Volume Incentive Compensation Sample Clauses

Volume Incentive Compensation. The Company will issue the Distributor 20 incentive compensation warrants for each ActiPatch unit it purchases and pays for over 50,000 units in the first two Contract Years of this Agreement. Each Incentive Warrant will allow its holder to immediately purchase one share of Common Stock for $0.50, subject to adjustment, until three (3) years after the date of issuance. The Warrants will be redeemable by the Company, commencing 60 days from the date of issuance at a price of $.01 per Warrant at any time prior to their exercise or expiration upon 30 days’ prior written notice; provided, however, that (i) the closing sales price for the Common Stock for at least 30 consecutive calendar days ending on the third day prior to the date notice of redemption is given by the Company has been at least $1.00 per share and (ii) a registration statement relating to the shares of Common Stock issuable upon exercise of the Warrants has been declared effective by the Securities Exchange Commission and is available for the resale of such shares of Common Stock during such 30-day notice period.