INITIAL GRANT OF STOCK Sample Clauses

INITIAL GRANT OF STOCK. As a further incentive to Contractor's performance under this Agreement, the company agrees to CONDITIONALLY grant to Contractor shares of common stock in the Company (the "COMMON STOCK") at seven different periods: (i) the first ("GRANT ONE") being upon the conclusion of a 90 day period following the Effective Date, (ii) the second ("GRANT TWO") being upon the conclusion of a 180 day period following the Effective Date, (iii) the third ("GRANT THREE") being upon the conclusion of a 210 day period following the Effective Date, (iv) the fourth ("GRANT FOUR") being upon conclusion of a 1 year period following the Effective Date and the fifth ("GRANT FIVE") being upon conclusion of a 2 year period following the Effective Date, the sixth ("GRANT SIX") being upon conclusion of a 3 year period following the Effective Date and the seventh the ("GRANT SEVEN") being upon conclusion of a 4 year period following the Effective Date (Grant One, Grant Two, Grant Three, Grant Four, Grant Five, Grant Six and Grant Seven may be referred to as "GRANT" or "GRANTS"). Each Grant shall be equivalent to a "STOCK PERCENTAGE" of the Company Equity (defined below) calculated as of the "FINAL DATE" associated with that Grant, as follows: --------------------------- ----------------------------- ---------------------- GRANT STOCK PERCENTAGE FINAL DATE --------------------------- ----------------------------- ---------------------- Grant One 2.0% April 1, 2004 --------------------------- ----------------------------- ---------------------- Grant Two .75% July 1, 2004 --------------------------- ----------------------------- ---------------------- Grant Three .75% October 1, 2004 --------------------------- ----------------------------- ---------------------- Grant Four .75% January 3, 2005 --------------------------- ----------------------------- ---------------------- Grant Five .75% January 2, 2006 --------------------------- ----------------------------- ---------------------- Grant Six .25% January 1, 2007 --------------------------- ----------------------------- ---------------------- Grant Seven .25% January 1, 2008 --------------------------- ----------------------------- ---------------------- The Grant will be earned based upon PERFORMANCE CRITERIA achieved by the Company as defined below. At any time after the Company has implemented an effective ESOP program the Contractor may opt to accept option grants in lieu of restricted Common Stock Grants of an equivalent value to th...
Sample 1See All (5)
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INITIAL GRANT OF STOCK. The company agrees to CONDITIONALLY grant to Consultant shares of common stock in the Company (the "Common Stock") equivalent to an accumulated total of 1.67% ("Stock Percentage") of the Common Stock Equity of the Company (defined below) calculated as of December 31, 2003 ("Final Date"). A portion of the stock grant is earned upon contract signing and the remaining portion of the stock grant will be based on PERFORMANCE CRITERIA achieved by the Company as defined below. The number of shares of Common Stock reflected by the Stock Percentage ("Consultant's Shares") shall be calculated against all issued and outstanding capital stock or other equity or conversion right in the Company. With respect to any convertible stock of the Company, including without limitation preferred stock classes C and D, and any other conversion right, the calculation determining the number of Consultant's Shares shall be made as if each such conversion had taken place in accordance with the conversion rights associated with such security, (without regard to limitations on the number of shares that may be converted in a single instance or in a defined period), on the Final Date ("Imputed Conversion"). The price of the Common Stock to be used for calculating the Imputed Conversion shall be the average price of the Common Stock for the 10 business days prior to the Final Date reflected on the NASD/OTCBB Market or if the Common Stock is no longer listed on that market, the principal securities exchange or trading market on which the Common Stock is listed or traded, including the pink sheets. The final calculation of the total number of Consultant's Shares shall be made within fifteen days of the Final Date, in accordance with the following formula ("Formula"): Total # Consultant's Shares = .0167 x the Equity The Equity = total Common Shares outstanding as of the Final Date + number of Common Shares resulting from Imputed Conversion The CONDITIONAL grant of shares is dependant on PERFORMANCE CRITERIA based on the following minimum gross revenue figures being achieved for the following quarters as listed below: (a) Second and Third Quarter-$150,000; Fourth Quarters- $500,000. Consultant's Shares shall be issued in four installments; the first installment is earned at contract signing, each additional installment is contingent on the achievement of the gross revenue targets listed above for each quarter: (i) upon contract signing, the Company will issue to Consultant a number of shares ...
