Compensation Option. In consideration for entering into this Agreement, Key Person shall receive special incentive compensation consisting of an option to purchase 2,500,000 shares of the Company's Common Stock, $0.00001 par value per share ("Option Shares"), exercisable at a price of $0.035 per share ("Option"). The Option shall be exercisable as to ten (10%) of the Option Shares immediately, and as to the remaining ninety (90%) of the Option Shares upon the earliest to occur of the following:
Appears in 4 contracts
Samples: Management Retention Agreement (Rancher Energy Corp.), Management Retention Agreement (Rancher Energy Corp.), Management Retention Agreement (Rancher Energy Corp.)
