Stock Bonuses. In the event that the Administrator grants a Stock Bonus, the Shares constituting such Stock Bonus shall, as determined by the Administrator, be evidenced in uncertificated form or by a book entry record or a certificate issued in the name of the Participant to whom such grant was made and delivered to such Participant as soon as practicable after the date on which such Stock Bonus is payable.
Stock Bonuses. Executive shall receive a bonus consisting of 140,000 shares of Proformix's Common Stock, for the first year, and 200,000 shares in any year thereafter, in any of which years Proformix's after tax net profits exceed $1,000,000 for each of its first three full fiscal years during the Employment Term, beginning with calendar year 1998. The bonus shall be paid during the calendar quarter following completion of the audit of Proformix's financial statements for the calendar year in question. Net profits shall be computed using generally accepted accounting principles. There shall be no stock bonus paid after the first three full fiscal years.
Stock Bonuses. In addition to the basic salary provided for above, Employer hereby grants to executive a stock bonus in the amount of 100,000 shares upon the Company beginning its first production run of products. In addition, a 100,000 share bonus will be paid upon the company achieving its first $1 million of sales. In addition a 150,000 share bonus will be paid to Employee upon the company first achieving sales of $5 million. In addition, Executive will receive a 150,000 share bonus upon the company achieving sales of $10 million. If, and to the extent that the number of shares of common stock of Employer shall be increased or reduced by whatever action, including but not limited to change of par value, split up, reclassification, distribution or a dividend payable in stock, or the like, the number of shares subject to the Stock Bonus not yet paid to Employee shall be proportionately adjusted. If Employer is reorganized or consolidated or merged with another corporation, Executive shall be entitled to receive shares of stock covering shares payable to Employee but not yet received by Employee of such reorganized, consolidated, or merged company in the same proportion, at an equivalent price, and subject to the same conditions. For purposes of the preceding sentence, the excess of the aggregate fair market value of the shares subject to the option immediately after any such reorganization, consolidation, or merger over the aggregate option price of such shares shall not be more than the excess of the aggregate fair market value of all shares subject to the Stock Bonus not yet paid immediately before such reorganization, consolidation, or merger over the aggregate price of such shares.
Stock Bonuses. 15 13. RIGHTS AS A STOCKHOLDER. . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Stock Bonuses. In the event that the Committee grants a Stock Bonus, a certificate for the shares of Common Stock comprising such Stock Bonus shall be issued in the name of the Participant to whom such grant was made and delivered to such Participant as soon as practicable after the date on which such Stock Bonus is payable.
Stock Bonuses. The Company has recorded an accrual for contemplated bonuses to certain of its executives in consideration for services rendered prior to Closing. The Buyer will cause this obligation to be discharged after the Closing through the grant and issuance of restricted stock units (that will be immediately vested and settled in unrestricted shares) covering a number of shares of Parent Common Stock having a value equal to $4,000,000 (based on the value of the Parent Common Stock at the close of the market on the date of grant, rounded up to the nearest whole share) to be issued under the terms and conditions of Parent’s 2006 Stock Incentive Plan (the “Unrestricted Bonus Shares”), which issuance shall be pursuant to a registration statement on Form S-8. The Buyer agrees that the award of the Unrestricted Bonus Shares will not be conditioned on future performance or continued tenure at the Buyer and/or the Company or any of its Subsidiaries following the Closing Date, nor shall such awards be subject to any forfeiture, clawback or similar mechanism. In addition, the Buyer will grant and issue Performance Earnings Program units covering a number of shares of Parent Common Stock having a value equal to $1,000,000 (based on the value of the Parent Common Stock at the close of the market on the date of grant, rounded up to the nearest whole share) to be issued under the terms and conditions of Parent’s 2006 Stock Incentive Plan (the “Restricted Bonus Shares” and, collectively with the Unrestricted Bonus Shares, the “Bonus Shares”), which issuance shall be pursuant to a registration statement on Form S-8. The Buyer agrees that the Bonus Shares will be awarded to current employees of the Company and its Subsidiaries as selected and in such amounts determined by the Sellers in their sole discretion and shall be subject to terms and conditions consistent with the Performance Earnings Program unit awards granted to Parent employees for fiscal years 2009 and 2010 (including, with respect to the Restricted Bonus Shares, the requirement for continued employment and the achievement by Parent of financial performance goals). The Bonus Shares shall be granted and issued by Parent not later than 45 days following the Closing Date (at which time the Unrestricted Bonus Shares shall be fully vested and freely tradable under applicable Law); provided, that the Bonus Shares shall be credited to the applicable employee’s account within the later of (i) eight (8) Business Days after the...
Stock Bonuses. In addition, WMTC shall grant to the Owner stock bonuses under the Plan of (i) 300,000 shares after the closing price of the WMTC stock has been maintained at or above the price of $1.00 per share for at least two thirds of the trading days during any 30-consecutive-trading-days’ period, (ii) 500,000 shares upon WMTC signing the first definitive strategic alliance agreement and / or arrangement of project capital of not less than $10,000,000, excluding the current funding as provided in the Binding MOU, as amended; (iii) 200,000 shares upon WMTC obtaining a listing on a senior stock exchange in Asia. The termination of this Agreement shall be deemed a cessation of Service (as defined in the Plan) in connection with any options granted to the Owner hereby.
Stock Bonuses. XCNT will issue 50,000 share of its common stock ------------ as a bonus to the Shareholders for their valuable services as officers of GTC.
Stock Bonuses. The Committee may award shares under the Plan as stock bonuses. Shares awarded as a bonus shall be subject to the terms, conditions, and restrictions determined by the Committee. The restrictions may include restrictions concerning transfer ability and forfeiture of the shares awarded, together with such other restrictions as may be determined by the Committee. The Committee may require the recipient to sign an agreement as a condition of the award, but may not require the recipient to pay any monetary consideration other than amounts necessary to satisfy tax withholding requirements. The agreement may contain any terms, conditions, restrictions, representations and warranties required by the Committee. The certificates representing the shares awarded shall bear any legends required by the Committee. The Company may require any recipient of a stock bonus to pay to the Company in cash upon demand amounts necessary to satisfy any applicable federal, state or local tax withholding requirements. If the recipient fails to pay the amount demanded, the Company may withhold that amount from other amounts payable by the Company to the recipient, including salary or fees for services, subject to applicable law. With the consent of the Committee, a recipient may deliver Common Stock to the Company to satisfy this withholding obligation. Upon the issuance of a stock bonus, the number of shares reserved for issuance under the Plan shall be reduced by the number of shares issued.
Stock Bonuses. An Eligible Recipient may be granted one or more Stock Bonuses under the Plan, and such Stock Bonuses will be subject to such terms and conditions, consistent with the other provisions of the Plan, as may be determined by the Committee. The Participant will have all voting, dividend, liquidation and other rights with respect to the shares of Common Stock issued to a Participant as a Stock Bonus under this Section 9 upon the Participant becoming the holder of record of such shares; provided, however, that the Committee may impose such restrictions on the assignment or transfer of a Stock Bonus as it deems appropriate.
