Performance Warrants. During the Term hereof, the Company shall grant to Employee options to purchase shares of the Company's Common Stock upon the following occurrences and terms:
Performance Warrants. Concurrently with the execution of the Agreement, Supplier issued to Bank of America a warrant to purchase shares of Common Stock of Supplier and Supplier and Bank of America entered into a letter agreement relating to such warrant.
Performance Warrants. At such time as the Company has received a cumulative total of $2,500,000 from the Purchaser for the purchase of the Put Shares, the Company shall issue to the Purchaser the Performance Warrants to purchase certain shares of Common Stock. The Performance Warrants shall entitle Purchaser to purchase Common Stock of the Company in an amount equal to $250,000 divided by the average of the closing bid prices for the five Trading Days immediately preceding the Settlement Date for the last payment that brings the total of the purchases by Purchaser to $2,500,000 (the "Performance Date"). For example, by way of illustration, if the average closing bid price of the Company's common stock for the five Trading Days immediately preceding the Performance Date is $0.17 per share, the Performance Warrants shall entitle Purchaser to purchase 1,470,588 shares of Common Stock at $0.17 per share ($250,000 divided by $0.17 = 1,470,588 shares). The Performance Warrants shall have a term from their initial date of issuance of five years. The exercise price of the Purchase Warrant shall be equal to the average of the closing bid prices of the Common Stock on the Principal Market during the five Trading Days immediately prior to the Performance Date. The Common Stock underlying the Performance Warrants will be registered in the Registration Statement referred to in Section 4.3 hereof. The Performance Warrants shall be in the form of Exhibit F hereto. If the conditions precedent to the closing of any Put shall not be satisfied or waived within five days of the relevant Settlement Date, the Company may, within five days thereafter, rescind such Put.
Performance Warrants. In addition to the Initial Warrants being purchased in Section 1 above, GeneLink shall issue to Gene Elite or its designees, the following warrants (“Performance Warrants” and together with the Initial Warrants, the “Warrants”):
Performance Warrants. (i) Subject to applicable laws and any requirements of the Canadian Stock Exchange, and/or such other stock exchange(s) (the “Exchange”) on which the Company may elect to seek listing of the common shares in the capital of the Company (the “Common Shares”), and subject to the vesting conditions set out in section 2.1 of the performance warrant certificate attached hereto as Schedule “B”, the Company will issue to the Consultant 490,412 common share purchase warrants of the Company (the “Performance Warrants”). Each Performance Warrant will be exercisable for a period of 36 months from the date of issuance to acquire one Common Share at an exercise price of $0.30 per share.
Performance Warrants. The Company will grant or cause to grant " performance warrants (each a “Performance Warrants”) to the Executive whereby each Performance Warrant will entitle the holder to purchase one additional common share of the Parent Company at a price of US$" per share for a period of " years from the granting date. Upon granting, the " performance warrants will be pooled in an escrow account and will be released from such escrow account according to the following milestones: (i) the first 1/3 of the Performance Warrants will be released from escrow on the day that is 4 months from the listing date of the Parent Company’s common shares on the Exchange; (ii) the second 1/3 of the Performance Warrants will be released from escrow on the day that the 8 grow rooms in the Company’s facilities are completed; and (iii) the remaining 1/3 of the Performance Warrants will be released from escrow on the day that the Company issues its financial statements showing that the Company, when results are combined with Cowlitz County Cannabis Cultivation, has generated US$3,500,000 pre-tax EBITDA (equivalent to the earnings before interest, tax, depreciation and amortization). Should this Agreement be terminated by either Party pursuant to paragraphs 4.2, 4.3 or 4.5, or pursuant to a change of control situation under paragraph 4.7 and 4.8 hereinafter, such Performance Warrants that have not been released from the escrow account will be released immediately.
Performance Warrants. In addition to the Cash Bonuses, on the Closing Date, the Holder shall be issued 6,250,000 additional warrants in form and content substantially identical to the Warrants included in the Purchase Price (the “Performance Warrants”). Such Performance Warrants shall be exercisable by the Holder at the Exercise Price only in the event that the Target EBITDA Goals set forth in Section 1(b)(ii), (iii) and (iv) are exceeded in the applicable Vesting Period and will be allocated as follows:
Performance Warrants. S-A acknowledges that Concurrent's decision to -------------------- file the Shelf Registration Statement should not be construed as an agreement to file a registration statement covering shares of Common Stock issuable upon exercise of any "performance warrant" issued to S-A in the future (such warrants are referred to in Section 9.2 of the Agreement and a form of such warrant is included as Exhibit D to the Agreement) on a delayed or continuous basis --------- pursuant to Rule 415 under the Securities Act. Each performance warrant granted to S-A will be governed by the terms of such warrant.
Performance Warrants. Upon each Lapse Event: --------------------
Performance Warrants. RSI agrees to grant unto KING fully-vested Warrants to purchase up to an additional 250,000 shares of RSI's common stock, $0.01 par value per share at the exercise price of $0.70 per share (Performance Warrants) at the rate of 1000 Performance Warrants for each $1000 in Product purchased from RSI and paid for by KING following the effective date of this Agreement through December 31, 2001. All Performance Warrants shall be issued within ten (10) days of the end of such period. Once any such Warrant is issued, it shall not be subject to cancellation for any reason whatsoever. All Performance Warrants shall be identical in form and substance to the Warrant, attached hereto as Exhibit "A" with the exception of the number of shares, the date of issue and the date of vesting. The total number of Performance Warrants granted hereunder shall equal the dollar amount of the purchase price for Product received by RSI from KING up to a maximum of $250,000. For example, if the purchase price for Product received by RSI from KING for the period ending December 31, 2001 is $230,000 the Performance Warrant to purchase 230,000 shares of common stock would be granted, issued and delivered to KING. The remaining number of shares for which Performance Warrants are not granted (in this example 20,000) (unearned Performance Warrants) shall expire without vesting and no longer be available hereunder. If the purchase price for Product received by RSI from KING for the period ending December 31, 2001 is $280,000 the Performance Warrant to purchase 250,000 shares of common stock would be granted, issued and delivered to KING. The amount by which the purchase price for Product received by RSI from KING for the period ending December 31, 2001 exceeds $250,000 (in this example 50,000) shall not entitle KING to any Performance Warrants or any other compensation whatsoever. The foregoing grant of Performance Warrants is independent of and in addition to the Consideration Warrant grant contained herein. If KING meets or exceeds the purchase requirement of $250,000 in Products on or before December 31, 2001, the total number of shares for which Warrants shall be granted pursuant to this paragraph 3.1B will be 1,000,000 shares. (750,000 Consideration Warrants plus 250,000 Performance Warrants)
