Common use of Final Amount Clause in Contracts

Final Amount. Subject to the provisions of Section 4 of this Agreement, the entitlement to receive the Final Amount shall be payable in increments strictly in accordance with the following schedule: (a) The entitlement to receive the first one-third (1/3) of the Final Amount shall vest on the Final Price Threshold Date and shall be paid by the Company to the Consultant within thirty (30) days of the Final Price Threshold Date in the manner set out in Section 3(c) below. (b) The entitlement to receive the remainder of the Final Amount shall vest and become payable on the dates occurring, respectively, 18 months and 36 months from the Final Price Threshold Date, as set forth in Section 3(c) below. If any of the aforementioned payment dates is not a business day during which the Company is open for business, the payment date shall be the first business date occurring immediately thereafter. (c) Each of the above payments shall be paid in the form of shares of Stock to be issued to the Consultant. If either of the dates referenced in 2(b) above occurs on or after January 1, 2000, vesting and time of payment shall be accelerated to as soon after January 1, 2000 as is administratively practicable. (d) No entitlement shall be payable under this Section 3 if the Final Price Threshold Date has not occurred prior to January 1, 2000.

Final Amount. Subject to the provisions of Section 4 of this Agreement, the entitlement to receive the Final Amount shall be payable in increments strictly in accordance with the following schedule: (a) The entitlement to receive the first one-third (1/3) of the Final Amount shall vest on the Final Price Threshold Date and shall be paid by the Company to the Consultant within thirty (30) days of the Final Price Threshold Date in the manner set out in Section 3(c) below. (b) The entitlement to receive the remainder of the Final Amount shall vest and become payable on the dates occurring, respectively, 18 months and 36 months from the Final Price Threshold Date, as set forth in Section 3(c) below. If any of the aforementioned payment dates is not a business day during which the Company is open for business, the payment date shall be the first business date occurring immediately thereafter. (c) Each of the above payments shall be paid in the form of shares of Stock to be issued to the Consultant. If either of the dates referenced in 2(b) above occurs on or after January 3 May 1, 2000, vesting and time of payment shall be accelerated to as soon after January May 1, 2000 as is administratively practicable. (d) No entitlement shall be payable under this Section 3 if the Final Price Threshold Date has not occurred prior to January 1, 2000.