CALCULATION OF DEFERRED PAYMENTS Sample Clauses

CALCULATION OF DEFERRED PAYMENTS. 3.1 The Deferred Payment due on each anniversary of Completion shall be the Relevant Percentage of the number of Consideration Shares credited as fully paid and equating to the Deferred Payment Maximum. For the purposes of this paragraph 3.1 the Relevant Percentage shall be determined by reference to the Relevant Turnover for the relevant calendar year ending 30 June and the following table: Calendar Year Relevant Turnover Relevant Percentage of the Deferred Payments Maximum Year ending 30 June 2009 £0 - £1,000,000 10 % £1,000,001 - £2,350,000 35 % >£2,350,000 60 % Year ending 30 June 2010 £250,000 - £1,500,000 10 % £1,500,001 -£3,500,000 35 % >£3,500,000 60 % Year ending 30 June 2011 £500,000 - £2,500,000 10 % £2,500,001 - £4,750,000 35 % >£4,750,000 60 %
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