{"component": "clause", "props": {"groups": [{"snippet": "In connection with the execution, delivery and performance of this Agreement, the Company shall on July 1, 2000 grant to Damoose stock in the Company representing an amount equal to one-half percent (1/2%) of the shares of the Company's common stock that are issued and outstanding as of the close of business on the date preceding the Commencement Date; determined on a fully diluted basis inclusive of shares reserved for issuance upon (a) the complete exercise of all then outstanding option, warrant or rights grants (inclusive of the shares to be made the subject of Damoose's option grant herein described) and employee stock incentive plans, (b) the conversion of then outstanding preferred shares or convertible debt instruments into shares of the Company's common stock, or (c) the consummation of any then-authorized stock split or stock dividend provided that if at the time of such intended issuance the Company constitutes a subsidiary of another corporation or its corporate existence has been terminated as a result of its merger into or consolidation with another corporation, then Damoose shall receive certificate(s) representing an identical ownership interest in the ultimate parent of the Company or of the survivor of any such merger or consolidation, or, if no such parent shall then exist, then in the survivor of the merger or consolidation. The value of each such share as of the date of issuance or date of vesting, as applicable, shall be determined by the issuer's board of directors. The shares shall vest (i) as to 50% of the shares on July 1, 2000 and (ii) as to an additional 25% of the shares on each of July 1, 2001 and July 1, 2002, provided as to each such date that Damoose continues his service to the Company. Damoose shall receive from the Company one or more certificates, registered in his name, representing each installment of vested shares on the vesting date of such shares. In addition, the Company shall pay at the time of each such vesting a cash bonus to Damoose equal to an amount such that after the payment by Damoose of all federal, state and local income taxes, self-employment, taxes or other taxes (including any interest or penalties, arising from the actions or inactions of the Company, imposed with respect thereto) (\"INCOME TAXES\") imposed on the receipt of the stock being vested and on such bonus, Damoose retains an amount of the bonus equal to the Income Taxes imposed on him by the vesting of the stock and by the bonus payments.", "snippet_links": [{"key": "in-connection-with", "type": "clause", "offset": [0, 18]}, {"key": "the-execution", "type": "clause", "offset": [19, 32]}, {"key": "performance-of-this-agreement", "type": "clause", "offset": [47, 76]}, {"key": "the-company-shall", "type": "clause", "offset": [78, 95]}, {"key": "equal-to", "type": "definition", "offset": [173, 181]}, {"key": "shares-of-the-company", "type": "definition", "offset": [213, 234]}, {"key": "common-stock", "type": "clause", "offset": [237, 249]}, {"key": "issued-and-outstanding", "type": "clause", "offset": [259, 281]}, {"key": "close-of-business", "type": "clause", "offset": [292, 309]}, {"key": "the-commencement-date", "type": "clause", "offset": [332, 353]}, {"key": "fully-diluted-basis", "type": "definition", "offset": [371, 390]}, {"key": "inclusive-of", "type": "clause", "offset": [391, 403]}, {"key": "shares-reserved-for-issuance", "type": "clause", "offset": [404, 432]}, {"key": "exercise-of", "type": "clause", "offset": [455, 466]}, {"key": "outstanding-option", "type": "clause", "offset": [476, 494]}, {"key": "subject-of", "type": "clause", "offset": [561, 571]}, {"key": "option-grant", "type": "clause", "offset": [582, 594]}, {"key": "employee-stock-incentive-plans", "type": "definition", "offset": [617, 647]}, {"key": "conversion-of", "type": "clause", "offset": [657, 670]}, {"key": "outstanding-preferred-shares", "type": "definition", "offset": [676, 704]}, {"key": "convertible-debt-instruments", "type": "definition", "offset": [708, 736]}, {"key": "consummation-of", "type": "clause", "offset": [791, 806]}, {"key": "stock-split", "type": "definition", "offset": [827, 838]}, {"key": "stock-dividend", "type": "clause", "offset": [842, 856]}, {"key": "provided-that", "type": "clause", "offset": [857, 870]}, {"key": "at-the-time", "type": "clause", "offset": [874, 885]}, {"key": "subsidiary-of", "type": "definition", "offset": [938, 951]}, {"key": "corporate-existence", "type": "clause", "offset": [979, 998]}, {"key": "ownership-interest", "type": "definition", "offset": [1161, 1179]}, {"key": "parent-of-the-company", "type": "definition", "offset": [1196, 1217]}, {"key": "merger-or-consolidation", "type": "definition", "offset": [1249, 