Common use of Profit Participation Clause in Contracts

Profit Participation. In consideration for the Option, upon each sale of the Optioned Shares by the Optionee (or its Affiliate, as defined below) to a Person which is not an Affiliate of the Optionee, (each such sale referred to herein as a “Final Sale”), the Optionee shall pay to the Optionor an amount equal to 50% of the difference between the amount realized in the Final Sale (the aggregate sales price less any commissions payable as a result of the Final Sale to a Person who is not an Affiliate of the Optionee) and the aggregate Purchase Price. The Optionee (or its Affiliate) shall determine, in its sole discretion whether, when, and at what price, to sell the Optioned Shares; provided however, Optionee shall consult with Optionor, with respect to any prospective sale of the Optioned Shares prior to such sale. Further provided, Optionee shall give Optionor prompt notice (next business day) of such Final Sale, and shall promptly remit (one day following Optionee’s receipt of sale proceeds) the amount of the sales proceeds due Optionor by virtue of any such Final Sale, along with a detailed written accounting therefor which shows in reasonable detail all calculations used to determine the amount due to Optionor.

Profit Participation. In consideration for the Option, upon each sale of the Optioned Shares by the Optionee (or its Affiliate, as defined below) to a Person which is not an Affiliate of the Optionee, (each such sale referred to herein as a “"Final Sale”"), the Optionee shall pay to the Optionor an amount equal to 50% of the difference between the amount realized in the Final Sale (the aggregate sales price less any commissions payable as a result of the Final Sale to a Person who is not an Affiliate of the Optionee) and the aggregate Purchase Price. The Optionee (or its Affiliate) shall determine, in its sole discretion whether, when, and at what price, to sell the Optioned Shares; provided however, Optionee shall consult with Optionor, with respect to any prospective sale of the Optioned Shares prior to such sale. Further provided, Optionee shall give Optionor prompt notice (next business day) of such Final Sale, and shall promptly remit (one day following Optionee’s 's receipt of sale proceeds) the amount of the sales proceeds due Optionor by virtue of any such Final Sale, along with a detailed written accounting therefor which shows in reasonable detail all calculations used to determine the amount due to Optionor.