Equity Bonus Sample Clauses

Equity Bonus. During each calendar year of this Agreement, Executive shall be entitled to an annual bonus, payable in non-qualified stock options to purchase common stock of the Company (the “Options”) in accordance with the Company’s 2016 Equity and Incentive Plan and subject to the restrictions contained therein and/or in any Option Agreement between Executive and the Company, based upon acquisitions by the Company or a subsidiary of the Company of substantially all the assets of existing businesses or of controlling interests in existing business entities (collectively, the “Major Transactions”). The Options will be calculated as of January 15th of each year of this Agreement based upon the Major Transactions which took place in the immediately preceding calendar year, as follows: the number of shares of Common Stock that may be purchased pursuant to Options for such year shall be calculated based on the dollar value obtained by multiplying the sum of the purchase prices and/or proceeds of all Major Transactions during the immediately preceding year by .02, and such total shall then be divided by the average closing price of the Common Stock in the principal market on which the Common Stock is traded, for the five (5) consecutive trading days ending on the last trading day of the previous calendar year. The resulting calculation shall be the number of Options which shall be issued to the Executive. The Options shall have an exercise price equal to the closing price of the Common Stock in the principal market on which the Common Stock is traded as of the date of grant of such Options; provided, however, such exercise price shall be increased to 110% of the closing price of the Common Stock in the principal market on which the Common Stock is traded as of the date of grant of such Options, or such other amount, as may be required in accordance with the Company’s 2016 Equity and Incentive Plan. The Options will be exercisable for a period of five years. The calculations described above shall be made by no later than January 15th of the year following the calendar year for which the calculations are based and the shares shall be issued to the Executive within 15 days of the calculation having been completed. For purposes of illustration only, in the event that Major Transactions in the amount of $75,000,000 occurred during the 2016 calendar year and the closing price for the Common Stock on the date of such grant was $15.00 per share, in 2017 the Executive would be entit...

Equity Bonus. The Executive will receive, upon execution of this Agreement and approval by the Board of Directors, a one-time grant of 3,500 restricted stock units as a sign-on bonus. Such restricted stock units will become fully vested on the first (1st) anniversary of the grant date, provided the Executive remains continuously employed by the Employer during such one-year period commencing on the Effective Date, and will be subject to such other terms and conditions as may be provided in the restricted stock unit award agreement and the incentive plan maintained by the Employer pursuant to which the Compensation Committee grants the restricted stock units. The actual grant date will be established by the Compensation Committee when the Compensation Committee awards the restricted stock units in accordance with the Employer’s current policy for granting such awards.

Equity Bonus. As an incentive to enter into and undertake employment pursuant to this Agreement and to meet certain Company milestones the Executive will be granted stock options as follows:

Equity Bonus. With respect to each calendar year during the Term, Employee shall be also be eligible to receive an equity-based bonus based on the satisfaction of certain performance goals to be established by the Compensation Committee of the Board of Directors of the Company within the first 90 days of each such calendar year. For purposes of this Agreement, equity-based bonuses shall be made under the Plan and shall be deemed to be subject to the terms and conditions of such Plan. Any equity-based bonuses to be granted to Employee shall be made to Employee either in shares of Restricted Stock or Stock Options within 30 days after the date on which the Compensation Committee certifies that the performance goals, if any, have been met. Such Restricted Stock and/or Stock Options shall vest over a period of three years. With respect to the first calendar year during the Term of this Agreement, the following shall apply. Revenue goals 50 100% if the Company achieves 100% of Revenue goal; 80% if the Company achieves 80% of Revenue goal. If the Company achieves percentages of its budgeted Revenue between the limits above, the bonus will be awarded pro rata. EBITDA goals 50 100% if the Company achieves 100% of EBITDA goal; 80% if the Company achieves 80% of EBITDA goal. If the Company achieves percentages of its budgeted EBITDA between the limits above, the bonus will be awarded pro rata.

Equity Bonus. For each Fiscal Year Executive shall receive an annual equity incentive award in the form of Restricted Stock under the 2007 Incentive Award Plan or a successor plan (the “Equity Bonus”) in the amount of Two Hundred Thousand Dollars ($200,000), based on the grant date value of any such award, provided that the Company achieves the Adjusted Funds From Operations benchmark (as described in (b) above) for such Fiscal Year as set forth in the Bonus Criteria. Solely in the event that the Company either (i) exceeds the Bonus Criteria for a particular Fiscal Year, or (ii) does not achieve the Bonus Criteria for a particular Fiscal Year, the Compensation Committee may review the discretionary Equity Bonus on an annual basis and, in its discretion, increase (in the case of (c)(i) of this paragraph) or decrease to as low as zero (in the case of (c)(ii) of this paragraph) the Equity Bonus for that Fiscal Year. Any Equity Bonus earned for each Fiscal Year shall be granted following the completion of the Company’s annual audit but not later than June 30 following the end of such Fiscal Year, but only if Executive remains employed through the end of such Fiscal Year. The Equity Bonus to be paid for any Fiscal Year will be recommended by the Compensation Committee to the Board for its approval. Executive shall vest in the Equity Bonus at a rate equal to ten percent (10%) on each of the first ten anniversaries of the date of grant while Executive is still employed by the Company. All other terms and conditions applicable to such Equity Bonus shall be determined by the Compensation Committee and, if any such Equity Bonus is granted, such terms and conditions shall be no less favorable than those that apply to similarly situated executive officers of the Company under the 2007 Incentive Award Plan or any successor plan. The aggregate of the Equity Bonus and the Cash Bonus shall be referred to herein as the “Bonus”.