Sample 1
INITIAL GRANT OF STOCK. The company agrees to CONDITIONALLY grant to Employee shares of common stock in the Company (the "COMMON STOCK") at seven different periods: (i) the first ("GRANT ONE") being upon the conclusion of a 90 day period following the Effective Date, (ii) the second ("GRANT TWO") being upon the conclusion of a 180 day period following the Effective Date, (iii) the third ("GRANT THREE") being upon the conclusion of a 210 day period following the Effective Date, (iv) the fourth ("GRANT FOUR") being upon conclusion of a 1 year period following the Effective Date , the fifth ("GRANT FIVE") being upon conclusion of a 2 year period following the Effective Date, the sixth ("GRANT SIX") being upon conclusion of a 3 year period following the Effective Date and the seventh the ("GRANT SEVEN") being upon conclusion of a 4 year period following the Effective Date (Grant One, Grant Two, Grant Three, Grant Four, Grant Five, Grant Six and Grant Seven may be referred to as "GRANT" or "GRANTS"). Each Grant shall be equivalent to a "STOCK PERCENTAGE" of the Common Stock Equity of the Company (defined below) calculated as of the "FINAL DATE" associated with that Grant, as follows: -------------------- ----------------------- ------------------------------ GRANT STOCK PERCENTAGE FINAL DATE -------------------- ----------------------- ------------------------------
Sample 1
INITIAL GRANT OF STOCK. As of the Effective Date, the Company shall issue to the Executive seventy-two thousand (72,000) shares of the Company’s common stock in accordance with the restricted stock agreement between the Company and the Executive in a form approved by Company’s Board of Directors (the “Restricted Stock Agreement”), provided, however, that in the event that, as of the Effective Date, the Company has not adopted the Company’s 2006 Stock Incentive Plan and caused such plan to be registered with the SEC on form S-8,the Initial Grant of Stock shall be made on the first business day following such adoption and registration.
Sample 1
INITIAL GRANT OF STOCK. The Company agrees to conditionally grant to Employee shares of Common Stock at six different periods: (i) the first ("GRANT ONE") being January 3, 2005;
Sample 1
INITIAL GRANT OF STOCK. The company agrees to conditionally grant to Consultant shares of common stock in the Company (the “Common Stock”) at five different periods: (i) the first (“Grant One”) being upon the conclusion of a 90 day period following the Effective Date, (ii) the second (“Grant Two”) being upon the conclusion of a 180 day period following the Effective Date, (iii) the third (“Grant Three”) being upon the conclusion of a 210 day period following the Effective Date, (iv) the fourth (“Grant Four”) being upon conclusion of a 1 year period following the Effective Date , and the fifth (“Grant Five”) being on May 17, 2005 (Grant One, Grant Two, Grant Three, Grant Four, Grant Five, Grant Six and Grant Seven may be referred to as “Grant” or “Grants”). Each Grant shall be equivalent to a “Stock Percentage” of the Common Stock Equity of the Company (defined below) calculated as of the “Final Date” associated with that Grant, as follows: Grant One 2.5 April 1, 2004 Grant Two 1.00% July 1, 2004 Grant Three 1.00% Oct 1, 2004 Grant Four 2.5% January 3, 2005 Grant Five 0.5% May 17, 2005
Sample 1
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INITIAL GRANT OF STOCK. The Company agrees to conditionally grant to Employee shares of common stock in the Company at five different periods: (i) the first (“Grant One”) being upon the conclusion of a ninety (90) day period following January 2, 2004; (ii) the second (“Grant Two”) being upon the conclusion of a one-hundred-eighty (180) day period following January 2, 2004; (iii) the third (“Grant Three”) being upon the conclusion of a two-hundred-seventy (270) day period following January 2, 2004; (iv) the fourth (“Grant Four”) being upon conclusion of a one (1) year period following the effective date; and (v) the fifth (“Grant Five”) being upon May 16, 2005 (Grant One, Grant Two, Grant Three, Grant Four, and Grant Five) may be referred to collectively as the “Grant” or the “Grants”). Each Grant shall be equivalent to a “Stock Percentage” of the Company Equity (as defined below) calculated as of the “Final Date” associated with that Grant, as follows:
Sample 1
INITIAL GRANT OF STOCK. Within three business days of the Effective Date, the Company shall issue to the Executive fifty thousand (50,000) shares of the Company’s Common stock (the “Shares”) pursuant to the Company’s 2006 Stock Award Plan and in accordance with the restricted stock agreement between the Company and the Executive in the form previously approved by Company’s Board of Directors (the “Restricted Stock Agreement”), provided, however, that the Shares shall vest on the first anniversary of the Effective Date.
Sample 1

