Common use of Schedule of Vesting Clause in Contracts

Schedule of Vesting. Grantee shall be entitled to the vesting and issuance of Restricted Shares as follows: 62,500 Restricted Shares per quarter, or pro rata amount thereof for partial quarters, over a 36 month period commencing to accrue on January 1, 2017, issuable quarterly on the last day of each calendar quarter; provided, that the first issue will be of 62,500 Restricted Shares and is scheduled to occur on March 31, 2017, and the last issue will be of 62,500 Restricted Shares and is scheduled to occur on December 31, 2019; and provided further, that Grantee is, at the time of the scheduled issue, serving as a director, officer, employee or key consultant of the Company. Furthermore, the Restricted Shares shall include an additional 750,000 Shares which will only vest and be issued with the specific approval of the Company’s Board of Directors by duly adopted resolutions, or upon the achievement of certain performance milestones to be established by resolutions duly adopted by the Company’s Board of Directors.

Schedule of Vesting. Grantee shall be entitled to the vesting and issuance of Restricted Shares as follows: 62,500 Restricted Shares per quarter, or pro rata amount thereof for partial quarters, over a 36 month period commencing to accrue on January 1September 30, 20172018, issuable quarterly on the last day of each calendar quarter; provided, that the first issue will be of 62,500 Restricted Shares and is scheduled to occur on March December 31, 20172018, and the last issue will be of 62,500 Restricted Shares and is scheduled to occur on December 31September 30, 20192021; and provided further, that Grantee is, at the time of the scheduled issue, serving as a director, officer, employee or key consultant of the Company. Furthermore, the Restricted Shares shall include an additional 750,000 Shares which will only vest and be issued with the specific approval of the Company’s Board of Directors by duly adopted resolutions, or upon the achievement of certain performance milestones to be established by resolutions duly adopted by the Company’s Board of Directors.

Schedule of Vesting. Grantee shall be entitled to eligible for the vesting and issuance release from escrow of Restricted Shares as follows: 62,500 Restricted Shares per quarter, or pro rata amount thereof for partial quarters, over a 36 month period commencing to accrue on January 1September 30, 20172018, issuable for release quarterly on the last day of each calendar quarter; provided, that the first issue will be of 62,500 Restricted Shares and is scheduled to occur on March 31, 2017, and the last issue release will be of 62,500 Restricted Shares and is scheduled to occur on December 31, 20192018, and the last release will be of 62,500 Restricted Shares and is scheduled to occur on September 30, 2021; and provided further, that Grantee is, at the time of the scheduled issuerelease, serving as a director, officer, employee or key consultant of the Company. Furthermore, the Restricted Shares shall include an additional 750,000 Shares which will be held in escrow and only vest and be issued released with the specific approval of the Company’s Board of Directors by duly adopted resolutions, or upon the achievement of certain performance milestones to be established by resolutions duly adopted by the Company’s Board of Directors.