Asset Sale or Merger. In the event of a sale of all of the assets or a merger in which the Company is not the surviving entity and in which the Company is valued at $50,000,000 or more, Employee will be entitled to the greater of 5% of the gross proceeds of the value of the transaction or $2,500,000 in cash to be paid upon the transaction’s closing.
Appears in 4 contracts
Samples: Employment Agreement, Executive Employment Agreement (Gawk Inc.), Executive Employment Agreement (Xumanii, Inc.)
Asset Sale or Merger. In the event of a sale of all of the assets or a merger in which the Company is not the surviving entity and in which the Company is valued at $50,000,000 or more, Employee will be entitled to the greater of 50.5% of the gross proceeds of the value of the transaction or $2,500,000 250,000 in cash to be paid upon the transaction’s closing.
Appears in 3 contracts
Samples: Executive Employment Agreement (Xumanii, Inc.), Executive Employment Agreement (Xumanii, Inc.), Executive Employment Agreement (Xumanii, Inc.)
Asset Sale or Merger. In the event of a sale of all of the assets or a merger in which the Company is not the surviving entity and in which the Company is valued at $50,000,000 or more, Employee will be entitled to the greater of 5% of the gross proceeds of the value of the transaction or $2,500,000 in cash to be paid upon the transaction’s 's closing.
Appears in 1 contract
