Common use of Exercise Schedule Clause in Contracts

Exercise Schedule. The Option shall become vested and exercisable according to the following schedule: Number of Shares 100,000 September 21, 2011 September 15, 2019 100,000 September 21, 2012 September 15, 2020 100,000 September 21, 2013 September 15, 2021 100,000 September 21, 2014 September 15, 2022 100,000 September 21, 2015 September 15, 2023 If, however, the Executive is terminated pursuant to Section 8(a)(2)(vi) (other than for cause, disability or death) of the Employment Agreement, then all Options shall immediately and automatically vest on the Employment Termination Date (as defined in the Employment Agreement) without any further action by the Optionee. In addition, if the Company’s gross sales revenue for any fiscal year equals $100,000,000 or more, then all Options shall immediately and automatically vest on the last day of such fiscal year.

Appears in 4 contracts

Sources: Executive Employment Agreement (Arcis Resources Corp), Executive Employment Agreement (Arcis Resources Corp), Executive Employment Agreement (Arcis Resources Corp)

Exercise Schedule. The Option shall become vested and exercisable according to the following schedule: Number of Shares 100,000 September 21, 2011 September 1521, 2019 100,000 September 21, 2012 September 1521, 2020 100,000 September 21, 2013 September 1521, 2021 100,000 September 21, 2014 September 1521, 2022 100,000 September 21, 2015 September 1521, 2023 If, however, the Executive is terminated pursuant to Section 8(a)(2)(vi) (other than for cause, disability or death) of the Employment Agreement, then all Options shall immediately and automatically vest on the Employment Termination Date (as defined in the Employment Agreement) without any further action by the Optionee. In addition, if the Company’s gross sales revenue for any fiscal year equals $100,000,000 or more, then all Options shall immediately and automatically vest on the last day of such fiscal year.

Appears in 4 contracts

Sources: Executive Employment Agreement (Arcis Resources Corp), Executive Employment Agreement (Arcis Resources Corp), Executive Employment Agreement (Arcis Resources Corp)

Exercise Schedule. The Option shall become vested and exercisable according to the following schedule: Number of Shares 100,000 60,000 September 21, 2011 September 1521, 2019 100,000 60,000 September 21, 2012 September 1521, 2020 100,000 60,000 September 21, 2013 September 1521, 2021 100,000 60,000 September 21, 2014 September 1521, 2022 100,000 60,000 September 21, 2015 September 1521, 2023 If, however, the Executive is terminated pursuant to Section 8(a)(2)(vi) (other than for cause, disability or death) of the Employment Agreement, then all Options shall immediately and automatically vest on the Employment Termination Date (as defined in the Employment Agreement) without any further action by the Optionee. In addition, if the Company’s gross sales revenue for any fiscal year equals $100,000,000 or more, then all Options shall immediately and automatically vest on the last day of such fiscal year.

Appears in 4 contracts

Sources: Executive Employment Agreement (Arcis Resources Corp), Executive Employment Agreement (Arcis Resources Corp), Executive Employment Agreement (Arcis Resources Corp)

Exercise Schedule. The Option shall become vested and exercisable according to the following schedule: Number of Shares 100,000 200,000 September 2115, 2011 September 15, 2019 100,000 2015 150,000 September 2115, 2012 September 15, 2020 100,000 2015 150,000 September 2115, 2013 September 15, 2021 100,000 September 21, 2014 September 15, 2022 100,000 September 21, 2015 September 15, 2023 If, however, the Executive is terminated pursuant to Section 8(a)(2)(vi) (other than for cause, disability or death) of the Employment Agreement, then all Options shall immediately and automatically vest on the Employment Termination Date (as defined in the Employment Agreement) without any further action by the Optionee. In addition, if the Company’s gross sales revenue for any fiscal year equals $100,000,000 or more, then all Options shall immediately and automatically vest on the last day of such fiscal year.

Appears in 2 contracts

Sources: Executive Employment Agreement (Arcis Resources Corp), Executive Employment Agreement (Arcis Resources Corp)

Exercise Schedule. The Option shall become vested and exercisable according to the following schedule: Number of Shares 100,000 September 2115, 2011 September 15, 2019 100,000 September 2115, 2012 September 15, 2020 100,000 September 2115, 2013 September 15, 2021 100,000 September 2115, 2014 September 15, 2022 100,000 September 2115, 2015 September 15, 2023 If, however, the Executive is terminated pursuant to Section 8(a)(2)(vi) (other than for cause, disability or death) of the Employment Agreement, then all Options shall immediately and automatically vest on the Employment Termination Date (as defined in the Employment Agreement) without any further action by the Optionee. In addition, if the Company’s gross sales revenue for any fiscal year equals $100,000,000 or more, then all Options shall immediately and automatically vest on the last day of such fiscal year.

Appears in 1 contract

Sources: Executive Employment Agreement (Arcis Resources Corp)

Exercise Schedule. The Option shall become vested and exercisable according to the following schedule: Number of Shares 100,000 200,000/300,000 September 2115, 2011 September 15, 2019 100,000 2015 150,000 September 2115, 2012 September 15, 2020 100,000 2015 150,000/200,000 September 2115, 2013 September 15, 2021 100,000 September 21, 2014 September 15, 2022 100,000 September 21, 2015 September 15, 2023 If, however, the Executive is terminated pursuant to Section 8(a)(2)(vi) (other than for cause, disability or death) of the Employment Agreement, then all Options shall immediately and automatically vest on the Employment Termination Date (as defined in the Employment Agreement) without any further action by the Optionee. In addition, if the Company’s gross sales revenue for any fiscal year equals $100,000,000 or more, then all Options shall immediately and automatically vest on the last day of such fiscal year.. Int. ________ _________

Appears in 1 contract

Sources: Executive Employment Agreement (Arcis Resources Corp)