1272]}, {"key": "the-merger", "type": "clause", "offset": [1338, 1348]}, {"key": "the-value", "type": "clause", "offset": [1367, 1376]}, {"key": "date-of-issuance", "type": "definition", "offset": [1406, 1422]}, {"key": "date-of-vesting", "type": "clause", "offset": [1426, 1441]}, {"key": "by-the-issuer", "type": "clause", "offset": [1478, 1491]}, {"key": "board-of-directors", "type": "definition", "offset": [1494, 1512]}, {"key": "an-additional", "type": "clause", "offset": [1595, 1608]}, {"key": "service-to-the-company", "type": "clause", "offset": [1726, 1748]}, {"key": "from-the-company", "type": "clause", "offset": [1772, 1788]}, {"key": "vested-shares", "type": "definition", "offset": [1872, 1885]}, {"key": "vesting-date", "type": "definition", "offset": [1893, 1905]}, {"key": "in-addition", "type": "clause", "offset": [1922, 1933]}, {"key": "cash-bonus", "type": "definition", "offset": [1992, 2002]}, {"key": "payment-by", "type": "clause", "offset": [2053, 2063]}, {"key": "state-and-local-income-taxes", "type": "clause", "offset": [2088, 2116]}, {"key": "taxes-or-other-taxes", "type": "clause", "offset": [2135, 2155]}, {"key": "actions-or-inactions", "type": "clause", "offset": [2211, 2231]}, {"key": "receipt-of", "type": "clause", "offset": [2310, 2320]}, {"key": "the-stock", "type": "clause", "offset": [2321, 2330]}, {"key": "the-bonus", "type": "definition", "offset": [2392, 2401]}, {"key": "vesting-of", "type": "clause", "offset": [2450, 2460]}, {"key": "bonus-payments", "type": "definition", "offset": [2482, 2496]}], "size": 5, "samples": [{"hash": "epL6exAgrAW", "uri": "/contracts/epL6exAgrAW#stock-bonus", "label": "Stock Agreement (Amerivision Communications Inc)", "score": 16.0, "published": true}], "hash": "bac6f220aa4f1c5aaf786d99afac37e1", "id": 5}, {"snippet": "\u2587\u2587\u2587\u2587\u2587 \u2587. \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587. shall receive a stock bonus, if any, within the sole discretion of the Board of Directors of the Company. Such stock bonus shall be implemented within a reasonable period of time after the Board of Directors in its discretion awards such stock bonus.", "snippet_links": [{"key": "a-stock", "type": "definition", "offset": [35, 42]}, {"key": "board-of-directors-of-the-company", "type": "clause", "offset": [92, 125]}, {"key": "reasonable-period-of-time", "type": "clause", "offset": [174, 199]}, {"key": "in-its-discretion", "type": "clause", "offset": [229, 246]}], "size": 8, "samples": [{"hash": "jYbYfuqQXYt", "uri": "/contracts/jYbYfuqQXYt#stock-bonus", "label": "Employment Agreement (Colorsmart Com Inc)", "score": 16.0, "published": true}, {"hash": "1euWgXJtoOE", "uri": "/contracts/1euWgXJtoOE#stock-bonus", "label": "Employment Agreement (Colorsmart Com Inc)", "score": 16.0, "published": true}], "hash": "0f35e8ae2157b0e359127a09129528ac", "id": 2}, {"snippet": "For each fiscal year of Company in which the net profits of Company exceed Two Hundred Fifty Thousand ($250,000) Dollars or the net profits of Company for that fiscal year exceed the net profits of Company for the previous fiscal year by Fifteen (15%) percent, whichever is less the Company agrees to transfer to Executive each year during the term of Executive Employment, within one (1) month after the close of each fiscal year during all of which the Executive served as Vice President of the Company, the number of shares of Company's stock equal in value to Seventy-Five Thousand ($75,000) Dollars. For the purpose of determining the number of shares to be transferred to Executive, the shares shall be valued, as of the close of each fiscal year, under one of the following formulas:\n(i) if the Company is not publicly traded then the value of each share shall be equal to One ($1.00) Dollar; or\n(ii) if the Company is publicly traded then the value of each share shall be computed upon an average of the previous ten (10) day closing bid price.", "snippet_links": [{"key": "company-in", "type": "clause", "offset": [24, 34]}, {"key": "net-profits", "type": "definition", "offset": [45, 56]}, {"key": "previous-fiscal-year", "type": "definition", "offset": [214, 234]}, {"key": "to-executive", "type": "clause", "offset": [310, 322]}, {"key": "each-year", "type": "definition", "offset": [323, 332]}, {"key": "term-of-executive-employment", "type": "clause", "offset": [344, 372]}, {"key": "the-executive", "type": "clause", "offset": [451, 464]}, {"key": "president-of-the-company", "type": "clause", "offset": [480, 504]}, {"key": "shares-of-company", "type": "clause", "offset": [520, 537]}, {"key": "five-thousand", "type": "clause", "offset": [572, 585]}, {"key": "for-the-purpose-of", "type": "definition", "offset": [605, 623]}, {"key": "shares-to-be-transferred", "type": "clause", "offset": [650, 