Stock Payment Clause Samples
A Stock Payment clause defines the terms under which payment for goods, services, or obligations is made using shares of stock rather than cash. This clause typically specifies the type and number of shares to be issued, the valuation method for the stock, and any conditions or restrictions on transferability. By outlining these details, the clause facilitates non-cash compensation or settlement, which can help preserve cash flow for the paying party and align the interests of both parties through shared equity.
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Stock Payment. In recognition of prior and current services performed, CLIENT will grant CONSULTANT Two Hundred Fifty Thousand (250,000) Options to purchase CLIENT common stock at a price of $.30 per share and exercisable for in accordance with the attached schedule as approved by CLIENT Board of Directors.
Stock Payment. Section 2.01(c) of the Agreement is hereby amended to read as follows:
Stock Payment. Buyer shall issue 545,000,000 shares of its common stock (valued at $10,900,000 at $0.02 per share) in seven (7) certificates:
1. 130,500,000 shares;
Stock Payment. If not prohibited by applicable law, the Committee may issue unrestricted shares of Common Stock, alone or in tandem with other Awards, in such amounts and subject to such terms and conditions as the Committee shall from time to time in its sole discretion determine; provided, however, that to the extent Section 409A of the Code is applicable to the grant of unrestricted shares of Common Stock that are issued in tandem with another Award, then such tandem Awards shall conform to the requirements of Section 409A of the Code. A Stock Payment may be granted as, or in payment of, a bonus (including, without limitation, any compensation that is intended to qualify as “performance-based compensation” for purposes of Section 162(m) of the Code), or to provide incentives or recognize special achievements or contributions.
Stock Payment. The Board of Directors, in its sole discretion, may allow Employee to use Common Stock of the Company owned by him to make any required payments by delivery of stock certificates in negotiable form which are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market Value. Notwithstanding the foregoing, the Company shall have the right to reject payment in the form of Common Stock if in the opinion of counsel for the Company, (i) it could result in an event of "recapture" under Section 16(b) of the Securities Exchange Act of 1934; (ii) such shares of Common Stock may not be sold or transferred to the Company; or (iii) such transfer could create legal difficulties for the Company.
Stock Payment. Provided that prior approval of the Committee has been obtained, the Employee may use Common Stock of the Company owned by him to pay the purchase price for the Option Shares by delivery of stock certificates in negotiable form which are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market Value.
Stock Payment. Purchaser shall issue the Escrow Shares to Seller or its nominee(s) in accordance with the following:
(a) Within 30 days of the signing of this agreement, Purchaser shall deliver to the Escrow Agent (designated by the Purchaser) the Escrow Shares, to be held under the terms of an escrow agreement to be entered into with the Escrow Agent. The Share Release schedule for Stock Payment is illustrated in Table 1 in Clause 3.4 below.
(b) In exchange, Seller will transfer to the Purchaser the Sale Shares at the Completion Date.
3.3.1 In the event that:
(a) The Purchaser fails to receive any required regulatory approvals by the US SEC, NASDAQ, or fails to receive the approval of the Shareholders of PACT (if required) by the Completion Date or such other date as the parties hereto may agree in writing;
(b) The conditions set out in Clause 4 shall not have been fulfilled or waived by the relevant party by the Completion Date or such other date as the parties hereto may agree in writing (provided that unless the Purchaser has notified the Seller in writing that it is not satisfied by 1 January 2008 condition 4.1(a) shall be deemed to have been fulfilled and unless the Seller has notified the Purchaser in writing that it is not satisfied by 1 January 2008 condition 4.4(a) shall be deemed to have been fulfilled); or
(c) The transaction is not completed for any reason by June 30, 2008, the Escrow Agreement shall provide that the Escrow Shares shall be returned to Purchaser and this Agreement shall cease to have effect immediately after that time (but without prejudice to the parties accrued rights and liabilities under this Agreement at the time it ceases to have effect).
3.3.2 In the event that the VWAP of the PACT Shares is greater than $6.50 then the price of the stock from $6.50 and upwards will be offset by lowering the Earn-Out Amounts in 3.5.2 by the amount over $6.50 multiplied by the number of Escrow Shares issued pursuant to 3.4.1 Any such amounts shall be offset against the last Earn-Out Year first with any excess against the third Earn-Out Year, then against the second Earn-Out Year and lastly against the first Earn-Out Year.
Stock Payment. For the licenses granted in Section 2.1 of this ------------- Agreement, Licensee shall also pay ARCH the sum of * by issuing to ARCH, without separate consideration and free and clear of all claims, liens and other encumbrances, (a) simultaneously with and as a part of the consummation of the sale by Licensee of Equity Securities, or (b) if Equity Securities are not sold within one year after execution of this Agreement, on the anniversary of the execution of this Agreement, * in aggregate purchase price of Equity Securities, at the same price and otherwise on the same terms as the Equity Securities are issued and sold, or were last issued and sold, to the other purchasers of such Equity Securities. ARCH shall have all the same rights and privileges, and shall be subject to the same obligations and limitations, as a purchaser of Equity Securities as all other purchasers of Equity Securities. Licensee's obligation to issue Equity Securities to ARCH under this Section shall be contingent only on the execution and delivery by ARCH of the same agreements and other documents required to be executed by all other purchasers of Equity Securities.
Stock Payment. The Company, in its sole discretion, may allow Employee to use Common Stock of the Company owned by him to make any required payments by delivery of stock certificates in negotiable form which are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances. Shares of Common Stock used for this purpose shall be valued at the Fair Market Value.
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