Share Incentive Clause Samples

Share Incentive. BONUS SCHEMES ETC ---------------------------------- The Company does not have in existence and is not proposing to introduce any share incentive scheme, share option scheme or profit sharing scheme for all or any part of its directors or employees.

Share Incentive. (i) The Company agrees to issue to the Consultant, as soon as practicable after the Commencement Date, Fifty Thousand (50,000) shares of the Company’s Common Stock (the “Initial Shares”), which shall vest on the 12-month anniversary of the Commencement Date. In the event of the Consultant’s termination of this Agreement for Good Reason or the Company’s termination of the Consultant’s services under this Agreement for Cause due to Consultant’s failure to comply with Section 2 hereof, Consultant shall be entitled to keep such Initial Shares, subject to the vesting schedule provided in this Section 4(c)(i). The terms and conditions of the grant of the Initial Shares shall be further set forth in a grant agreement by and between the Consultant and the Company. (ii) As soon as practicable after the Consultant’s appointment as the Full-Time Chief Financial Officer and the Consultant’s resignation from all other employment and/or officer positions with all other entities pursuant to Section 2(b)(ii) of this Agreement, the Company agrees to grant 100,000 shares of Common Stock of the Company (the “Supplemental Shares”) to the Consultant, with 50,000 of such Supplemental Shares to vest on the one year anniversary of the Consultant’s appointment as the Full-Time Chief Financial Officer by the Company’s Board of Directors and 50,000 of such Supplemental Shares to vest on the two-year anniversary of the Consultant’s appointment as the Full-Time Chief Financial Officer by the Company’s Board of Directors. The Consultant acknowledges and agrees that if the Company’s Common Stock is listed or quoted on a stock exchange or automated dealer quotation system at the time of the Company is required to grant the Supplemental Shares pursuant to this Section 4(c)(ii), the Company’s grant of the Supplemental Shares may be subject to the rules of such exchange or quotation system which the Company will be required to follow. The terms and conditions of the grant of the Supplemental Shares shall be further set forth in a grant agreement by and between the Consultant and the Company. (iii) The Consultant represents, acknowledges and agrees that: (A) the Initial Shares and Supplemental Shares are being offered and sold under one or more of the exemptions from registration provided for in Section 4(2) of the Securities Act of 1933, as amended (the “1933 Act”), including Regulation D promulgated thereunder, and any applicable state securities laws, (b) the Initial Shares and Supplement...

Share Incentive. The Company shall issue to the Consultant at the end of each year, One hundred and sixteen thousand six hundred and sixty seven (116,667) shares of the Common Stock of the Company, free, for the next two years and One hundred and sixteen thousand six hundred and sixty six (116,666) in the third year. A total of Three hundred and fifty thousand (350,000) shares.