PROFITABILITY TARGET Sample Clauses

PROFITABILITY TARGET. Two Hundred Ten Thousand (210,000) shares (the "Profitability Shares") shall be forfeited by Employee if, once the Company achieves Positive Income Status, the Company does not, within three fiscal years thereafter, achieve net (after tax) income from ordinary operations (excluding extraordinary income or loss arising from the Restructuring, as determined by the Company's regular outside accountants) of at least $250,000, as reflected on the Company's audited year end profit and loss statement. If the Company achieves net income of at least $250,000 within such three year period (not including the Positive Income Year), the Profitability Shares shall no longer be subject to forfeiture, even if a subsequent profit and loss statement within that three year period reflects decreases in net income or net losses. If the Company fails to achieve at least $250,000 of net income following the Positive Income Year, then Employee shall re-assign the Profitability Shares to the Company on the first day of the calendar month following the issuance of the Company's audited financial statements for the year then ended.
Sample 1
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Related to PROFITABILITY TARGET

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