Stock Performance Bonus Sample Clauses
Stock Performance Bonus. The company will pay a Stock Performance Bonus (the “Stock Performance Bonus”), which shall be paid in unrestricted shares of Common Stock of the Company or in Cash, at the Executive’s sole discretion, in accordance with the following: If the Company’s stock price maintains a 6-month average during any period in the Term of $1.50 or higher, then the Stock Performance Bonus shall be $100,000.
Stock Performance Bonus. If, during the thirty (30) consecutive day period immediately following the 10-month anniversary of the IPO, the Company’s average daily closing share price is at or above 1.25 times the Offering Price (the “SPB Trigger”), the Executive shall receive a bonus payout in an amount of $21,000 (the “Stock Performance Bonus”). If earned, the Stock Performance Bonus shall be paid in a lump sum, less required taxes and deduction, within thirty (30) days of achievement of the SPB Trigger but not earlier than the 12-month anniversary of the IPO. For purposes of calculating the Stock Performance Bonus, the term “Offering Price” shall mean that per-share price at which publicly issued securities of the Company are made available for purchase during the IPO, as set by the lead underwriter.
Stock Performance Bonus. Conditional upon the Executive commencing employment with the Company by the Start Date, the Executive shall be eligible to earn a onetime cash bonus equal to $100,000 (the “Stock Performance Bonus”), if and only if the closing price of the Powered Brands’ Class A ordinary shares on NASDAQ Stock Market LLC is at least $11.50 per share (as adjusted for share subdivisions, share dividends, reorganizations, recapitalizations and the like) for at least 20 out of any period of 30 consecutive trading days during the period commencing on the trading day after the consummation of Powered Brands’ Initial Business Combination and ending on the six month anniversary of the consummation of Powered Brands’ Initial Business Combination (the “Stock Performance Bonus Condition”). The Executive must be employed by the Company on the first date that the Stock Performance Bonus Condition is achieved to be eligible to receive the Stock Performance Bonus. Furthermore, payment of the Stock Performance Bonus is contingent upon Executive’s continued employment through, and payable in, the next pay period (but in no event greater than 30 days) following the first date on which the Stock Performance Bonus Condition is achieved; provided, that if the Executive is no longer employed by the Company on the date on which the Stock Performance Bonus would otherwise have been paid to the Executive for any reason other than a termination for Cause or the voluntary resignation of the Executive, the Stock Performance Bonus shall nonetheless be due and payable by the Company to the Executive hereunder.