Option Termination Payment Clause Samples

Option Termination Payment. At the Effective Time, Autobytel shall pay to Target, on behalf of the Terminating Optionees, by wire transfer to an account designated by Target no later that two (2) days prior to the Closing Date cash in an amount equal to the Option Termination Payment, and Target shall promptly deliver to each Terminating Optionee, less any amounts required to be withheld in accordance with applicable law, that portion of the Option Termination Payment set forth opposite his or her name on Schedule 2.6(d).