674]}, {"key": "the-shares", "type": "clause", "offset": [689, 699]}, {"key": "not-publicly-traded", "type": "clause", "offset": [813, 832]}, {"key": "the-value", "type": "clause", "offset": [838, 847]}, {"key": "equal-to", "type": "definition", "offset": [871, 879]}, {"key": "closing-bid-price", "type": "definition", "offset": [1034, 1051]}], "size": 16, "samples": [{"hash": "kAZlwr1NnNr", "uri": "/contracts/kAZlwr1NnNr#stock-bonus", "label": "Employment Agreement (Resourcing Solutions Group Inc)", "score": 18.0, "published": true}, {"hash": "jnVUk4F00AA", "uri": "/contracts/jnVUk4F00AA#stock-bonus", "label": "Employment Agreement (Resourcing Solutions Group Inc)", "score": 18.0, "published": true}, {"hash": "ewFUN76Hf6i", "uri": "/contracts/ewFUN76Hf6i#stock-bonus", "label": "Employment Agreement (Resourcing Solutions Group Inc)", "score": 18.0, "published": true}], "hash": "401b52b50ee478561ff1dd5e0e24dc53", "id": 1}, {"snippet": "If the Company achieves the Pro-forma Goals on or before the first anniversary of the Effective Date, the Company shall cause its parent company, Ocean Ventures Inc. (\"OCV\"), to issue to the Executive One Hundred Twelve Thousand Five Hundred (112,500) common shares in the capital of OCV (the \"Bonus Shares\"). The right to receive the Bonus Shares shall vest on the one-year anniversary of the Effective Date only if (a) the Executive is then still employed by the Company, and (b) the Company has then achieved the Pro-forma Goals. The Bonus Shares will be subject to such restrictions on resale as are required by law and the certificates evidencing them will bear the following legend: NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 ACT (THE \"1933 ACT\"), OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.", "snippet_links": [{"key": "first-anniversary", "type": "definition", "offset": [61, 78]}, {"key": "the-effective-date", "type": "clause", "offset": [82, 100]}, {"key": "the-company-shall", "type": "clause", "offset": [102, 119]}, {"key": "parent-company", "type": "definition", "offset": [130, 144]}, {"key": "to-the-executive", "type": "clause", "offset": [184, 200]}, {"key": "common-shares", "type": "clause", "offset": [252, 265]}, {"key": "the-capital", "type": "clause", "offset": [269, 280]}, {"key": "bonus-shares", "type": "definition", "offset": [294, 306]}, {"key": "right-to-receive", "type": "clause", "offset": [314, 330]}, {"key": "the-bonus", "type": "definition", "offset": [331, 340]}, {"key": "employed-by-the-company", "type": "definition", "offset": [449, 472]}, {"key": "the-company-has", "type": "definition", "offset": [482, 497]}, {"key": "subject-to", "type": "definition", "offset": [558, 568]}, {"key": "restrictions-on-resale", "type": "clause", "offset": [574, 596]}, {"key": "required-by-law", "type": "definition", "offset": [604, 619]}, {"key": "the-certificates", "type": "definition", "offset": [624, 640]}, {"key": "the-securities-represented-hereby", "type": "definition", "offset": [697, 730]}, {"key": "securities-act-of-1933", "type": "clause", "offset": [776, 798]}, {"key": "state-securities-laws", "type": "definition", "offset": [833, 854]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [911, 933]}, {"key": "in-the-united-states", "type": "clause", "offset": [935, 955]}, {"key": "pursuant-to", "type": "definition", "offset": [982, 993]}, {"key": "statement-under", "type": "clause", "offset": [1020, 1035]}, {"key": "exemption-from", "type": "clause", "offset": [1078, 1092]}, {"key": "requirements-of-the", "type": "clause", "offset": [1147, 1166]}, {"key": "each-case", "type": "definition", "offset": [1183, 1192]}, {"key": "in-accordance-with", "type": "definition", "offset": [1198, 1216]}, {"key": "applicable-state", "type": "definition", "offset": [1217, 1233]}, {"key": "in-addition", "type": "clause", "offset": [1251, 1262]}, {"key": "hedging-transactions", "type": "clause", "offset": [1264, 1284]}, {"key": "compliance-with-the-1933-act", "type": "clause", "offset": [1341, 1369]}], "size": 5, "samples": [{"hash": "DtkGhUwwmR", "uri": "/contracts/DtkGhUwwmR#stock-bonus", "label": "Share Purchase Agreement (Ocean Ventures Inc)", "score": 21.0, "published": true}, {"hash": "9aWt0ltKNuH", "uri": "/contracts/9aWt0ltKNuH#stock-bonus", "label": "Employment Agreement (Ocean Ventures Inc)", "score": 21.0, "published": true}, {"hash": "8SVua7Z1gbO", "uri": "/contracts/8SVua7Z1gbO#stock-bonus", "label": "Share Purchase Agreement (Barley Stephen)", "score": 21.0, "published": true}], "hash": "90896773fbc44968240c836a1c194342", "id": 3}, {"snippet": "Executive will be entitled to two million (2,000,000) shares of the Company's Common Stock at his completion of twelve (12) months of service under this contract. These shares shall be issued