Schedule of Company Performance Goals. Grantee shall be eligible for the issuance of Restricted Shares for each Company Performance Goal attained as follows: 750,000 The Company's Market Capitalization exceeds $15,000,000. Market Capitalization shall mean the total number of shares of issued and outstanding common stock, multiplied by the average closing trade price of the Company's common stock on any 15 of the 20 trading days immediately prior to the date of determination.
1, 125,000 The Company’s consolidated gross revenue, calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $2,500,000 for the trailing twelve-month period as reported in the Company’s quarterly or annual financial statements. 1,875,000 The Company’s consolidated net profit, calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $500,000 for the trailing twelve-month period as reported in the Company’s quarterly or annual financial statements.
Schedule of Company Performance Goals. Shares of Restricted Stock shall become eligible for vesting (the “Eligible Restricted Shares”) for each Company Performance Goal attained as follows: 50 % The Company’s consolidated gross revenue, calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $15,000,000 for the trailing twelve-month period as reported in the Company’s quarterly or annual financial statements filed with the U.S. Securities and Exchange Commission (“SEC Reports”) 50 % The Company’s consolidated operating profit (Operating Profit = Operating Revenue - Cost of Goods Sold - Operating Expenses - Depreciation & Amortization), calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $1,500,000 for the trailing twelve-month period as reported in the Company’s SEC Reports.
Schedule of Company Performance Goals. Grantee shall be eligible for the issuance of Restricted Shares for each Company Performance Goal attained as follows: [40%] The Company's Market Capitalization exceeds $15,000,000. Market Capitalization shall mean the total number of shares of issued and outstanding common stock, multiplied by the average closing trade price of the Company's common stock on the 10 trading days immediately prior to the date of determination. [60%] The Company's Market Capitalization exceeds $20,000,000. Market Capitalization shall mean the total number of shares of issued and outstanding common stock, multiplied by the average closing trade price of the Company's common stock on the 10 trading days immediately prior to the date of determination.
Schedule of Company Performance Goals. Shares of Restricted Stock shall become eligible for vesting (and shall become “Eligible Restricted Shares”) for each Company Performance Goal attained as follows:
Schedule of Company Performance Goals. Grantee shall be eligible for the issuance of Restricted Shares for each Company Performance Goal attained as follows:
Schedule of Company Performance Goals. Grantee shall be eligible for the issuance of Restricted Shares for each Company Performance Goal attained as follows: [40%] The Company’s consolidated gross revenue, calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $2,500,000 for the trailing twelve-month period as reported in the Company’s quarterly or annual financial statements [60%] The Company’s consolidated net profit, calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $500,000 for the trailing twelve-month period as reported in the Company’s quarterly or annual financial statements.
Schedule of Company Performance Goals. (a) Subject to Section 2.1(b), shares of Restricted Stock shall become eligible for vesting (the “Eligible Restricted Shares”) for each Company Performance Goal attained as follows: 50 % (of unvested Shares, if this is the first Company Performance Goal that is achieved, or all remaining unvested Shares, if this is the second Company Performance Goal that is achieved) The Company’s consolidated gross revenue, calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $15,000,000 for the trailing twelve-month period as reported in the Company’s quarterly or annual financial statements filed with the U.S. Securities and Exchange Commission (“SEC Reports”) 50 % (of unvested Shares, if this is the first Company Performance Goal that is achieved, or all remaining unvested Shares, if this is the second Company Performance Goal that is achieved) The Company’s consolidated operating profit (Operating Profit = Operating Revenue - Cost of Goods Sold - Operating Expenses - Depreciation & Amortization), calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $1,500,000 for the trailing twelve-month period as reported in the Company’s SEC Reports.
(b) The Grantee may, by providing written notice to the Company at any time prior to the earlier to occur of (i) the occurrence of any of the Company Performance Goals set forth under Section 2.1 or (ii) the two year anniversary of the Effective Date, elect to participate in the alternate vesting schedule set forth in this subsection (b) (the “Alternate Vesting Schedule”). Under the Alternate Vesting Schedule, commencing two years following the Effective Date, on the first day of each calendar month, an aggregate dollar amount of Restricted Stock (under all Restricted Stock Award Agreements then in effect) equal to an aggregate of 5% of the total dollar amount of the Company’s common stock that traded during the prior calendar month, will vest, divided equally among all Restricted Stock Award Agreements that have duly elected to participate in such Alternate Vesting Schedule, valued based on the Fair Market Value under the respective Restricted Stock Award Agreements. For the avoidance of doubt, upon the occurrence of a Company Performance Goal, the Grantee’s right to participate in the Alternate Vesting Schedule will terminate, and the vesting of Grantee’s remaining unvested Shares will be as set forth under Section 2...
Schedule of Company Performance Goals. Grantee shall be eligible for the issuance of Restricted Shares for each Company Performance Goal attained as follows: -------------------------- ----------------------------------------------------- RESTRICTED SHARES COMPANY PERFORMANCE GOALS -------------------------- ----------------------------------------------------- 4,000,000 The Company's Market Capitalization exceeds $10,000,000. Market Capitalization shall mean the total number of shares of issued and outstanding common stock, multiplied by the closing trade price of the Company's stock on the date of determination. -------------------------- -----------------------------------------------------
-1- 6,000,000 The Company's consolidated gross revenue, calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $10,000,000 for the trailing twelve-month period. -------------------------- ----------------------------------------------------- 10,000,000 The Company's consolidated net profit, calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $2,000,000 for the trailing twelve-month period. -------------------------- -----------------------------------------------------
Schedule of Company Performance Goals. Grantee shall be eligible for the issuance of Restricted Shares for each Company Performance Goal attained as follows: ----------------------------- -------------------------------------------------- RESTRICTED SHARES COMPANY PERFORMANCE GOALS ----------------------------- -------------------------------------------------- x The Company's aggregate net income from operations, for the trailing 4 quarters, as reported in the Company's quarterly or annual financial statements, equals or exceeds $2,000,000. For further clarification, net income shall the defined as the Gross Profit minus Total Operating Expenses, as reported on the company's financial statements. ----------------------------- -------------------------------------------------- x The Company's aggregate net income from operations, for the trailing 4 quarters, as reported in the Company's quarterly or annual financial statements, equals or exceeds $3,000,000. For further clarification, net income shall the defined as the Gross Profit minus Total Operating Expenses, as reported on the company's financial statements. ----------------------------- --------------------------------------------------
-1- x The Company's aggregate net income from operations, for the trailing 4 quarters, as reported in the Company's quarterly or annual financial statements, equals or exceeds $4,000,000. For further clarification, net income shall the defined as the Gross Profit minus Total Operating Expenses, as reported on the company's financial statements. ----------------------------- --------------------------------------------------
Schedule of Company Performance Goals. Grantee shall be eligible for the issuance of Restricted Shares for each Company Performance Goal attained as follows: 38,462 The Company’s aggregate net income from operations, for the trailing 4 quarters, as reported in the Company’s quarterly or annual financial statements, equals or exceeds $2,000,000. For further clarification, net income shall the defined as the Gross Profit minus Total Operating Expenses, as reported on the company’s financial statements. 38,462 The Company’s aggregate net income from operations, for the trailing 4 quarters, as reported in the Company’s quarterly or annual financial statements, equals or exceeds $3,000,000. For further clarification, net income shall the defined as the Gross Profit minus Total Operating Expenses, as reported on the company’s financial statements.
