AND EXERCISE PRICE. The Option shall vest, thereby giving -------------------------- Optionee the right to purchase shares at the following prices, in the following numbers, upon the occurrence of the following events: Event No. of Shares Exercise Price ----- ------------- -------------- (a) Execution of this Agreement. 21,000 $10.13 (b) Upon confirmation of a 30% increase, to 17,500 $10.13 10,400 shares in average daily trading volume, of the Company's stock over any 10 consecutive trading day period, over a stipulated baseline of 8,000 shares. (c) Confirmation of corporate research 10,500 $16.25 coverage from two(2) buy or sell side analysts or an endorsement by an appropriate investment newsletter publication with a subscriber base in excess of 3,000, vesting of one-half of this portion of the Option (the right to purchase 5,250 Shares) to occur upon the first research or recommendation event, and vesting of the other one-half of this portion of the Option (the right to purchase 5,250 additional Shares) to occur upon the second research or recommendation event. (d) Confirmation of maintenance of at least 14,000 [closing price on a 12.5 P/E ratio for a period of at the NYSE on the last least 45 consecutive calendar days. trading day within the 45 consecutive calendar days] (e) Confirmation of two (2) positive 3,500 $10.13 financial (non-trade oriented) media (1/st/ media event) events, such as articles in newspapers or financial magazines of recognized standings such as ▇▇▇▇▇▇'▇, Wall Street Journal, Fortune, Forbes, Business Week Magazine, Individual Investor Magazine, Investor's Business Daily or such other source as may be mutually agreed upon, in the financial and investment community or television or radio media 3,500 $16.25 coverage on well recognized financial, (2/nd/ media event) investment or business programs, vesting of the first one-half of this portion of the Option (the right to purchase 3,500 Shares) to occur upon the first media event and vesting of the second one-half of this portion of the Option (the right to purchase 3,500 additional Shares) to occur upon the second media event.
Appears in 1 contract
Sources: Engagement Agreement (Azz Inc)
AND EXERCISE PRICE. The Option shall vest, thereby giving -------------------------- Optionee the right to purchase shares at the following prices, in the following numbers, upon the occurrence of the following events: Event No. of Shares Exercise Price ----- ------------- -------------- --------------
(a) Execution of this Agreement. 21,000 $10.13
(b) Upon confirmation of a 30% 17,500 $10.13 increase, to 17,500 $10.13 10,400 shares in average daily trading volume, of the Company's stock over any 10 consecutive trading day period, over a stipulated baseline of 8,000 shares.
(c) Confirmation of corporate research 10,500 $16.25 research coverage from two(2) buy or sell side analysts or an endorsement by an appropriate investment newsletter publication with a subscriber base in excess of 3,000, vesting of one-half of this portion of the Option (the right to purchase 5,250 Shares) to occur upon the first research or recommendation event, and vesting of the other one-half of this portion of the Option (the right to purchase 5,250 additional Shares) to occur upon the second research or recommendation event.
(d) Confirmation of maintenance of at least 14,000 [closing price on least a 12.5 P/E ratio for a period of at on the NYSE on the last of at least 45 consecutive calendar the last days. trading day within the 45 consecutive calendar days]
(e) Confirmation of two (2) positive 3,500 $10.13 financial (non-trade oriented) media (1/st/ 1st media event) media events, such as articles in newspapers or financial magazines of recognized standings such as ▇▇▇▇▇▇'▇, Wall Street Journal, Fortune, Forbes, Business Week Magazine, Individual Investor Magazine, Investor's Business Daily or such other source as may be mutually 3,500 $16.25 agreed upon, in the financial and (2nd media event) investment community or television or radio media 3,500 $16.25 coverage on well recognized financial, (2/nd/ media event) investment or business programs, vesting of the first one-half of this portion of the Option (the right to purchase 3,500 Shares) to occur upon the first media event and vesting of the second one-half of this portion of the Option (the right to purchase 3,500 additional Shares) to occur upon the second media event.
Appears in 1 contract
Sources: Stock Option Agreement (Azz Inc)