at the first opportunity after Executive has completed the first twelve (12) months of service as Corporate Controller when there are sufficient authorized shares to do so. These shares shall vest to the Executive at a rate of one twelfth per month starting as of July 1, 2000.", "snippet_links": [{"key": "shares-of-the-company", "type": "definition", "offset": [54, 75]}, {"key": "common-stock", "type": "clause", "offset": [78, 90]}, {"key": "completion-of", "type": "clause", "offset": [98, 111]}, {"key": "months-of-service", "type": "definition", "offset": [124, 141]}, {"key": "under-this-contract", "type": "clause", "offset": [142, 161]}, {"key": "first-opportunity", "type": "definition", "offset": [199, 216]}, {"key": "sufficient-authorized-shares", "type": "clause", "offset": [326, 354]}, {"key": "to-the-executive", "type": "clause", "offset": [389, 405]}, {"key": "rate-of", "type": "clause", "offset": [411, 418]}, {"key": "per-month", "type": "clause", "offset": [431, 440]}], "size": 5, "samples": [{"hash": "eGT3dhVNa9b", "uri": "/contracts/eGT3dhVNa9b#stock-bonus", "label": "Executive Employment Agreement (Platforms Wireless Internatonal Corp)", "score": 16.0, "published": true}], "hash": "7e8851418354d29db7ad2a5d46e8c412", "id": 4}, {"snippet": "Executive will participate in a stock option plan consistent with other C-level officers, once adopted by the Company, provided that Executive was employed by the Company as of the last day of the applicable calendar year. All rights to the issuance of shares under this Section 3.04 shall be determined by the Company\u2019s Auditors and subject to the approval of the Company\u2019s Board of Directors.\n(a) Executive shall be eligible to receive shares of the Company\u2019s common stock (\u201cCompany Shares\u201d) upon satisfaction of any of following milestones: (i) 100,000 Company Shares for each stock or asset acquisition that the Company consummates during the term of Executive\u2019s employment that increases the gross revenues of the Company by a minimum of $10,000,000, provided the Company\u2019s market capitalization reaching $350,000,000 for a period of at least 5 consecutive trading days (\u201cMarket Cap Threshold\u201d), or (ii) 500,000 Company Shares if an acquisition increases gross revenues of the Company by a minimum of $25,000,000, provided the Company satisfies the Market Cap Threshold. For the sake of clarity, the Market Cap Threshold may be satisfied before or after an acquisition milestone is satisfied under this Section 3.04 (a) (i) and (ii); (iii) in the alternative to Section 3.04 (i) and (ii), Executive shall be eligible to receive 500,000 Company Shares if the Company\u2019s annualized revenue growth increases by a minimum of $50,000,000; (b) Executive shall be eligible to receive a 200,000 Company Shares if the Company reaches positive cash flow (EBIDTA); and (c) Executive shall be eligible to receive (i) 250,000 Company Shares if the market capitalization of the Company exceeds $500,000,000 for a period of at least 5 consecutive trading days; and (ii) an additional 500,000 Common Shares if the market capitalization of the Company exceeds $1,000,000,000 for a period of at least 5 consecutive trading days; and (iii) an additional 1,000,000 Company Shares if the market capitalization of the Company exceeds $1,500,000,000 for a period of at least 5 consecutive trading days; and (iv) an additional 150,000 Company Shares for each additional $100,000,000 increase in market capitalization over $1,500,000,000, provided that such increase is sustained for a period of at least 5 consecutive trading days. Executive rights under this section 3.04 (c) are cumulative.", "snippet_links": [{"key": "participate-in", "type": "definition", "offset": [15, 29]}, {"key": "stock-option-plan", "type": "clause", "offset": [32, 49]}, {"key": "consistent-with", "type": "clause", "offset": [50, 65]}, {"key": "provided-that", "type": "clause", "offset": [119, 132]}, {"key": "employed-by-the-company", "type": "definition", "offset": [147, 170]}, {"key": "day-of", "type": "clause", "offset": [186, 192]}, {"key": "applicable-calendar-year", "type": "definition", "offset": [197, 221]}, {"key": "all-rights", "type": "clause", "offset": [223, 233]}, {"key": "issuance-of-shares", "type": "clause", "offset": [241, 259]}, {"key": "approval-of-the-company", "type": "clause", "offset": [349, 372]}, {"key": "board-of-directors", "type": "definition", "offset": [375, 393]}, {"key": "shares-of-the-company", "type": "definition", "offset": [438, 459]}, {"key": "common-stock", "type": "clause", "offset": [462, 474]}, {"key": "company-shares", "type": "definition", "offset": [477, 491]}, {"key": "satisfaction-of", "type": "clause", "offset": [499, 