Common use of Gross Profit Margin Requirement Clause in Contracts

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. In addition to the Sales Goal Thresholds requirement, a 2527.5% 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.