Common use of Performance Restrictions Clause in Contracts

Performance Restrictions. The Recipient of this Option will not have the right to exercise this Option until confirmation by the Board of Directors that the following performance goals have been completed: NET SALES OF 1,000 UNITS SOLD BY THE EAST COAST OFFICE BY DECEMBER 31, 1999. SALES SHALL BE DEEMED COMPLETED DURING THE FOREGOING PERIODS IF A CONTACT LEADING TO A SALE HAS BEEN MADE WITH A CUSTOMER DURING THE RELEVANT TIME PERIOD, AND THE SALE IS COMPLETED WITHIN SIX MONTHS AFTER THE END OF THE RELEVANT TIME PERIOD. THE RECIPIENT SHALL BE ENTITLED TO THE RIGHTS DESCRIBED IN SECTION 11(b), SUBJECT TO THE REQUIREMENTS AND LIMITATIONS OF SECTION 11. For purposes of this paragraph, the East Coast Office shall mean the people working out of the office of the Corporation located in the Washington, D.C., metropolitan area as of the date of this Agreement, and those who subsequently work in at such office as approved by the Corporation as part of the East Coast Office. The East Coast Office shall also include those VARs recruited by and working under the direction of the East Coast Office.

Performance Restrictions. The Recipient of this Option will not have the right to exercise this Option until confirmation by the Board of Directors that the following performance goals have been completed: NET SALES OF 1,000 500 UNITS SOLD BY THE EAST COAST OFFICE BY DECEMBER 31, 1999. SALES SHALL BE DEEMED COMPLETED DURING THE FOREGOING PERIODS IF A CONTACT LEADING TO A SALE HAS BEEN MADE WITH A CUSTOMER DURING THE RELEVANT TIME PERIOD, AND THE SALE IS COMPLETED WITHIN SIX MONTHS AFTER THE END OF THE RELEVANT TIME PERIOD. THE RECIPIENT SHALL BE ENTITLED TO THE RIGHTS DESCRIBED IN SECTION 11(b), SUBJECT TO THE REQUIREMENTS AND LIMITATIONS OF SECTION 11. For purposes of this paragraph, the East Coast Office shall mean the people working out of the office of the Corporation located in the Washington, D.C., metropolitan area as of the date of this Agreement, and those who subsequently work in at such office as approved by the Corporation as part of the East Coast Office. The East Coast Office shall also include those VARs recruited by and working under the direction of the East Coast Office.