514]}, {"key": "asset-acquisition", "type": "definition", "offset": [589, 606]}, {"key": "term-of", "type": "clause", "offset": [647, 654]}, {"key": "gross-revenues", "type": "definition", "offset": [697, 711]}, {"key": "period-of", "type": "definition", "offset": [829, 838]}, {"key": "trading-days", "type": "definition", "offset": [862, 874]}, {"key": "market-cap-threshold", "type": "definition", "offset": [877, 897]}, {"key": "the-market", "type": "definition", "offset": [1050, 1060]}, {"key": "acquisition-milestone", "type": "definition", "offset": [1162, 1183]}, {"key": "revenue-growth", "type": "definition", "offset": [1384, 1398]}, {"key": "positive-cash-flow", "type": "definition", "offset": [1529, 1547]}, {"key": "market-capitalization-of-the-company", "type": "definition", "offset": [1639, 1675]}, {"key": "an-additional", "type": "clause", "offset": [1759, 1772]}, {"key": "common-shares", "type": "clause", "offset": [1781, 1794]}, {"key": "in-market", "type": "definition", "offset": [2172, 2181]}, {"key": "rights-under-this-section", "type": "clause", "offset": [2322, 2347]}], "size": 4, "samples": [{"hash": "f1ajpUc7EL6", "uri": "/contracts/f1ajpUc7EL6#stock-bonus", "label": "Employment Agreement (Cryptyde, Inc.)", "score": 33.3504449008, "published": true}, {"hash": "e7MQqWDH9tx", "uri": "/contracts/e7MQqWDH9tx#stock-bonus", "label": "Employment Agreement (Cryptyde, Inc.)", "score": 33.2080766598, "published": true}], "hash": "4761b85420d1605beec7d30c4bebacd9", "id": 6}, {"snippet": "In accordance with the Company\u2019s 2002 Equity Incentive Plan (\u201cPlan\u201d), upon execution of this Agreement, Employee will be granted a restricted stock bonus award of Thirty Thousand (30,000) shares of the Company\u2019s Common Stock (\u201cFirst Restricted Share Grant\u201d) and options to purchase Thirty Thousand (30,000) shares of Common Stock (\u201cFirst Stock Option Grant\u201d). One-seventh of the First Restricted Share Grant and one-fourth of the First Stock Option Grant will vest on each anniversary date of the Agreement thereafter over a seven-year and four-year period, respectively. On the second anniversary of this Agreement, Employee will be granted a second restricted stock bonus award of Thirty Thousand (30,000) shares of Common Stock (\u201cSecond Restricted Share Grant\u201d) and options to purchase Thirty Thousand (30,000) shares of Common Stock (\u201cSecond Stock Option Grant\u201d). One seventh of the Second Restricted Share Grant and one-fourth of the Second Stock Option Grant will vest on each subsequent anniversary date of the Agreement thereafter over a seven-year and four-year period, respectively. The First Restricted Share Grant and Second Restricted Share Grant are collectively referred to hereinafter as \u201cRestricted Shares\u201d, and the First Stock Option Grant and Second Stock Option Grant are collectively referred to hereinafter as \u201cStock Options\u201d. In order to enable Employee to satisfy the minimum withholding tax obligations with respect to the vesting of the Restricted Shares, the Company shall withhold from the Restricted Shares that vest each year a number of shares having a fair market value (as defined in the Plan) equal to the amount required to be withheld.\n(i) As the Company may not issue the Restricted Shares or Stock Options without prior approval of the Company\u2019s Shareholders, the pricing of the Stock Options and the issuance of the Restricted Shares and Stock Options will be deferred until shareholder approval is received. Prior to the expiration, termination or Change in Control of this agreement, if for any reason Shareholder approval is not received; the Employee shall nevertheless be entitled to the economic benefits, as reasonably determined by the Compensation Committee, of such Restricted Shares and Stock Options. The exercise price of the Stock Options included in the First Stock Option Grant will be the fair market value of the Company\u2019s Common Stock on the date of such Shareholder approval. The exercise price of the Stock Options included in the Second Stock Option Grant will be the fair market value of the Common Stock on the date of grant unless Shareholder approval shall not have been obtained by that date, in which case it will be the fair market value on the date of Shareholder approval. To the extent the fair market price of the Common Stock on the date of issuance is higher than that on the date of grant of the Stock Options, the Company will credit the amount of such excess to Employee upon, and to the extent of, Employee\u2019s exercise of such Stock Options. Employee understands and agrees that at the time of execution of this Agreement, the Restricted Shares and the Common Stock underlying the Stock Options are not registered under the Securities Act of 1933 and, therefore, such Restricted Shares and Stock Options cannot be publicly traded until such time as such shares are the subject of an effective registration statement.