Eligible Seller definition
Examples of Eligible Seller in a sentence
The Company and each Eligible Seller submits to the exclusive jurisdiction of any state or federal court sitting in New York, New York, in any action or proceeding arising out of or relating to this Agreement and agrees that all claims in respect of the action or proceeding may be heard and determined in any such court.
Buyer shall pay to Seller on the Closing Date an amount equal to the aggregate transaction bonus amount for the Eligible Seller Employees determined under this Section 7.2(b) and Seller shall pay to each Eligible Seller Employee as soon as practicable after the Closing Date the applicable transaction bonus amount determined under this Section 7.2(b) for such Eligible Seller Employee.
No such registration will be permitted for any individual Eligible Seller if the net proceeds that would be expected to be allocable to such Eligible Seller for the maximum amount of Registrable Securities that such Eligible Seller is entitled to include in such registration is less than $100,000.
For purposes of calculating the transaction bonus for each Eligible Seller Employee, such Eligible Seller Employee shall be given credit for all service with Seller, the Company and any Subsidiary (or all service credited by Seller, the Company or a Subsidiary) to the same extent as if rendered to Buyer.
For avoidance of doubt, except for any cash transaction bonus obligations paid to Seller with respect to any Eligible Seller Employee pursuant to Section 7.2(b), Buyer and its Affiliates shall have no obligation to pay or provide, or have any Liability for, any compensation or benefits to any Retained Seller Employee.