Brumfield Jeffrey 4
4 · CDEX INC · Filed Jun 20, 2011
Insider Transaction Report
Form 4
CDEX INCCEXI.OB
Brumfield Jeffrey
Other
Transactions
- Award
Stock Option (Right to Buy)
2011-01-21+8,000,000→ 8,000,000 totalExercise: $0.05Exp: 2017-01-21→ Common Stock (8,000,000 underlying)
Footnotes (1)
- [F1]The Options shall vest as to one-half of the shares (4,000,000) on the Effective Date; and one-quarter of the shares (2,000,000) in the 4.5 years starting in month 7 through year 5 from the Effective Date if the Company reports a positive increase in cash flow from all activities in the Company?s published financial statements for two fiscal quarters within any twelve-month time period subsequent to October 31, 2010 and the Company experiences a 10% improvement in its Modified EBITDA (defined as net income or loss before depreciation, amortization, accretion, impairment charges and other gains and losses, interest expense, interest income, income tax expense or benefit, cumulative effect of change in accounting principle, and non-cash stock-based compensation expense) for any fiscal year ended October 31