\n(ii) Should Employee\u2019s employment be terminated by the Company without \u201cCause\u201d or by Employee for \u201cGood Reason\u201d, or in the event of the death or disability of Employee, all of the unvested Restricted Shares and Stock Options shall be accelerated and become fully vested. In addition, if Employee voluntarily terminates his employment for other than \u201cGood Reason\u201d within eighteen (18) months of a change in Employee\u2019s direct reporting from \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587 to another Company officer, all of the unvested Restricted Shares and Stock Options, both granted and not yet granted, shall be accelerated and become fully vested. If, however, Employee is terminated for \u201cCause\u201d or employee voluntarily terminates his employment for any reason other than \u201cGood Reason\u201d or change in direct report from \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587, all remaining unvested Restricted Shares and Stock Options hereunder shall be forfeited.", "snippet_links": [{"key": "in-accordance-with", "type": "definition", "offset": [0, 18]}, {"key": "equity-incentive-plan", "type": "clause", "offset": [38, 59]}, {"key": "execution-of-this-agreement", "type": "clause", "offset": [75, 102]}, {"key": "employee-will", "type": "clause", "offset": [104, 117]}, {"key": "stock-bonus-award", "type": "definition", "offset": [142, 159]}, {"key": "shares-of-the-company", "type": "definition", "offset": [188, 209]}, {"key": "restricted-share-grant", "type": "clause", "offset": [233, 255]}, {"key": "options-to-purchase", "type": "clause", "offset": [262, 281]}, {"key": "shares-of-common-stock", "type": "clause", "offset": 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"offset": [3678, 3689]}, {"key": "a-change-in", "type": "definition", "offset": [3788, 3799]}, {"key": "direct-reporting", "type": "clause", "offset": [3811, 3827]}, {"key": "company-officer", "type": "clause", "offset": [3854, 3869]}], "size": 4, "samples": [{"hash": "coHj5WlTn7e", "uri": "/contracts/coHj5WlTn7e#stock-bonus", "label": "Employment Agreement (Impax Laboratories Inc)", "score": 21.0, "published": true}, {"hash": "3fTutzvLoCb", "uri": "/contracts/3fTutzvLoCb#stock-bonus", "label": "Employment Agreement (Impax Laboratories Inc)", "score": 21.0, "published": true}], "hash": "2b2380973ea45b7dd9c306bfdf28aa0b", "id": 7}, {"snippet": "The Executive shall be eligible to receive an annual stock bonus of shares of restricted Common Stock (the \u201cBonus Stock\u201d) based upon criteria determined by the Board of Directors in their sole discretion. The number of shares of Bonus Stock that the Executive shall be eligible to receive with respect to a calendar year shall be equal to the number obtained by dividing (a) the aggregate amount of Base Salary earned by the Executive during such year, by (b) the per share fair market value of one share of the Company\u2019s Common Stock as of the date of issuance of the Bonus Stock, as determined in good faith by the Board of Directors. All Bonus Stock shall be issued as promptly as reasonably practicable after the end of each calendar year pursuant to, and shall be subject to the terms and restrictions of, the Company\u2019s equity incentive plan and restricted stock agreements, in each case as approved by the Board of Directors. In order to be eligible to receive Bonus Stock with respect to any calendar year, the Executive must be employed by the Company as of December 31 of such year; provided, however, that if, prior to the date of actual issuance of any Bonus Stock with respect to a calendar year, the Executive\u2019s employment with the Company is terminated for Cause (as defined below), then the Company shall not be obligated to issue such Bonus Stock to the Executive and all rights of the Executive to such Bonus Stock shall be thereby forfeited.", "snippet_links": [{"key": "to-receive", "type": "definition", "offset": [32, 42]}, {"key": "annual-stock-bonus", "type": "clause", "offset": [46, 64]}, {"key": "restricted-common-stock", "type": "clause", "offset": [78, 101]}, {"key": "bonus-stock", "type": "clause", "offset": [108, 119]}, {"key": "by-the-board-of-directors", "type": "clause", "offset": [153, 178]}, {"key": "sole-discretion", "type": "clause", "offset": [188, 203]}, {"key": "number-of-shares-of", "type": "clause", "offset": [209, 228]}, {"key": "with-respect-to", "type": "clause", "offset": [289, 304]}, {"key": "equal-to", "type": "definition", "offset": [330, 338]}, {"key": "aggregate-amount", "type": "definition", "offset": [379, 