One-Time Bonus Payment definition
One-Time Bonus Payment means the conditional one-time bonus payment to be ---------------------- paid by Astarte to certain Astarte Employees upon the sale of Astarte (whether pursuant to a memorandum from ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ dated on or about January 20, 2000 or otherwise) equal to the excess, if any, of $50,000 over the value of such Astarte Employee's Astarte Options, effective as of the date of such sale.
Examples of One-Time Bonus Payment in a sentence
On or prior to the Closing, Astarte shall use its commercially reasonable efforts to obtain written releases signed by all of such Astarte Employees who are entitled to a One-Time Bonus Payment, which releases shall state that Astarte has discharged in full its obligations with respect to any such payment.