Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.
Message: Re: on the rise...B-Lunist
(3) The Company shall provide Executive with a non-qualified stock option for exercise into Two Million (2,000,000) shares of the Company's common stock effective as of the Effective Date of this Agreement (the "Event Bonus Option"). The grant price of the Event Bonus Option shall be the closing sales price of the Company's common stock on February 29, 2008 as quoted on the OTC Bulletin Board, or if there is no closing sales price on that date, the closing selling price on the last preceding date for which such quotation exists. 100% of the shares subject to the Event Bonus Option will vest, and Executive's interim position will be converted to standing President/CEO, upon the effective date of any one of the following events: (i) the successful closing of a merger or acquisition brought forth primarily due to the efforts of Executive (excluding any merger or acquisition with TPL or any affiliated company) as approved by the Board of Directors; (ii) the listing of the Company on the Amex or NASDAQ stock exchanges as approved by the Board of Directors; (iii) a "sustained substantial increase in shareholder value" (as defined below) directly resulting from an Executive action approved by the Board of Directors; or (iv) approval by the Board of Directors for the partial vesting of the Event Bonus Option. For purposes of this section, a "sustained substantial increase in shareholder value" shall be defined as follows: "an sustained increase in Patriot's Market Capitalization to over $400 million for a period of no less than 90 days. "
Be well
5 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply