Acquisition Bonus. If an Acquisition (as defined herein) occurs during the Employment Period, Executive shall receive a bonus equal to 1% of any acquired company’s 2 | Page
Acquisition Bonus. A. In the event that Company shall acquire any third party business approved for acquisition by the Board of Directors of Company (the “Acquisition Target”), Executive shall be entitled to a bonus equal to ½ of 1% of the Gross Revenue of the Acquisition Target. Gross Revenue shall be defined as the preceding 12 months gross revenue of the Acquisition Target as reported on the financial statements of the Acquisition Target for the period ending most closely preceding the closing date of the acquisition. The Acquisition Bonus shall be payable in two equal installments, the first due upon closing and the second due upon Company achieving integration benchmarks as determined in good faith by the Board of Directors of Company in consultation with Executive.
B. In the event that Company shall acquire any Acquisition Target, Company shall make available to Executive a sum equal to ½ of 1% of the Gross Revenue of the Acquisition Target, for distribution to members of the acquisition and integration teams other than Executive, at the discretion of Executive.
C. All payments of bonus by Company will be subject to cash availability and will be paid no later than 75 days after such bonus is earned by Executive.
Acquisition Bonus. In the event of the sale at a price, agreed upon by a majority of the Directors, that results in a Change of Control of the Company during the term of Executive's employment, Executive will be entitled to a $50,000.00 acquisition bonus. The acquisition bonus will be paid within thirty (30) days after closing of the acquisition.
Acquisition Bonus. For Accounts opened and Activated on or after January 2, 2019, Cardholders shall earn a one-time acquisition bonus of 20,000 Rewards Points redeemable at any time for Co-Brand Partner products and services when all of the following occur: (a) the Account is enrolled in the Rewards Program; (b) at least $1,500 in Qualifying Credit Card Transactions are posted to the Account during the first 3 Billing Cycles after the account is opened; and (c) the account is in good standing per FNBO records. Discretionary Terms: If any discretionary terms are proposed by Co-Brand Partner, except to the extent those terms do not require FNBO to undertake additional obligations or activities with respect to the Rewards Program (including tracking information), such proposed discretionary terms must be agreed upon by FNBO to become obligations under the Reward Program.
Acquisition Bonus. Upon the closing of any acquisition by the Company during the Employment Period of any company or business, the Board (or the Compensation Committee thereof) shall have the sole discretion to grant to Executive an acquisition bonus, payable at the election of the Board (or the Compensation Committee thereof), in cash or in fully vested shares, or options to purchase shares of the Company’s Common Stock under the Company’s then existing equity incentive plan, provided that the Executive shall pay all applicable withholding taxes relative to such acquisition bonus.
Acquisition Bonus. In the event that during the term of the Executive’s employment the Company is acquired within 5 years of the Start Date, at a net cash price of $10 per common share or more (net cash price means the net amount received by the selling shareholders either in cash or in stock which is of a class regularly traded on a U.S. exchange or U.S. trading system (including the OTCBB), or a combination thereof), then Executive will receive an acquisition bonus which is computed as the difference between the per share stock price of the Company on the Start Date and the price paid in the acquisition, multiplied by 37,500. Per share stock price will be appropriately adjusted for stock splits, stock dividends, and the like, and cash dividends paid between the date of this Agreement and the date of closing of the acquisition will be counted towards that $10 per share price. The Company is considered “acquired” if a Corporate Transaction, as defined in the Company’s 2007 Stock Option Plan, occurs. If any of the acquisition price is payable by an earn out or other contingent payment, then the Board shall in good faith determine the present fair market value of that earn out or contingent payment at the time of closing of the acquisition for purposes of determining whether a payment is owing hereunder and the amount of the payment. If any of the acquisition price is payable in the form of stock which is of a class regularly traded on a U.S. exchange or U.S. trading system, but either it is not readily tradable under the securities laws or by contractual restriction, or if it is stock which is not as a practical matter immediately saleable into a liquid market, then the Board shall in good faith determine the present fair market value of that stock taking into account that limitation on the ability to immediately trade that stock, at the time of closing of the acquisition for purposes of determining whether a payment is owing hereunder and the amount of the payment The acquisition bonus will be paid within thirty (30) days after closing of the acquisition.
Acquisition Bonus. For any acquisition of an existing business made by Employer during the Employment Period, then the Executive shall receive upon closing of the acquisition warrants for restricted Parent Common Stock with a value equal to 0.666% of the Aggregate Transaction Consideration of the acquisition. The value of the warrants shall be calculated one day prior to the closing of the acquisition assuming a 90% volatility of the underlying Parent Common Stock pursuant to the Black Scholes option - pricing model and shall vest six months from the date of issue. The warrants shall be convertible on a one-to-one basis into common stock with a term of five years, a strike price that is 10% above the closing price of the Parent Common Stock one day prior to the closing date of the acquisition.
Acquisition Bonus. In addition to the Annual Salary and Incentive Bonus, Executive shall receive an acquisition bonus (the “Acquisition Bonus”) equal to two (2%) percent of the gross purchase price paid in connection therewith upon the closing of any acquisition directly or indirectly by the Company or its subsidiaries during the Employment Period of any company or business (including purchases of all or substantially all of the assets of any such entity) having then existing sales of not less than three million five hundred thousand dollars ($3,500,000), the acquisition of which is identified and substantially negotiated by the Executive. The bonus shall be paid within thirty (30) days following the closing of such acquisition. All applicable withholding taxes shall be deducted from such payments.
Acquisition Bonus. Within thirty (30) days of the closing date of an acquisition by the Company, the Executive shall receive a lump sum payment equal to the net amount set forth below based upon Target Annual Revenue, consisting of fifty percent (50%) in cash, fifty percent (50%) in Company stock (the number of shares of which shall be determined by the value of the Company on the closing date of the transaction giving rise to the payment) and an additional cash bonus to serve as a gross up payment to cover all federal, state and/or local income taxes on the Company stock. For purposes of this Section 5(c), Target Annual Revenue means the annual revenue reflected in the audited financial statements for the most recent completed fiscal year of the target entity acquired by the Company. Target Annual Revenue Payment < $10,000,000 $50,000 cash / $50,000 stock $10,000,000 - $20,000,000 $75,000 cash / $75,000 stock > $20,000,000 $100,000 cash / $100,000 stock
Acquisition Bonus. If the Company should acquire a “Business,” within forty-five days of the date of acquisition, it shall issue to Executive a number of shares equal in value to 2% of the purchase price to be paid in connection with the acquisition, inclusive of any debt assumed. If a portion of the purchase price is contingent, Executive shall be paid in respect of such amount only upon payment of the contingent portion. For purposes of determining the number of shares to be issued, to Executive, the shares shall be valued at the VWAP for the five (5) trading days immediately preceding the date of issuance.
