., bonus shares), then this Warrant shall represent the right to acquire, in addition to the number of Warrant Stock indicated in the caption of this Warrant, the amount of such bonus shares and/or to receive the stock dividends, without payment of any additional consideration therefor, to which the Holder would have been entitled had this Warrant been exercised prior to the distribution of the stock dividends or the bonus shares.
