2015 Profit Earnout Clause Samples

2015 Profit Earnout. The Sellers shall be eligible to receive additional consideration (collectively, the “Profit Consideration”) (paid to the Sellers in accordance with each Seller’s Pro Rata Portion) based of the Adjusted EBITDA of the Company for the 12-month period ending on December 31, 2015 (the “Profit Period”) as follows: If the Adjusted EBITDA is greater than Four Million and 00/100 ($4,000,000.00) Dollars during the Profit Period (the “Target EBITDA”), the Sellers shall be paid an amount equal to Two Hundred Sixty Five Thousand and 00/100 ($265,000.00) Dollars; provided, that if the Adjusted EBITDA is less than the Target EBITDA, there shall be no payment of the Profit Consideration due to the Sellers. The Profit Consideration, if any, shall paid to the Sellers on or within ninety (90) days following the completion of the Profit Period.