Equity Ownership Requirement. In order to more closely align Employee’s interest in the Company with that of its stockholders, Employee and the Company agree as follows: (i) within 12 months of the Effective Date, Employee agrees to have acquired (through purchase, grant or exercise), at his cost and expense, Company common stock in an aggregate amount not less than $43,000, including any current ownership of Company common stock; (ii) within 24 months of the Effective Date, Employee agrees have acquired (through purchase, grant or exercise), at his cost and expense, Company common stock in an aggregate amount not less than $86,000, including any current ownership of Company common stock; (iii) within 36 months of the Effective Date, Employee agrees to have acquired (through purchase, grant or exercise), at his cost and expense, Company common stock in an aggregate amount not less than $129,000, each such dollar amount to be calculated based on the greater of cost basis or market; and (iv) Employee agrees to maintain such total equity ownership position throughout the remainder Employment Term (the foregoing requirements shall be collectively referred to as the “Equity Ownership Requirement”).
Equity Ownership Requirement. In order to more closely align Executive’s interest in the Company with that of its stockholders, Executive and the Company agree as follows: (i) Executive agrees to maintain a total equity ownership position in the Company with an aggregate value of not less than Three Hundred Thousand Dollars and No/100 ($300,000.00) such dollar amount to be calculated based on the greater of cost basis, grant date value or market; and (ii) Executive agrees to maintain such total equity ownership position throughout the remainder Employment Term (the foregoing requirements shall be collectively referred to as the “Equity Ownership Requirement”). Granted and unvested time-vesting restricted stock shall be counted towards the Equity Ownership Requirement.
Equity Ownership Requirement. In order to more closely align Executive’s interest in the Company with that of its stockholders, Executive and the Company agree as follows: (i) Within 12 months of the Effective Date, Executive agrees to purchase, at his cost and expense, Company common stock in an aggregate amount not less than $250,000, including any current ownership of Company common stock; (ii) within 12 months of the Effective Date, Executive further agrees to maintain a total equity ownership position in the Company, at his cost and expense, with an aggregate value of not less than $600,000 (two times his annual Base Salary as of the Effective Date (including, not in addition to, the foregoing $250,000 of stock)), such dollar amount to be calculated based on the greater of cost basis or market; and (iii) Executive agrees to maintain such total equity ownership position throughout the remainder Employment Term (the foregoing requirements shall be collectively referred to as the “Equity Ownership Requirement”).
Equity Ownership Requirement. In order to more closely align Executive’s interest in the Company with that of its stockholders, Executive and the Company agree as follows: (i) Within thirty-six (36) months of the Effective Date, Executive agrees to maintain a total equity ownership position in the Company with an aggregate value of not less than Nine Hundred Seventy-Five Thousand and No/100 Dollars ($975,000.00) (three times his annual Base Salary as of the Effective Date, such dollar amount to be calculated based on the greater of cost basis, grant date value or market; and (ii) Executive agrees to maintain such total equity ownership position throughout the remainder Employment Term (the foregoing requirements shall be collectively referred to as the “Equity Ownership Requirement”). Granted and unvested time-vesting restricted stock shall be counted towards the Equity Ownership Requirement.
Equity Ownership Requirement. In consideration for your right to be eligible to receive the Retention Bonus Installments, you agree that (i) prior to the Closing Date, you may not dispose of any shares of common stock of the Company if, immediately following such sale, you would be anticipated to own less than 25,000 shares of common stock of Parent if such shares of common stock of the Company were converted into shares of common stock of Parent immediately following such sale, and (ii) prior to the 18-month anniversary of the Closing Date, you may not dispose of any shares of common stock of Parent (including upon the exercise of options to purchase shares of common stock of Parent) if, immediately following such sale, you would own less than 50,000 shares of common stock of Parent. You agree that under no circumstances shall you acquire any derivative securities or similar instruments that would offset, or hedge against, the economic interest in Parent represented by the terms of the preceding sentence. Your obligations under this paragraph shall cease to apply upon a “Change in Control” (as defined in the Parent Stock Plan).
Equity Ownership Requirement. During the Term, Executive shall be required to own Company stock in an aggregate then-current fair market value equal to Executive’s then-current Base Salary multiplied by five (the “Ownership Level”).
