Realization Bonus. (i) In the event during the Term of this Agreement the Company enters into either a out-license agreement for any of its technology that grants exclusive marketing rights to a third party (and the license fees the Company contracts to receive (disregarding any contingencies to such payment) equals or exceeds $50 million) or enters into a joint venture in which the Company contributes such rights to the joint venture, in each case where the Enterprise Value (defined below) equals or exceeds the minimum value of $250 million, the Company shall accrue a bonus determined by multiplying the Enterprise Value (defined below) in the case of a joint venture or the sum of the license fees actually received in the case of an out license, as the case may be, by 0.5% (one half percent).
Appears in 4 contracts
Samples: Executive Employment Agreement (Synergy Pharmaceuticals, Inc.), Executive Employment Agreement (Synergy Pharmaceuticals, Inc.), Executive Employment Agreement (Synergy Pharmaceuticals, Inc.)
Realization Bonus. (i) In the event during the Term of this Agreement the Company enters into either a out-license agreement for any of its technology that grants exclusive marketing rights to a third party (and the license fees the Company contracts to receive (disregarding any contingencies to such payment) equals or exceeds $50 million) or enters into a joint venture in which the Company contributes such rights to the joint venture, in each case where the Enterprise Value (defined below) equals or exceeds the minimum value of $250 million, the Company Consultant shall accrue a bonus in an amount determined by multiplying the Enterprise Value (defined below) in the case of a joint venture or the sum of the license fees actually received received, in the case of an out out-license, as the case may be, by 0.5% (one half percent).
Appears in 2 contracts
Samples: Consulting Agreement (Synergy Pharmaceuticals, Inc.), Consulting Agreement (Synergy Pharmaceuticals, Inc.)
Realization Bonus. (i) In the event during the Term of this Agreement the Company enters into either a out-license agreement for any of its technology that grants exclusive marketing rights to a third party (and the license fees the Company contracts to receive (disregarding any contingencies to such payment) equals or exceeds $50 million) or enters into a joint venture in which the Company contributes such rights to the joint venture, in each case where the Enterprise Value (defined below) equals or exceeds the minimum value of $250 million, the Company shall accrue a bonus determined by multiplying the Enterprise Value (defined below) in the case of a joint venture or the sum of the license fees actually received in the case of an out license, as the case may be, by 0.50.2% (one half fifth of one percent).
Appears in 2 contracts
Samples: Executive Employment Agreement (Synergy Pharmaceuticals, Inc.), Executive Employment Agreement (Synergy Pharmaceuticals, Inc.)