Compensation Milestones and Bonus Shares Sample Clauses

Compensation Milestones and Bonus Shares. 3.2.1 If during the Term of this Agreement the milestones listed below are met, the Consultant shall receive the amount of shares of restricted and/or registered common stock of the Company as a bonus (“Stock Bonus”) as listed after each milestone: · Per quoted or listed company: 25,000 shares of the Company’s common stock which will be restricted shares within the meaning of Rule 144 of the Securities Act of 1933, as amended (“Restricted Shares”); · Per new client signed and engaged: 25,000 Restricted Shares of the Company’s common stock; · Any new funding/financing received by the Company: 30,000 shares of which 50% will be Restricted Shares and 50% will be registered on Form S-8 and bear a legend regarding the Consultant’s status as an affiliate within the meaning of Rule 144 (“S-8 Shares”); · Airplane travel for an initial meeting in person with a funding/financing source that provides capital to the Company: 10,000 shares of which 50% will be Restricted Shares and 50% will be S-8 Shares; · The Company’s common stock trades on the American Stock Exchange (the “Amex”), the National Association of Securities Dealers Automated Quotation System (the “NASDAQ”) or the New York Stock Exchange (the “NYSE”) (or any successor to such entities) or any other national securities exchange: 50,000 Restricted Shares; · The PCMC30 becomes a tradable vehicle: 30,000 Restricted Shares; · Consultant performs presentations and/or conference exhibits directed by the Company at industry, trade or other conferences or participates in such conferences, presentations and/or exhibits on behalf of a client: 20,000 Restricted Shares per presentation or conference exhibit plus reimbursement of expenses; · The Company’s net income is $1,000,000 or more during the fiscal year ending September 30, 2007, during any interim period beginning after the Effective Date and ending prior to September 30, 2007 or during any interim period beginning on October 1, 2006 and ending on or before the expiration of this Agreement: 85,000 shares, of which 50% will be Restricted Shares and 50% will be S-8 Shares. The Stock Bonus pursuant to this subsection 3.2.1 is payable quarterly. For purposes of this subsection 3.2.1, the term “quoted or listed company” means any existing or new client of the Company whose common stock is not cleared for quotation on the over-the-counter Bulletin Board or the NASDAQ, or listed, or authorized for listing, on the Amex or the NYSE (or any successor to such entities) o...
Sample 1
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Compensation Milestones and Bonus Shares. 3.2.1 If during the Term of this Agreement the milestones listed below are met, the Consultant shall receive the amount of shares of restricted and/or registered common stock of the Company as a bonus (the “Stock Bonus”) as listed after each milestone: · per quoted or listed company: 25,000 shares of the Company’s common stock which will be restricted shares within the meaning of Rule 144 of the 1933 Act (“Restricted Shares”); · if the Company’s common stock trades on the American Stock Exchange (the “Amex”), the National Association of Securities Dealers Automated Quotation System (the “NASDAQ”) or the New York Stock Exchange (the “NYSE”) (or any successor to such entities) or any other national securities exchange: 50,000 Restricted Shares; · if the Company’s net income is $1,000,000 or more during the fiscal year ending September 30, 2006, during any interim period beginning after the Effective Date and ending prior to September 30, 2006 or during any interim period beginning on October 1, 2006 and ending on or before the expiration of this Agreement: 85,000 shares, of which 50% will be Restricted Shares and 50% will be S-8 Shares; and · Consultant performs presentations directed by the Company at industry, trade or other conferences: 10,000 Restricted Shares per presentation plus reimbursement of expenses.
Sample 1
Compensation Milestones and Bonus Shares. 3.2.1 If during the Term of this Agreement the milestones listed below are met, the Consultant shall receive the amount of shares of restricted and/or registered common stock of the Company as a bonus (the “Stock Bonus”) as listed after each milestone: · per quoted or listed company: 25,000 shares of the Company’s common stock which will be restricted shares within the meaning of Rule 144 of the 1933 Act (“Restricted Shares”); · if the Company’s common stock trades on the American Stock Exchange (the “Amex”), the National Association of Securities Dealers Automated Quotation System (the “NASDAQ”) or the New York Stock Exchange (the “NYSE”) (or any successor to such entities) or any other national securities exchange: 50,000 Restricted Shares; · if the Company’s net income is $1,000,000 or more during the fiscal year ending September 30, 2006, during any interim period beginning after the Effective Date and ending prior to September 30, 2006 or during any interim period beginning on October 1, 2006 and ending on or before the expiration of this Agreement: 85,000 shares, of which 50% will be Restricted Shares and 50% will be S-8 Shares; and · Consultant performs presentations directed by the Company at industry, trade or other conferences: 10,000 Restricted Shares per presentation plus reimbursement of expenses. The Stock Bonus pursuant to this subsection 3.2.1 is payable quarterly. For purposes of this subsection 3.2.1, the term “quoted or listed company” means any existing or new client of the Company whose common stock is not cleared for quotation on the over-the-counter Bulletin Board or the NASDAQ, or listed, or authorized for listing, on the Amex or the NYSE (or any successor to such entities) or any other national securities exchange as of the Effective Date, but such common stock becomes cleared for quotation on any one of such quotation systems or exchanges during the Term of this Agreement.
Sample 1

