Share Bonus. (a) The Executive shall be entitled to a bonus consisting of 400,000 common shares of the Corporation (the "Bonus Shares"). 50,000 of the Bonus Shares shall be issued to the Executive on the date of execution of this agreement and on the date of each of the six month, 12-month and 18-month anniversaries of this agreement. 200,000 of the Bonus Shares shall be issued to the Executive on the date of the 24-month anniversary of this agreement (the "Final Issuance"). Bonus Shares shall only be issued on a particular date if this agreement has not been terminated prior to that date. The Corporation shall hold all Bonus Shares in escrow until the date of the Final Issuance. On such date, all Bonus Shares shall be released from escrow to the Executive. If this agreement is terminated for cause or as a result of the resignation of the Executive prior to the date of the Final Issuance, the Corporation shall cancel all Bonus Shares. If this agreement is terminated for any other reason prior to the Final Issuance, the Executive shall be entitled immediately to a release from escrow of all Bonus Shares issued prior to the date of termination. If the company is not publicly trading within 180 days of the execution of this agreement, the Employee will have 10% equity of the Corporation, and all rights of the shareholders agreement shall come in effect.
(b) The Executive shall be entitled to purchase up to 400,000 shares at an exercise price of $1.00 Canadian, once the company becomes publicly traded. The option to purchase the share is at the sole discretion of the executive. If this agreement is terminated for any other reason prior to the Executive exercising his option, the Executive shall be entitled to exercise the option for a period of one year after the date of termination. In the event that the Corporation completes an initial public offering or other going public transaction, the Executive agrees to pool or escrow some or all of the Bonus Shares as may be required by underwriters or agents retained by the Corporation or by applicable securities regulation.
Share Bonus. The Executive shall be entitled to a bonus consisting of 2,000 common shares of the Universe2U Inc. (the "Bonus Shares"). The Corporation shall hold all Bonus Shares in escrow until the date of the
Share Bonus. The Executive is entitled to a share bonus of 150,000 common shares of the Company (the “Bonus Shares”) upon the commencement of commercial production on the Xxxxxxx Mountain mining project. In the event the Company conducts or participates in a transaction, reorganization, or capital change (each a “Transaction”) affecting the shareholders of the Company or the common shares of the Company, the Executive shall instead be entitled to receive any securities or consideration resulting from such Transaction as if the Executive were the holder of record of the Bonus Shares on the record date and/or the closing date of such Transaction provided that such securities or consideration shall be issued or paid to the Executive only if the Executive would otherwise be entitled to receive Bonus Shares pursuant to this Section 3.3. In the event of a Change of Control transaction where the holders of the common shares of the Company are entitled to receive any securities or other consideration pursuant to such Change of Control transaction and the Executive will be entitled to receive such securities or other consideration in lieu of the Bonus Shares as if the Executive were the holder of record of the Bonus Shares on the record date and/or the closing date of such Change of Control transaction. The Company agrees to include in any agreement entered into by the Company in connection with a Change of Control transaction or a Transaction a provision requiring any third party to comply with this Agreement, including the adjustment provisions herein. This Section 3.3 shall apply to successive Transactions. The obligation to issue the Bonus Shares, and any securities or consideration in lieu thereof due to one or more Transactions, pursuant to this section shall survive the termination of this Agreement for a period of twelve (12) months from the termination date if the Bonus Shares would have been payable in those twelve (12) months other than for the fact this Agreement was terminated.
Share Bonus. Executive shall be granted 10 million common shares upon the first renewal of this 12 month contract.
Share Bonus. If Xx. Xxxxxxxxx furnishes the Transition Services through the Termination Date in a manner a reasonable person in WMTC’s position would want, the Company will issue to her as a bonus 70,000 fully vested shares of common stock at no cash consideration (the “Bonus Shares”). The Bonus Shares will be issued on or about the Termination Date under the stock issuance program of the Plan as an incentive for Xx. Xxxxxxxxx’x cooperation during the transition to the new chief financial officer.
Share Bonus. If the Company sells, leases or otherwise liquidates the Helicopter for a cash value in excess of two million five hundred thousand dollars ($2,500,000) then the Company will give to Investor one (1) share of the Company's restricted common stock (SEC Rule 144) for each dollar ($1.00) of cash value in excess of two million five hundred thousand dollars ($2,500,000) that the Company receives for the Helicopter.
Share Bonus. If the holding company is publicly trading and if the corporation employs the Executive two years after the execution of this agreement, the Executive shall be entitled to purchase up to 300,000 shares of the holding company at an exercise price of $1.00
Share Bonus. The Company will issue 100,000 shares, which will be earned and delivered at the rate of 25,000 per quarter.
Share Bonus. The Executive has the right to re-negotiate this contract when the stock option plan is introduced for the senior executive.
Share Bonus. Upon the Commencement of Exploration (as defined below) on the Properties, the consultant shall be issued a total of 66,666 shares of the Company’s common stock (the “Bonus Shares”) at a price of $0.01 per share as consideration for his services hereunder.
