Level Two Earnout Payments Sample Clauses

Level Two Earnout Payments. An additional amount equal to $1,000,000 of the Earnout Payments shall be due and payable to the Sellers on achieving the following Revenue and EBITDA targets over each and any of the three Earnout Years following the Closing: (i) Tier 4. Revenue of $11.0 million and EBITDA of $1.8 million—Earnout Payment of an additional $333,334; (ii) Tier 5. Revenue of $12.0 million and EBITDA of $2.0 million—Earnout Payment of an additional $333,333, for a total of an additional $666,667; and (iii) Tier 6. Revenue of $13.0 million and EBITDA of $2.2 million—Earnout Payment of an additional $333,333, for a total of an additional $1,000,000.