Market Capitalization Milestones. If the Company’s common stock is publicly traded during the Term and the market capitalization of the Company is for 20 consecutive trading days during the Term at or above the following milestones, the Executive shall receive, within five business days following such 20th consecutive trading day, an award of shares of Company common stock (a) which shall vest quarterly over a three year period after the grant, and (b) that, upon the date of the grant, shall have an aggregate value equal the percentage of the market capitalization set forth next to the applicable milestone* below based on the closing price of the common stock on the Principal Market on the date of the grant (the “Fair Market Value”): Company Market Capitalization Milestone Percentage $100,000,000 0.0% $150,000,000 ..5% $200,000,000 1.0% $250,000,000 1.0% $300,000,000 1.5% $350,000,000 1.5% $400,000,000 2.5% $450,000,000 3.0% $500,000,000 3.5% every additional $100,000,000 thereafter (cumulated with the applicable immediately preceding milestone) 3.5% Each milestone above is a separate milestone for which the Executive may earn the applicable percentage. The Executive will be entitled to earn the applicable percentage for each milestone only once. The Company’s market capitalization for each applicable milestone and measurement period will be determined based on the market capitalization reported by Bloomberg LP. * For example: If the Company’s market capitalization is at least $250,000,000 as of market close for at least 20 consecutive trading days and the Fair Market Value is $12.50 per share, Executive shall receive 800,000 fully vested shares of common stock of the Company (800,000 *$12.50 = $10,000,000 which is 4% of $250,000,000).
Market Capitalization Milestones. (i) Subject to Executive’s continued employment, upon (or as soon as administratively practicable following) the Board’s (or a duly-authorized committee’s) determination that the Market Capitalization (as defined below) of the Company has, for the first time, exceeded One Hundred Twenty-Five Million Dollars ($125,000,000) for a period of thirty (30) consecutive trading days during the Term and the average trading volume of the Company’s common stock (the “Common Stock”) during such period is at least Fifty Thousand (50,000) shares per trading day (the “First Capitalization Milestone”), then the Company shall pay to the Executive a one time cash bonus of Sixty-Two Thousand, Five Hundred Dollars ($62,500), subject to standard payroll deductions and withholdings.
Market Capitalization Milestones. If the Company’s common stock is publicly traded during the Term and the market capitalization of the Company is, for ten (10) consecutive trading daysduring the Term, at or above the following milestones, Executive shall receive, within five business days following such 10th consecutive trading day, an Equity Award of shares of Company common stock that: (a) shall vest upon the later of January 31, 2025 and the end of the third full month following the date of the grant; and (b) upon the date of the grant, shall have an aggregate value equal to the amount set forth next to the applicable milestone below based on the closing price of the common stock on the Principal Market on the date of the grant: Company Market Capitalization Milestone Amount of Equity Award $ 250,000,000 $ 2,500,000 $ 500,000,000 $ 3,500,000 $ 750,000,000 $ 5,000,000 $ 1,000,000,000 $ 7,000,000 $ 1,250,000,000 $ 10,000,000 Every additional $250,000,000 thereafter (cumulated with the applicable immediately preceding milestone) $ 3,500,000 Each milestone above is a separate milestone for which Executive may earn the full amount of the applicable Equity Award Executive will be entitled to earn the applicable Equity Award for each milestone only once. The Company’s market capitalization for each applicable milestone and measurement period will be determined based on the market capitalization reported by Bloomberg LP. SCHEDULE “3” Outside Activities Executive’s Outside Activities as of the date hereof include:
Market Capitalization Milestones. If the Company’s common stock is publicly traded during the Term and the market capitalization of the Company is for 20 consecutive trading days during the Term at or above the following milestones, the Executive shall receive, within five business days following such 20th consecutive trading day, an award of shares of Company common stock (a) which shall vest upon the later of February 15, 2019 and the end of the applicable three-month period following the applicable date of the grant, and (b) that, upon the date of the grant, shall have an aggregate value equal the percentage of the market capitalization set forth next to the applicable milestone* below based on the closing price of the common stock on the Principal Market on the date of the grant (the “Fair Market Value”): Company Market Capitalization Milestone Percentage $100,000,000 3% $150,000,000 3% $200,000,000 4% $250,000,000 4% $300,000,000 5% $350,000,000 5% $400,000,000 7% $450,000,000 7% $500,000,000 9% every additional $100,000,000 thereafter (cumulated with the applicable immediately preceding milestone) 10% Each milestone above is a separate milestone for which the Executive may earn the applicable percentage. The Executive will be entitled to earn the applicable percentage for each milestone only once. The Company’s market capitalization for each applicable milestone and measurement period will be determined based on the market capitalization reported by Bloomberg LP. * For example: If the Company’s market capitalization is at least $250,000,000 as of market close for at least 20 consecutive trading days and the Fair Market Value is $12.50 per share, Executive shall receive 800,000 fully vested shares of common stock of the Company (800,000 *$12.50 = $10,000,000 which is 4% of $250,000,000). The terms of any award under this Schedule 1 shall be more fully set forth in an Award Agreement. It is expressly acknowledged and agreed that this Schedule 1 is a summary of certain contemplated terms of the applicable Award Agreement, which shall be subject to the Company’s receipt of all corporate approvals required by applicable law or the rules and regulations of the Principal Market prior to effectiveness thereof. To the extent that there is any conflict between the terms of this Schedule 1 and the applicable Award Agreement, the terms of the Award Agreement shall govern.
Market Capitalization Milestones. (i) Subject to Executive’s continued employment, upon (or as soon as administratively practicable following) the Board’s (or a duly-authorized committee’s) determination that the Market Capitalization (as defined below) of the Company has, for the first time, exceeded One Hundred Twenty-Five Million Dollars ($125,000,000) for a period of thirty (30) consecutive trading days during the Term and the average trading volume of the Company’s
Market Capitalization Milestones. If the Fair Market Value of the Company’s common stock reaches $1.50 or more for 20 consecutive trading days during the Term (a “Lookback Period”), the Employee shall receive, within five business days following such 20th consecutive trading day, an award of shares of common stock having an aggregate Fair Market Value (based on the average of the Fair Market Values during the Lookback Period) equal to .10% (1/10th of a percent) of the difference between the Total Market Value on the date of this Agreement and the Total Market Value as of such 20th consecutive trading day. As used in this Agreement, “
