Common use of Payment of the Earnout Share Clause in Contracts

Payment of the Earnout Share. Within five (5) days of Axial receiving any Earnout Payment pursuant to the Purchase Agreement, Axial shall pay the Employee the applicable Earnout Share to which Employee is entitled hereunder. Subject to Section 2(c) below, in the event that any Earnout Payment is due to Axial pursuant to the Purchase Agreement but is reduced pursuant to Section 1.06(b) of the Purchase Agreement, Axial shall pay the Employee an amount equal to the Earnout Share as if such reduction of the applicable Earnout Payment had not occurred and was received by Axial.