Related to INITIAL GRANT OF STOCK

  • Grant of Stock The Company hereby grants to Executive an aggregate of ___________ shares of Restricted Stock (the “Shares”), subject to vesting as provided in Section 2.

  • Grant of Stock Units Pursuant to the terms and conditions set forth in this Stock Award Agreement (including Section 1 above) and the Plan, the Administrator hereby grants to the Awardee named in Section 1, on the Grant Date set forth in Section 1, the number of Stock Units set forth in Section 1.

  • Grant of Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.

  • Grant of Stock Option The Company hereby grants the Optionee an Option to purchase shares of Common Stock, subject to the following terms and conditions and subject to the provisions of the Plan. The Plan is hereby incorporated herein by reference as though set forth herein in its entirety. The Option is not intended to be and shall not be qualified as an “incentive stock option” under Section 422 of the Code.

  • Grant of Shares The Grant Date and number of Shares underlying your Restricted Stock Award are stated on page 1 of this Award Agreement. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the 2008 Plan.

  • Grant of SARs Subject to the terms and conditions of the Plan, SARs may be granted to Employees and Consultants at any time and from time to time as shall be determined by the Committee, in its sole discretion. The Committee shall have complete discretion to determine the number of SARs granted to any Participant, provided that during any Fiscal Year, no Participant shall be granted SARs covering more than 500,000 Shares.

  • Exercise of Stock Options If stock options granted in connection with a Stock Incentive Plan are exercised: (1) Crescent Equities shall, as soon as practicable after such exercise, contribute to the capital of the Partnership an amount equal to the exercise price paid to Crescent Equities by the exercising party; (2) Crescent Equities shall, as of the date on which the purchase of the REIT Shares is consummated by such exercising party, be deemed to have contributed to the Partnership as Contributed Funds pursuant to Section 4.2.A(2) hereof an amount equal to the fair market value (computed using the "closing price" (as such term is defined in the definition of "Value" in Article I hereof) as of the date on which such purchase of REIT Shares is consummated by such exercising party) of the REIT Shares delivered by Crescent Equities to such exercising party; and (3) the General Partner's Partnership Interest shall remain unchanged, and the Partnership Interests of Crescent Equities and the other Limited Partners shall be adjusted as set forth in Section 4.2, based on the amount deemed to be contributed, determined pursuant to Section 4.6.B(2); provided that, for purposes of calculating the "Deemed Value of the Partnership" and the "Deemed Partnership Interest Value" under Section 4.2, the "Value" of a REIT Share shall be the "closing price" (as such term is defined in the definition of the term "Value" in Article I hereof) of a REIT Share as of the date on which the purchase of REIT Shares is consummated by the exercising party.