Equity Bonus. During the Term, if (i) the Executive is an employee of the Company; (ii) the Company is traded on a recognized national exchange or NASDAQ; and the market capitalization of the Company is in excess of Five Hundred Million Dollars ($500,000,000) for 3 consecutive trading days, the Company shall grant the Executive additional Stock Options in an amount equal to two percent (2%) of the then outstanding Common Stock of the Company at an exercise price equal to the then current market price as determined in good faith by the Board.

Equity Bonus. For each Fiscal Year Executive shall receive an annual equity incentive award in the form of restricted shares (the “Restricted Stock”) of the Company’s common stock, $0.0001 par value per share (“Common Stock”), under the 2017 Incentive Award Plan, as amended (the “2017 Incentive Award Plan”), or a successor plan (the “Equity Bonus”) in the amount of Five Hundred Thousand Dollars ($500,000), based on the grant date value of any such award, provided that the Company achieves the Adjusted Funds From Operations benchmark (as described in (b) above) for such Fiscal Year as set forth in the Bonus Criteria. Solely in the event that the Company either (i) exceeds the Bonus Criteria for a particular Fiscal Year, or (ii) does not achieve the Bonus Criteria for a particular Fiscal Year, the Compensation Committee may review the discretionary Equity Bonus on an annual basis and, in its discretion, increase (in the case of (c)(i) of this paragraph) or decrease to as low as zero (in the case of (c)(ii) of this paragraph) the Equity Bonus for that Fiscal Year. Any Equity Bonus earned for each Fiscal Year shall be granted following the completion of the Company’s annual audit but not later than June 30 following the end of such Fiscal Year, but only if Executive remains employed through the end of such Fiscal Year. The Equity Bonus to be paid for any Fiscal Year will be recommended by the Compensation Committee to the Board for its approval. Each Equity Bonus shall vest according to the following schedule: ten percent (10%) shall vest on the date of grant, ten percent (10%) shall vest on the first anniversary of the date of grant, ten percent (10%) shall vest on the second anniversary of the date of grant, ten percent (10%) shall vest on the third anniversary of the date of grant, ten percent (10%) shall vest on the fourth anniversary of the date of grant, ten percent (10%) shall vest on the fifth anniversary of the date of grant, ten percent (10%) shall vest on the sixth anniversary of the date of grant, ten percent (10%) shall vest on the seventh anniversary of the date of grant, ten percent (10%) shall vest on the eighth anniversary of the date of grant, and ten percent (10%) shall vest on the ninth anniversary of the date of grant, in each case provided that the Executive is still employed by the Company. All other terms and conditions applicable to such Equity Bonus shall be determined by the Compensation Committee and, if any such Equity Bonus is granted, such ter...

Equity Bonus. (a) Each Equity Bonus shall consist of the amounts enumerated in this Section 3.4 of restricted shares of the Company’s common stock (“Restricted Shares”), and stock options for the purchase of the amount of shares of the Company’s common stock with exercise price(s) or other terms and conditions determined by the Board or the Compensation Committee subject to the provisions of this Section 3.4 (“Stock Options”). All grants of Restricted Shares and Stock Options provided for under this Section 3.4 shall be awarded under the Stran & Company, Inc. Amended and Restated 2021 Equity Incentive Plan (the “Plan”) and shall be subject to the further terms and conditions of the Plan and a Restricted Stock Award Agreement or Stock Option Agreement, respectively. Stock Options will be exercisable only to the extent that the Company has a sufficient number of authorized shares of common stock available for issuance, after accounting for all shares reserved for issuance pursuant to rights not subject to a similar limitation. If at any time there are not sufficient authorized shares of common stock as determined in accordance with the preceding sentence, the Company shall use its best efforts to effect an increase in the number of shares of common stock it is authorized to issue. (b) Each portion of an Equity Bonus consisting of Restricted Shares shall be granted and shall be immediately fully-vested and exercisable upon certification of attainment of the applicable Target by the Board or the Compensation Committee. Each portion of an Equity Bonus consisting of a Stock Option subject to the Equity Bonus for the first fiscal year ending during the Term shall be granted upon execution of this Agreement, subject to the approval of the Board or the Compensation Committee. Each portion of an Equity Bonus consisting of a Stock Option subject to the Equity Bonus for each fiscal year ending subsequent to the first fiscal year ending during the Term shall be granted at the beginning of such subsequent fiscal year, subject to the approval of the Board or the Compensation Committee. Each Stock Option shall vest and become exercisable upon certification of attainment of the applicable Target by the Board or the Compensation Committee.

Equity Bonus. In conjunction with the execution of this agreement, Employee will be offered an Employee Incentive Stock Option Award Agreement for ten thousand (10,000) shares of the Company’s common stock.