Related to Compensation Milestones and Bonus Shares

  • Incentive and Bonus Compensation The Executive shall be eligible to participate in the Company’s existing and future bonus and stock option plans and other incentive compensation programs for similarly situated executives (collectively, “Plans”), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Chief Executive Officer and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer’s or the Board’s sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. Except as otherwise provided herein, the terms of each Plan shall govern the Executive’s rights and obligations thereunder during the Executive’s employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of “Cause” hereunder shall not supersede the definition of “cause” in any Plan (unless the Plan expressly defers to the definition of “cause” under an executive’s employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive’s employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Performance Based Bonus As additional compensation, the Executive shall be entitled to receive a performance based bonus, based on meeting revenue and cash flow objectives. The Executive shall be granted options ("Performance Options") to purchase an aggregate of 220,000 shares of Common Stock, subject to anti-dilution provisions relating to adjustments in the event that the Company, among other things, declares stock dividends, effects forward or reverse stock splits, at an exercise price of the fair market value of the date of the grant, and shall be exercisable for a period of four (4) years from the date of vesting unless sooner terminated, as described herein. The date of grant shall be the Effective Date of this Agreement. Up to one-half of these shares will be eligible for vesting on a quarterly basis and the rest annually, with the total grant allocated over a two-year period, starting with the quarter ended December 31, 2007. Vesting of the quarterly portion is subject to achievement of increased revenues over the prior quarter as well as positive and increased net cash flow per share (defined as cash provided by operating activities per the Company’s statement of cash flow, measured before changes in working capital components and not including investing or financing activities) for that quarter. Vesting of the annual portion is subject to meeting the above cash flow requirements on a year-over-year basis, plus a revenue growth rate of at least 30% for the fiscal year over the prior year, starting with the fiscal year ended September 30, 2008. In the event of quarter to quarter decreases in revenues and or cash flow, the Performance Options shall not vest for that quarter but the unvested quarterly Performance Options shall be added to the available Performance Options for the year, vested subject to achievement of the applicable annual goal. In the event this Agreement is not renewed or the Executive is terminated other than for Cause, the Executive shall be entitled to register the stock underlying the vested portion of the Performance Options provided hereunder on the terms and conditions set forth in a registration rights agreement to be mutually agreed upon by and between Executive and the Company. The Company shall file such Registration Statement as promptly as practicable and at its sole expense. The Company will use its reasonable best efforts through its officers, directors, auditors and counsel in all matters necessary or advisable to file and cause to become effective such Registration Statement as promptly as practicable. Company and Executive agree that this bonus program will continue after the initial two-year period, through the end of the Term, with the specific bonus parameters to be negotiated in good faith between the parties at least ninety (90) days before the expiration of the program then in place.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Short-Term Incentive Compensation In addition to the foregoing Base Salary, the Executive shall be eligible during the Term to receive cash short-term incentive compensation, determined and payable in the discretion of the Compensation Committee of the Board. At least annually, the Compensation Committee shall consider awarding short-term incentive compensation to the Executive.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Bonus Compensation The Executive shall not receive any bonus payment whatsoever pursuant to Section 3.02 or the Bonus Plan except such bonus which is already earned and due to be paid up to and including the Termination Date, notwithstanding any period following the Termination Date during which the Executive may receive any payments or benefits under the terms of the Agreement.

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process and in consultation with the Executive, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

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