  • Exercise of Stock Option (a) The Optionee may exercise this Option only in the following manner: from time to time on or prior to the Expiration Date of this Option, the Optionee may give written notice to the Board of Directors or its authorized committee (the “Administrator”) of his or her election to purchase some or all of the vested Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be purchased. Payment of the Stock Option purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) in the form of shares of Stock that are not then subject to restrictions under any Company plan and that have been held by the Optionee for at least six months prior to the exercise date; or (iii) by the Optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Administrator to pay the Stock Option purchase price, provided that in the event the Optionee chooses to pay the Stock Option purchase price as so provided in this subsection (iii), the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as a condition of such payment procedure. Payment instruments will be received subject to collection. The delivery of certificates representing the Option Shares will be contingent upon the Company’s receipt from the Optionee of full payment for the Option Shares, as set forth above and any agreement, statement or other evidence that the Administrator may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. (b) Certificates for shares of Stock purchased upon exercise of this Stock Option shall be issued and delivered to the Optionee upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such issuance and with the requirements hereof and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of the shares subject to this Stock Option, or to have any of the rights of a holder, unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company shall have issued and delivered the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. (c) The minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless the number of shares with respect to which this Stock Option is being exercised is the total number of shares subject to exercise under this Stock Option at the time. (d) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date hereof.

  • Vesting of Stock Options All unvested stock options held by Executive, if any, shall vest immediately upon a Change of Control Termination as defined in Section 6.1.

  • Treatment of Stock Options At the Effective Time, with respect to each outstanding option to purchase Shares (a “Company Option”) under the Company Stock Plans, whether vested or unvested, (x) if the exercise price of such Company Option is equal to or greater than the Cash Election Consideration, such Company Option shall terminate and be cancelled as of immediately prior to the Effective Time, without any consideration being payable in respect thereof, and have no further force or effect, and (y) if the exercise price of such Company Option is less than the Cash Election Consideration, thirty percent (30%) of such Company Options held by each holder thereof (rounded to the nearest whole share), other than any Company Option that is not held by a Company Employee and any Company Option held by a non-employee Director, shall be deemed to be “Rollover Options” and the remaining Company Options (other than Company Options cancelled pursuant to clause (x) above) shall be deemed to be “Cash-Out Options”. At the Effective Time, automatically and without any required action on the part of the holder thereof: (i) each such Cash-Out Option shall terminate and be cancelled as of immediately prior to the Effective Time in exchange for the right to receive, in accordance with this Section 4.6(a), a lump sum cash payment in the amount equal to (i) the number of Shares subject to the Company Option immediately prior to the Effective Time, multiplied by (ii) the excess, if any, of the dollar value of the Cash Election Consideration (the “Cash Award Consideration”), over the applicable exercise price (the “Option Payment”). The Option Payment (if any) payable under this Section 4.6(a) to each former holder of a Company Option that was outstanding immediately prior to the Effective Time shall be paid through the Surviving Company’s payroll to such former holder as soon as practicable following the Effective Time (but in any event not later than ten (10) Business Days thereafter), net of any Taxes withheld pursuant to Section 4.2(h); and (ii) each Rollover Option shall be assumed and converted automatically into a fully-vested option (an “Adjusted Stock Option”) to purchase, on substantially the same terms and conditions (other than vesting) as were applicable under such Rollover Option immediately prior to the Effective Time, the number of shares of Series C Common Stock (rounded down to the nearest whole number of shares) equal to the product of (A) the number of Shares subject to such Rollover Option immediately prior to the Effective Time, multiplied by (B) the Option Exchange Ratio, which Adjusted Stock Option shall have an exercise price per share of Series C Common Stock equal to the quotient (rounded up to the nearest whole cent) obtained by dividing (x) the exercise price per Share subject to such Rollover Option immediately prior to the Effective Time, by (y) the Option Exchange Ratio. The “Option Exchange Ratio” shall equal the quotient (rounded to four decimal places) obtained by dividing (i) the weighted average price of the Class A Shares on the NASDAQ on the Trading Day immediately prior to the date of the Effective Time by (ii) the Average Parent Stock Price.

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