Common use of Compensation Warrant Clause in Contracts

Compensation Warrant. On each of the following dates: March 31, 2011; June 30, 2011; September 30, 2011; and December 31, 2011, Executive shall receive a five (5) year cashless warrant to purchase up to 30,000 shares of the Company’s common stock at an exercise price of $.10 per share (the “Compensation Warrant”). During the time when Executive is employed by the Company, and for a period of 5 years thereafter, Executive shall limit Executive’s (or any affiliate of Executive) daily sale of the shares of common stock issued upon exercise of the Compensation Warrant (or any additional shares of common stock received from the Company as compensation) to no more than 5% of the average daily volume of the Company’s common stock as quoted on wxx.xxxxxxxxxx.xxx based upon the average trading volume for the previous 30 trading days.

Appears in 2 contracts

Samples: Employment Agreement (AVT, Inc.), Employment Agreement (AVT, Inc.)

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Compensation Warrant. On each of the following dates: March 31, 2011; June 30, 2011; September 30, 2011; and December 31, 2011, Executive shall receive a five (5) year cashless warrant to purchase up to 30,000 25,000 shares of the Company’s common stock at an exercise price of $.10 per share (the “Compensation Warrant”). During the time when Executive is employed by the Company, and for a period of 5 years thereafter, Executive shall limit Executive’s (or any affiliate of Executive) daily sale of the shares of common stock issued upon exercise of the Compensation Warrant (or any additional shares of common stock received from the Company as compensation) to no more than 5% of the average daily volume of the Company’s common stock as quoted on wxx.xxxxxxxxxx.xxx based upon the average trading volume for the previous 30 trading days.

Appears in 1 contract

Samples: Employment Agreement (AVT, Inc.)

Compensation Warrant. On each of the following dates: March 31, 2011; June 30, 2011; September 30, 2011; and December 31, 2011, Executive shall receive a five one (51) year cashless warrant to purchase up to 30,000 25,000 shares of the Company’s common stock at an exercise price of $.10 per share (the “Compensation Warrant”). During the time when Executive is employed by the Company, and for a period of 5 years thereafter, Executive shall limit Executive’s (or any affiliate of Executive) daily sale of the shares of common stock issued upon exercise of the Compensation Warrant (or any additional shares of common stock received from the Company as compensation) to no more than 5% of the average daily volume of the Company’s common stock as quoted on wxx.xxxxxxxxxx.xxx based upon the average trading volume for the previous 30 trading days. Executive must give notice to the Chairman of AVT board of directors prior to selling any AVT securities.

Appears in 1 contract

Samples: Employment Agreement (AVT, Inc.)

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Compensation Warrant. On each of the following dates: March 31, 2011; June 30, 2011; September 30, 2011; and December 31, 2011, Executive Consultant shall receive a five (5) year cashless warrant to purchase up to 30,000 100,000 shares of the Company’s common stock at an exercise price of $.10 per share (the “Compensation Warrant”). During the time when Executive Consultant is employed by working for the Company, Company and for a period of 5 years thereafter, Executive Consultant shall limit ExecutiveConsultant’s (or any affiliate of ExecutiveConsultant) daily sale of the shares of common stock issued upon exercise of the Compensation Warrant (or any additional shares of common stock received from the Company as compensation) to no more than 5% of the average daily volume of the Company’s common stock as quoted on wxx.xxxxxxxxxx.xxx xxx.xxxxxxxxxx.xxx based upon the average trading volume for the previous 30 trading days.

Appears in 1 contract

Samples: Consulting Agreement (AVT, Inc.)

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