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 (6)
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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: Second and Third Quarters-$150,000 ; Fourth Quarter- $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:
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 upon conclusion of an eighteen (18) month 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 one hundred twenty thousand (120,000) 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; (ii) the second (“Grant Two”) being May 17, 2005; (iii) the third (“Grant Three”) being upon the conclusion of a two (2) year period
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; (ii) the second ("GRANT TWO") being upon the conclusion of a one (1) year period following January 2, 3005; (iii) the third ("GRANT THREE") being upon the conclusion of a two (2) year period following January 3, 2005; (iv) the fourth ("GRANT FOUR") being upon conclusion of a three (3) year period
Sample 1
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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”) 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 Stock Percentage Final Date 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
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 Award In accordance with the Plan, and effective as of _________ __, 201_ (the “Date of Grant”), the Company granted to the Participant, subject to the terms and conditions of the Plan and this Agreement, a Stock Award of ______ shares of Common Stock (the “Stock Award”).

  • 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 grants to Employee the right and option (hereinafter referred to as the "Option") to purchase all or any part of up to ________ shares of the Company's Common Stock (the "Option Shares") on the terms and conditions set forth below and in the Plan.

  • 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.

  • Grant of Stock Appreciation Right Subject to the terms and conditions provided in this Agreement and the Plan, the Company hereby grants to the Recipient a stock appreciation right covering ______ shares of Common Stock (the "SAR"), effective as of the Grant Date.

  • Grant of Stock Appreciation Rights Subject to the terms and conditions of the Plan and this Agreement, the Company hereby grants this Award to the Participant on the Grant Date on the terms set forth on the cover page of this Agreement, as more fully described in this Attachment A. This Award is granted under the Plan, which is incorporated herein by this reference and made a part of this Agreement.

  • Exercise of Stock Options If stock options granted in connection with a Stock Incentive Plan are exercised:

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