Success Fee Sample Clauses
A Success Fee clause defines a payment that becomes due only if a specific outcome or milestone is achieved, typically in addition to a base fee. In practice, this clause is often used in professional services agreements, such as with consultants or legal advisors, where the service provider receives an extra payment if they deliver a successful result, like winning a case or closing a deal. The core function of this clause is to incentivize performance and align the interests of the service provider with those of the client by tying compensation to measurable success.
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Success Fee. If at any time while you are serving as Chief Medical Officer pursuant to that certain Employment Agreement dated on even date herewith (the “Employment Agreement”) (or during the six (6) month period after termination of your service as Chief Medical Officer if such service shall have been terminated without Cause (as defined in the Employment Agreement)) and prior to the Success Fee Expiration Date (defined below), a Covered Transaction (as defined in the Employment Agreement) that either (a) meets the Price Minimum (defined below) or (b) for which the Ambit board of directors (the “Board”) has waived the Price Minimum, shall have been consummated, you shall be eligible to receive, subject to the terms of this letter agreement, a payment (the “Success Fee”) in an amount equal to your Vested Equity Percentage Interest (defined below) multiplied by the Aggregate Gross Proceeds (defined below) actually paid or distributed pursuant to such Covered Transaction to Ambit’s stockholders and holders of options, warrants or other rights to Preferred Stock or Common Stock by reason of their ownership thereof and/or paid or distributed directly to Ambit. Notwithstanding the foregoing, however, the amount of any Success Fee payable to you shall be reduced dollar-for-dollar by any Aggregate Gross Proceeds actually paid to you pursuant to such Covered Transaction by reason of your equity position in Ambit, whether by common stock ownership, the exercise or cash-out of stock options or otherwise. In no event will the Success Fee be payable with respect to any Covered Transaction other than the first Covered Transaction that occurs following the date of this letter agreement.
Success Fee. In all CFA cases we take the risk that we will not win and so will not get paid for any of the work we do. As such, we are entitled to charge you a success fee if you win. The success fee also takes into account the fact that we do not get paid for the work that we do until the end of the case and will be funding expenses and disbursements for you (things such as experts’ fees) up front throughout the case so that you do not have to pay for them. The success fee is calculated as a percentage of our fees (and not of your damages). The exact percentage will depend on the nature of the case and we will advise you of this when we send you the CFA to sign. Because this comes out of your damages, we will agree that we will never take more than a certain percentage of the damages that you recover. You are therefore guaranteed to retain the majority of your damages.
Success Fee. Upon a Liquidity Event or Change in Control, a one- time fee equal to $150,000. This Section 2.5(d) shall survive any termination of this Agreement.
Success Fee. Upon a Success Fee Event, Borrower shall pay to Bank a one-time fee of $500,000 (the “Success Fee”). This Section 2.5(b) shall survive any termination of this Agreement. If this Agreement is terminated prior to payment of the Success Fee, Borrower shall give Bank written notice of the first Success Fee Event to occur thereafter and pay the Success Fee upon the consummation of such Success Fee Event.
Success Fee. For each Haul Away Asset, Success Fee equals 12.5% of Winning Bid.
Success Fee. 6.1 In the event that Licensee becomes subject to a Liquidation Event or Initial Public Offering (as defined in Exhibit E), Licensee shall pay Licensor a Success Fee at a Success Fee Rate of 0.95%, which shall be calculated in accordance to Exhibit E. Success Fee shall be paid to the Licensor, each time the License Agreement is assigned to another qualifying entity for the duration of this Agreement.
Success Fee. Purchaser shall be entitled to receive a success fee (if any) payable in cash equal to the product of the fixed percentage rate of 2.50% (i.e. a 5.00% jointly percentage rate under the two sale and purchase agreements executed on the date hereof by the Purchaser) multiplied by the amount of the cash proceeds actually paid in respect of an investment into the Company by Purchaser pursuant to this Agreement (such fee, the “Success Fee”).
Success Fee. Upon the occurrence of a Liquidity Event, Licensee shall pay Rice a Success Fee of US $700,000.00 (SEVEN HUNDRED THOUSAND US DOLLARS) dollars due within 5 business days of the Liquidity Event.
Success Fee. Upon the first to occur of: (i) the closing date of SF's proposed Exchange Offer for its Senior Notes or (ii) the emergence of the Company from a chapter 11 bankruptcy (the first to occur of (i) or (ii), a "Triggering Event"), the Company shall pay Executive a lump sum cash payment of $250,000 within ten (10) business days.
Success Fee. In consideration of Bank’s agreement to enter into this Amendment, and in addition to, and not in substitution for, any other fees set forth in the Loan Documents including without limitation the Success Fee set forth in that certain Seventh Amendment to Loan and Security Agreement between Borrower and Bank dated February 24, 2017 (the “Seventh Amendment”), Borrower shall pay to Bank a fully earned, non-refundable success fee (the “Second Success Fee”) of One Hundred Thousand Dollars ($100,000) which shall be payable upon a Success Fee Trigger Event (as defined in the Seventh Amendment). Notwithstanding the foregoing, if Borrower receives, prior to May 31, 2017, gross proceeds from convertible debt or additional equity of at least Twenty Million Dollars ($20,000,000), then the Second Success Fee shall be reduced to Fifty Thousand Dollars ($50,000). Borrower hereby acknowledges and agrees that if the Obligations are paid in full and the Loan Agreement is terminated, this Section 2.3 and Borrower’s obligation to pay the Second Success Fee hereunder shall survive and continue. If the Loan Agreement is terminated prior to payment of the Second Success Fee, Bank shall continue to have such right in perpetuity, until paid. Borrower shall notify Bank of the occurrence of any Success Fee Trigger Event promptly upon the occurrence thereof.