395]}, {"key": "base-salary", "type": "clause", "offset": [399, 410]}, {"key": "by-the-executive", "type": "clause", "offset": [418, 434]}, {"key": "per-share-fair-market-value", "type": "definition", "offset": [464, 491]}, {"key": "one-share", "type": "definition", "offset": [495, 504]}, {"key": "of-the-company", "type": "clause", "offset": [505, 519]}, {"key": "the-bonus", "type": "definition", "offset": [565, 574]}, {"key": "in-good-faith", "type": "definition", "offset": [596, 609]}, {"key": "stock-shall", "type": "definition", "offset": [647, 658]}, {"key": "each-calendar-year", "type": "definition", "offset": [724, 742]}, {"key": "pursuant-to", "type": "definition", "offset": [743, 754]}, {"key": "terms-and-restrictions", "type": "clause", "offset": [784, 806]}, {"key": "equity-incentive-plan", "type": "clause", "offset": [825, 846]}, {"key": "restricted-stock-agreements", "type": "clause", "offset": [851, 878]}, {"key": "each-case", "type": "definition", "offset": [883, 892]}, {"key": "approved-by-the-board", "type": "definition", "offset": [896, 917]}, {"key": "to-be-eligible", "type": "clause", "offset": [941, 955]}, {"key": "employed-by-the-company", "type": "definition", "offset": [1036, 1059]}, {"key": "prior-to-the", "type": "clause", "offset": [1120, 1132]}, {"key": "employment-with-the-company", "type": "definition", "offset": [1225, 1252]}, {"key": "terminated-for-cause", "type": "definition", "offset": [1256, 1276]}, {"key": "the-company-shall", "type": "clause", "offset": [1302, 1319]}, {"key": "to-issue", "type": "clause", "offset": [1337, 1345]}, {"key": "to-the-executive", "type": "clause", "offset": [1363, 1379]}, {"key": "rights-of-the-executive", "type": "clause", "offset": [1388, 1411]}], "size": 3, "samples": [{"hash": "MHbPdk7zeC", "uri": "/contracts/MHbPdk7zeC#stock-bonus", "label": "Executive Employment Agreement", "score": 29.340862423, "published": true}, {"hash": "fQF9sAzvFpb", "uri": "/contracts/fQF9sAzvFpb#stock-bonus", "label": "Executive Employment Agreement (KAYAK SOFTWARE Corp)", "score": 20.0458590007, "published": true}, {"hash": "bffnqXNmfD", "uri": "/contracts/bffnqXNmfD#stock-bonus", "label": "Executive Employment Agreement (KAYAK SOFTWARE Corp)", "score": 20.0458590007, "published": true}], "hash": "3c94d420fab066fcc7792f1f53d52f51", "id": 8}, {"snippet": "Upon executing this Agreement, Employee shall receive a one time bonus of twenty-five thousand (25,000) shares of the Company's common stock (\"STOCK BONUS\") pursuant to the terms of the Company's Stock Grant Plan; provided, however, that such STOCK BONUS shall be subject to the following vesting schedule:\n1. Twelve thousand five hundred (12,500) shares of the STOCK BONUS shall vest immediately upon execution of this Agreement as a signing bonus;\n2. The remaining twelve thousand five hundred (12,500) shares shall vest according to the following schedule, in each case subject to the requirement that Employee achieves the performance goals established by the Compensation Committee for the preceding year: six thousand two hundred and fifty (6,250) shares shall vest on April 15, 1999; and the remaining six thousand two hundred fifty (6,250) shares shall vest on April 15, 2000. The STOCK BONUS and all unvested stock options and stock appreciation rights previously granted to Employee shall fully vest in the event of a CHANGE OF CONTROL or an INVOLUNTARY TERMINATION. In order to avoid Employee being forced to sell a portion of the shares received under the STOCK BONUS to pay the taxes thereon, all income and other taxes attributable to the STOCK BONUS, including the taxes on such taxes, shall be paid by the Company upon vesting thereof.\n3. In the event that Employee violates any of his noncompetition or nonsolicitation obligations as set forth in Section VII, any unvested STOCK BONUS granted to Employee hereby shall be rescinded, and all or a portion of Employee's vested STOCK BONUS shall be forfeited by Employee and returned to the Company according to the following schedule:\na. 100% of any vested STOCK BONUS shall be forfeited if such violation occurs prior to June 1, 1999;", "snippet_links": [{"key": "executing-this-agreement", "type": "clause", "offset": [5, 29]}, {"key": "five-thousand", "type": "clause", "offset": [81, 94]}, {"key": "shares-of-the-company", "type": "definition", "offset": [104, 125]}, {"key": "common-stock", "type": "clause", "offset": [128, 140]}, {"key": "terms-of-the", "type": "clause", "offset": [173, 185]}, {"key": "stock-grant-plan", "type": "definition", "offset": [196, 212]}, {"key": "subject-to-the", "type": "definition", "offset": [264, 278]}, {"key": "vesting-schedule", "type": 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"type": "definition", "offset": [1026, 