Gross Profit Margin Requirement. “Gross Profit Margin” is calculated by taking Gross Profit and dividing it by Total Sales Revenue. Notwithstanding the foregoing, at the sole discretion of the Company’s Board of Directors, upon recommendation of the Compensation Committee, the Gross Profit Margin Requirement described in this Section 4.3 may be decreased or waived entirely for an acquisition(s) or merger or otherwise adjusted as determined by the Compensation Committee. This Section 4.3 in no way requires the Corporation to make an acquisition(s) or merge with any other entity.”
Gross Profit Margin Requirement. In addition to the Sales Goal Thresholds requirement, a 25% Gross Profit Margin must be achieved for the number of Options apportioned to each Sales Goal Threshold set forth in Section 4.1 to vest. “Gross Profit Margin” is calculated by taking Gross Profit and dividing it by Total Sales Revenue. Notwithstanding the foregoing, at the sole discretion of the Company’s Board of Directors, upon recommendation of the Compensation Committee, the Gross Profit Margin Requirement described in this Section 4.3 may be decreased or waived entirely for an acquisition(s) or merger or otherwise adjusted as determined by the Compensation Committee. This Section 4.3 in no way requires the Corporation to make an acquisition(s) or merge with any other entity.
Gross Profit Margin Requirement. Executive is required to not only meet the Sales Goal Thresholds set forth in Section 7.3 but also a 25% Gross Profit Margin in order to receive the Shares described in Section 7.3. Gross Profit Margin is calculated taking Gross Profit and dividing it by Total Revenue. Notwithstanding the foregoing, at the sole discretion of the Corporation's Board of Directors, the Gross Profit Margin Requirement described herein may be decreased or waived entirely for an acquisition(s) or merger. This Section 7.5 in no way requires the Corporation to make an acquisition(s) or merge into another entity.
