Common use of Success Bonus Clause in Contracts

Success Bonus. Upon closing of a Transaction entered into during the Term, whether or not Executive is then an employee of the Company, Executive shall be issued 400,000 fully-vested shares of Common Stock and paid $40,000. “Transaction” means (A) a merger or consolidation of the Company or a subsidiary of the Company with another entity, or (B) the disposition by the Company of all or substantially all of the Company’s assets or the acquisition by the Company of all or substantially all of the assets of another entity; in each case with a transaction value of over $20,000,000 and approved by the Board.

Success Bonus. Upon closing of a Transaction entered into during the Term, whether or not Executive is then an employee of the Company, Executive shall be issued 400,000 200,000 fully-vested shares of Common Stock and paid $40,00020,000. “Transaction” means (A) a merger or consolidation of the Company or a subsidiary of the Company with another entity, or (B) the disposition by the Company of all or substantially all of the Company’s assets or the acquisition by the Company of all or substantially all of the assets of another entity; in each case with a transaction value of over $20,000,000 and approved by the Board.

Success Bonus. Upon closing of a Transaction entered into during the Termterm of the Original Agreement, whether or not Executive is then an employee of the Company, Executive shall be issued 400,000 200,000 fully-vested shares of Common Stock and paid $40,000. “Transaction” means (A) a merger or consolidation of the Company or a subsidiary of the Company with another entity, or (B) the disposition by the Company of all or substantially all of the Company’s assets or the acquisition by the Company of all or substantially all of the assets of another entity; in each case with a transaction value of over $20,000,000 and approved by the Board.

Success Bonus. Upon On the next payroll date following closing of a Transaction entered into during the Termterm of the Original Agreement, whether or not Executive is then an employee of the Company, Executive shall be issued 400,000 200,000 fully-vested shares of Common Stock and paid $40,00020,000. “Transaction” means (A) a merger or consolidation of the Company or a subsidiary of the Company with another entity, or (B) the disposition by the Company of all or substantially all of the Company’s assets or the acquisition by the Company of all or substantially all of the assets of another entity; in each case with a transaction value of over $20,000,000 and approved by the Board.