Change of Control Bonus. In the event of a change of control of the Company, the Officer shall receive a bonus equal to 1% of the Company’s outstanding Common Stock, not including any shares issued or issuable under identical provisions in the employment agreements of other officers of the Company. Officer shall be responsible for payment of employment taxes associated with the bonus. A “change of control” shall occur if persons are elected by the vote of shareholders of the Company to fill a majority of the positions on the board of directors of the Company who were not nominated or approved by the existing board of directors prior to their election to the board. The Officer shall not be entitled to the Change of Control Bonus if he has previously received a Share Price Bonus above.
Appears in 9 contracts
Samples: Employment Agreement (Environmental Energy Services Inc), Employment Agreement (Environmental Energy Services Inc), Employment Agreement (Blaze Energy Corp.)
