Liquidity Event Bonus Sample Clauses

Liquidity Event Bonus. Upon the first to occur following the date hereof and during the term of your employment under this Agreement of (y) a Change in Control in which the Company’s Enterprise Value is at least $125 million (a “Qualified Change in Control”) or (z) a Public Listing (the first of such events to occur, a “Qualified Liquidity Event”) you shall be entitled to the benefits provided under either Section 3(a)(i) or 3(a)(ii), as applicable, without duplication:
Sample 1Sample 2
AutoNDA by SimpleDocs
Liquidity Event Bonus. (i) In the event of a transaction during the Employment Period resulting in a Change of Control (as defined below) of the Company (a “Liquidity Event”), the Executive shall be entitled to a bonus equal to 1.0% of the Net Proceeds (as defined below) actually received by the stockholders of the Company in connection with such Liquidity Event with respect to their capital stock in the Company (the “Liquidity Event Bonus”). The Liquidity Event Bonus will be paid in the same consideration as, and to the extent (if the transaction is a mix of cash and other consideration) received by the holders of shares of common stock of the Company. The Liquidity Event Bonus shall be in addition to any rights that Employee shall have by reason of the Liquidity Event with respect to any equity ownership or other rights to equity ownership he may hold in the Company. For the purposes of this Agreement, “
Sample 1Sample 2
Liquidity Event Bonus. (a)Upon the occurrence of a Liquidity Event (i) during the Employment Term or (ii) within 90 days of the Termination Date (unless Executive’s employment is terminated for Cause (as defined in that certain Limited Liability Company Agreement of Authentic Brands LLC, effective as of July 19, 2018)), Executive shall receive a bonus (the “Liquidity Event Bonus”) in an amount equal to the product of (i) the Net Proceeds from such Liquidity Event transaction and (ii) the Liquidity Event Bonus Percentage; provided, however, that Executive shall not receive any Liquidity Event Bonus if either the Liquidity Event Target Amount is not achieved or the Liquidity Event occurs after the Liquidity Event End Date. The determination of the Liquidity Event Bonus and all calculations associated therewith shall be made in good faith by the Board in its reasonable discretion in accordance with this Agreement and shall be final, binding and conclusive. ​
Sample 1Sample 2
Liquidity Event Bonus. (i) The Executive shall receive a one-time cash bonus (the “Liquidity Event Bonus”) upon the occurrence of a Bonus Liquidity Event which results in a cash return to the Investors in respect of Investor Equity, after taking into account the Pre-Event Investor Cash Return, equal to or in excess of one and one-half times the Investment and less than three times the Investment, in accordance with the following schedule: Investor Return Liquidity Event Bonus Amount At least 1.5x Investment but less than 2.0x Investment $5.0 million At least 2.0x Investment but less than 2.5x Investment $7.5 million At least 2.5x Investment but less than 3.0x Investment $10 million 3x Investment or above $0
Sample 1
Liquidity Event Bonus. In the event of a transaction during the Employment Period resulting in a Change of Control (as defined below) of the Company (a “Liquidity Event”), the Executive shall be entitled to a bonus equal to 1.0% of the Net Proceeds (as defined below) actually received by the members of the Company in connection with such Liquidity Event with respect to their membership interests in the Company (the “Liquidity Event Bonus”). The Liquidity Event Bonus will be paid in the same consideration as, and to the extent (if the transaction is a mix of cash and other consideration) received by the holders of Common Units. The Liquidity Event Bonus shall be in addition to any rights that Employee shall have by reason of the Liquidity Event with respect to any equity ownership or other rights to equity ownership he may hold in the Company. For the purposes of this Agreement, “Net Proceeds” means the total value of all consideration actually received by the members of the Company with respect to a Liquidity Event, less investment banking fees and other transaction costs incurred by the Company in connection with the Liquidity Event. In the event that any of the consideration received by the members of Reliant is paid into escrow or is a contingent payment, the Executive shall be paid his Liquidity Event Bonus in respect of such escrowed or contingent payments at the time that such payments are received by the other members (or former members) of the Company.
Sample 1
Liquidity Event Bonus. If a Liquidity Event occurs during the Term and, in connection therewith all other obligations of the Employer and its subsidiaries are either assumed by the purchaser or satisfied from the proceeds of the Liquidity Event, then the Executive shall be entitled to a Liquidity Event Bonus of up to $1 million from the cash proceeds remaining after taxes (the "Net Proceeds") for distribution on account of the outstanding equity of Employer or to the former equity holders of Employer. If the cash Net Proceeds available to the shareholders of Employer as a result of a Liquidity Event exceed $20 million, then the Executive shall be entitled to an additional Liquidity Event Bonus equal to 10% of the amount by which the cash Net Proceeds available to such shareholders exceed $20 million. The Executive shall be entitled to a Liquidity Event Bonus only if he is employed directly by Employer at the time of consummation of the Liquidation Event. Nothing in this paragraph shall limit the right of the Employer or any shareholder to sell any portion of the assets or equity of the Employer or entitle the Executive to any bonus in the event of any such sale that does not constitute a Liquidation Event. Nothing in this paragraph or elsewhere in this Agreement shall create in the Executive an entitlement to employment with the Employer or otherwise create any relationship between the Executive and the Employer other than an employment-at-will employment relationship.
Sample 1

Related to Liquidity Event Bonus

  • Special Bonus In addition to the Annual Base Salary and Annual Bonus payable as hereinabove provided, if the Executive remains employed with the Company or its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the Highest Annual Bonus. The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

  • Change in Control Bonus “Change in Control Bonus” has the meaning set forth in Section 5a(iii)(1).

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Bonus Amount For purposes of this Agreement, "Bonus Amount" shall mean the greater of (a) the target annual bonus payable to the Executive under the Incentive Plan in respect of the fiscal year during which the Termination Date occurs or (b) the highest annual bonus paid or payable under the Incentive Plan in respect of any of the three full fiscal years ended prior to the Termination Date or, if greater, the three (3) full fiscal years ended prior to the Change in Control.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Change in Control Vesting The shares of Common Stock underlying each Tranche of Performance Shares may also vest on an accelerated basis in accordance with the applicable provisions of Paragraph 4 of this Agreement should a Change in Control occur after the start but prior to the completion of the Performance Period applicable to that particular Tranche or the Certification Date. Issuance Date: The shares of Common Stock which actually vest and become issuable pursuant to each Tranche of Performance Shares shall be issued in accordance with the provisions of this Agreement applicable to the particular circumstances under which such vesting occurs.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Initial Equity Award Upon or as soon as practicable after the Effective Date, the Company will award Executive restricted stock units and stock options to purchase shares of the Company’s common stock, with an aggregate grant date fair market value as determined by the Board for accounting purposes of $1,200,000. Such restricted stock units or stock options, as applicable, to vest ratably over 4 years (25% each year). Allocation between restricted stock units and stock options to be determined by the Board.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!