1045]}, {"key": "involuntary-termination", "type": "definition", "offset": [1052, 1075]}, {"key": "in-order-to", "type": "clause", "offset": [1077, 1088]}, {"key": "to-sell", "type": "clause", "offset": [1117, 1124]}, {"key": "a-portion", "type": "definition", "offset": [1125, 1134]}, {"key": "shares-received", "type": "clause", "offset": [1142, 1157]}, {"key": "to-pay", "type": "clause", "offset": [1180, 1186]}, {"key": "income-and-other-taxes", "type": "clause", "offset": [1210, 1232]}, {"key": "by-the-company", "type": "clause", "offset": [1315, 1329]}, {"key": "upon-vesting", "type": "clause", "offset": [1330, 1342]}, {"key": "nonsolicitation-obligations", "type": "clause", "offset": [1420, 1447]}, {"key": "section-vii", "type": "clause", "offset": [1464, 1475]}, {"key": "bonus-granted", "type": "clause", "offset": [1496, 1509]}, {"key": "of-employee", "type": "clause", "offset": [1570, 1581]}, {"key": "by-employee", "type": "clause", "offset": [1622, 1633]}, {"key": "to-the-company", "type": "clause", "offset": [1647, 1661]}, {"key": "prior-to-june", "type": "clause", "offset": [1777, 1790]}], "size": 3, "samples": [{"hash": "4EaG5Ym08k8", "uri": "/contracts/4EaG5Ym08k8#stock-bonus", "label": "Executive Employment Agreement (Vari L Co Inc)", "score": 18.0, "published": true}, {"hash": "2SwE9tLuJYa", "uri": "/contracts/2SwE9tLuJYa#stock-bonus", "label": "Executive Employment Agreement (Vari L Co Inc)", "score": 18.0, "published": true}], "hash": "b8524d38ac00ae2df15c4cbc1374ebe0", "id": 9}, {"snippet": "In the event that Dental Cooperative acquires the Dental Practice and Provider makes the election set forth in Section 8.3(c)(i), then Dental Cooperative will issue to Provider restricted stock of the Company with a Market Price on the date that title to the Dental Practice is transferred to Dental Cooperative equal to the eight percent (8%) of Collections during the one year period immediately prior to the transfer of the Dental Practice to Dental Cooperative or its nominees.", "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "dental-practice", "type": "definition", "offset": [50, 65]}, {"key": "the-election", "type": "clause", "offset": [85, 97]}, {"key": "to-provider", "type": "definition", "offset": [165, 176]}, {"key": "stock-of-the-company", "type": "clause", "offset": [188, 208]}, {"key": "market-price", "type": "definition", "offset": [216, 228]}, {"key": "title-to-the", "type": "clause", "offset": [246, 258]}, {"key": "equal-to", "type": "definition", "offset": [312, 320]}, {"key": "one-year-period", "type": "definition", "offset": [370, 385]}, {"key": "transfer-of-the", "type": "clause", "offset": [411, 426]}], "size": 3, "samples": [{"hash": "a3c51yNmVxm", "uri": "/contracts/a3c51yNmVxm#stock-bonus", "label": "Affiliate Member Practice Purchase Agreement (Dental Patient Care America Inc)", "score": 21.0, "published": true}, {"hash": "36D7OuEHrvG", 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"title": "Stock Bonus", "id": "stock-bonus", "related": [["performance-share-award", "Performance Share Award", "Performance Share Award"], ["performance-share-awards", "Performance Share Awards", "Performance Share Awards"], ["performance-share-units", "Performance Share Units", "Performance Share Units"], ["restricted-stock-unit-award", "Restricted Stock Unit Award", "Restricted Stock Unit Award"], ["performance-units", "Performance Units", "Performance Units"]], "related_snippets": [], "updated": "2025-07-07T12:37:39+00:00", "also_ask": ["What are the essential conditions for vesting and forfeiture in a Stock Bonus clause?", "How can the Stock Bonus be structured to maximize retention while minimizing dilution risk?", "What are the most common legal pitfalls or ambiguities in Stock Bonus drafting?", "How do Stock Bonus provisions compare to stock option grants in enforceability and tax treatment?", "What factors most influence a court\u2019s decision to enforce or invalidate a Stock Bonus clause?"], "drafting_tip": "Specify eligibility criteria to prevent disputes, define vesting schedule to ensure clarity of rights, and outline forfeiture conditions to protect the company\u2019s interests.", "explanation": "A Stock Bonus clause provides employees or other parties with additional compensation in the form of company stock rather than cash. Typically, this clause outlines the conditions under which stock bonuses are awarded, such as meeting performance targets or achieving certain milestones, and may specify vesting schedules or restrictions on the sale of awarded shares. Its core practical function is to incentivize recipients by aligning their interests with the company's success, while also helping the company conserve cash and foster long-term commitment."}, "json": true, "cursor": ""}}