Common use of Additional Preferred Shares Clause in Contracts

Additional Preferred Shares. If the aggregate Net Profit of AIG for the ten (10) quarters beginning with the quarter ending September 30, 1998 exceeds $5,000,000, then Netplex, within ten (10) days after the calculation made pursuant to this paragraph, will issue to Seller or its designee(s) either (i) additional shares of Netplex Preferred Stock, (as the same is defined in the Asset Agreement), or (ii) Netplex Common Stock, at Netplex's option, as is determined by the formula hereinafter set forth. For purposes of this calculation, the parties agree and understand that the quarter ending September 30, 1998 only includes the month of September, 1998. Such determination shall be made on or before March 1, 2001. The number of such additional shares of Netplex Preferred Stock shall be calculated in accordance with the formula below (hereinafter "Additional Preferred Share Calculation"): [(The sum of the Net Profit for the ten consecutive quarters defined above, or $9,000,000, whichever is less) minus $5,000,000] divided by $4,000,000, the quotient of which is then multiplied by [the number of shares of Netplex Preferred Stock issued to Seller pursuant to Article 3 of the Asset Agreement less the amount of such Netplex Preferred Stock converted to Netplex Common Stock and no longer owned by Seller prior to December 31, 2000].

Additional Preferred Shares. If the aggregate Net Profit of AIG for the ten (10) quarters beginning with the quarter ending September 30, 1998 exceeds $5,000,000, then Netplex, within ten (10) days after the calculation made pursuant to this paragraph, will issue to Seller or its designee(s) either (i) additional shares of Netplex Preferred Stock, (as the same is defined in the Asset Agreement), or (ii) Netplex Common Stock, at Netplex's option, as is determined by the formula hereinafter set forth. For purposes of this calculation, the parties agree and understand that the quarter ending September 30, 1998 only includes the month of September, 1998. Such determination shall be made on or before March 1, 2001. The number of such additional shares of Netplex Preferred Stock shall be calculated in accordance with the formula below (hereinafter "Additional Preferred Share Calculation"): [(The sum of the Net Profit for the ten consecutive quarters defined above, or $9,000,000, whichever is less) minus $5,000,000] divided by $4,000,000, the quotient of which is then multiplied by [the number of shares of Netplex Preferred Stock issued to Seller pursuant to Article 3 of the Asset Acquisition Agreement less the amount of such Netplex Preferred Stock converted by Seller to Netplex Common Stock and no longer owned by Seller prior to December 31, 2000].