Common use of LAPSE OF RESTRICTIONS; MANAGEMENT OBJECTIVES Clause in Contracts

LAPSE OF RESTRICTIONS; MANAGEMENT OBJECTIVES. The restrictions set forth in Section 2(e) of this Agreement shall lapse upon each of the following conditions being met: (A) at any time during the ten (10) year period beginning on the date of this Agreement, the Company and its Subsidiaries have collectively met the gross revenue goals listed below (except that the final goal listed below shall be limited to the time period indicated); (B) the Recipient is an employee of the Company or one of its Subsidiaries on the date such gross revenue goal is met; and (C) the Recipient has continuously been an employee of the Company or one of its Subsidiaries for two consecutive years, commencing from the date such Recipient was first employed by the Company or its Subsidiaries. The Company intends that conditions (A) and (B) above (but not (C)) must be met simultaneously. Condition (C) may be met before or after the fulfillment of conditions (A) and (B). GROSS REVENUE GOAL NUMBER OF SHARES EARNED $400,000 for any 3 consecutive calendar months 50,000 $600,000 for any 3 consecutive calendar months 50,000 $750,000 for any 3 consecutive calendar months 50,000 $1,000,000 for any 3 consecutive calendar months prior to the expiration of this Agreement 50,000 $1,000,000 for any 3 consecutive calendar months prior to January 1, 1997 50,000