Common use of Stock and Stock Options Clause in Contracts

Stock and Stock Options. 7.1 It is acknowledged that EXECUTIVE owns a number of shares of common stock in NUTEK OIL and further, that (a) NUTEK OIL shall register for public trading with the Securities and Exchange Commission at least ten percent (10%) of the shares owned by EXECUTIVE per year for each year of the contract beginning with the second year of the contract or the first offering of securities, whichever shall occur first. (b) In the event a voluntary termination by EXECUTIVE and NUTEK OIL, NUTEK OIL shall register the balance of the stock owned by EXECUTIVE pro- rata over five (5) years following such termination in the event such stock is not sooner sold. (c) In the event of involuntary termination or an offer is made by a single purchaser or group of purchasers and accepted by NUTEK OIL for 51% or more of the outstanding common stock of NUTEK OIL, all remaining shares of stock owned by EXECUTIVE shall be registered for public trading immediately. 7.2 EXECUTIVE is entitled to receive stock distributions of fully paid and non-assessable common stock of NUTEK OIL, in addition to any other stock options EXECUTIVE may be entitled to, as described in Exhibit A to this Agreement, entitled "Executive Stock Option Agreement".

Stock and Stock Options. 7.1 It is acknowledged that EXECUTIVE owns a number of shares of common stock in NUTEK OIL XXXXXXX ENERGY and further, that (a) NUTEK OIL XXXXXXX ENERGY shall register for public trading with the Securities and Exchange Commission at least ten percent (10%) of the shares owned by EXECUTIVE per year for each year of the contract beginning with the second year of the contract or the first offering of securities, whichever shall occur first. (b) In the event a voluntary termination by EXECUTIVE and NUTEK OILXXXXXXX ENERGY, NUTEK OIL XXXXXXX ENERGY shall register the balance of the stock owned by EXECUTIVE pro- rata over five (5) years following such termination in the event such stock is not sooner sold. (c) In the event of involuntary termination or an offer is made by a single purchaser or group of purchasers and accepted by NUTEK OIL XXXXXXX ENERGY for 51% or more of the outstanding common stock of NUTEK OILXXXXXXX ENERGY, all remaining shares of stock owned by EXECUTIVE shall be registered for public trading immediately. 7.2 EXECUTIVE is entitled to receive stock distributions of fully paid and non-assessable common stock of NUTEK OILXXXXXXX ENERGY, in addition to any other stock options EXECUTIVE may be entitled to, as described in Exhibit A to this Agreement, entitled "Executive Stock Option Agreement".

Stock and Stock Options. 7.1 6.1 It is acknowledged that EXECUTIVE owns a number of shares of common stock in NUTEK OIL and further, that (a) NUTEK OIL shall register for public trading with the Securities and Exchange Commission at least ten percent (10%) of the shares owned by EXECUTIVE per year for each year of the contract beginning with the second year of the contract or the first offering of securities, whichever shall occur first. (b) In the event a voluntary termination by EXECUTIVE and NUTEK OIL, NUTEK OIL shall register the balance of the stock owned by EXECUTIVE pro- rata over five (5) years following such termination in the event such stock is not sooner sold. (c) In the event of involuntary termination or an offer is made by a single purchaser or group of purchasers and accepted by NUTEK OIL for 51% or more of the outstanding common stock of NUTEK OIL, all remaining shares of stock owned by EXECUTIVE shall be registered for public trading immediately. 7.2 6.2 EXECUTIVE is entitled to receive stock distributions of fully paid and non-assessable common stock of NUTEK OIL, in addition to any other stock options EXECUTIVE may be entitled to, as described in Exhibit A to this Agreement, entitled "Executive Stock Option Agreement".

Stock and Stock Options. 7.1 It is acknowledged that EXECUTIVE owns a number of shares of common stock in NUTEK OIL GREENSTART and further, that (a) NUTEK OIL GREENSTART shall register for public trading with the Securities and Exchange Commission at least ten percent (10%) of the shares owned by EXECUTIVE per year for each year of the contract beginning with the second year of the contract or the first offering of securities, whichever shall occur first. (b) In the event a voluntary termination by EXECUTIVE and NUTEK OILGREENSTART, NUTEK OIL GREENSTART shall register the balance of the stock owned by EXECUTIVE pro- pro-rata over five (5) years following such termination in the event such stock is not sooner sold. (c) In the event of involuntary termination or an offer is made by a single purchaser or group of purchasers and accepted by NUTEK OIL GREENSTART for 51% or more of the outstanding common stock of NUTEK OILGREENSTART, all remaining shares of stock owned by EXECUTIVE shall be registered for public trading immediately. 7.2 EXECUTIVE is entitled to receive stock distributions of fully paid and non-assessable common stock of NUTEK OILGREENSTART, in addition to any other stock options EXECUTIVE may be entitled to, as described in Exhibit A to this Agreement, entitled the "Executive Stock Option Agreement".