Examples of Transaction Bonus Recipient in a sentence
Following the Closing, Buyer shall cause the applicable Company Group Member to pay from the Transaction Bonus Amount to each Transaction Bonus Recipient the gross amount set forth opposite such Transaction Bonus Recipient’s name on Exhibit B, on the next regular payroll period following the Closing and to withhold from such gross amount any applicable Taxes, deductions or other required withholdings (which shall be remitted the appropriate Tax Authority in the ordinary course of business).
The portion of the Escrow Amount to be withheld from each Shareholder, Optionholder or Transaction Bonus Recipient shall be based upon the Shareholder, Optionholder or Transaction Bonus Recipient’s applicable Escrow Percentage.
No later than three Business Days prior to the scheduled Closing Date, the Company shall prepare and deliver to Parent a schedule (the “Transaction Bonus Recipient Schedule”) setting for the name of each Transaction Bonus Recipient and the amount of Transaction Bonuses that will be payable to each such Transaction Bonus Recipient in connection with the Merger.
For the avoidance of doubt, if any portion of the Total Transaction Bonus Amount is forfeited by any Transaction Bonus Recipient prior to Closing, such forfeited portion shall not be deemed a Non-Ordinary Course Liability and shall not reduce the Purchase Price.
The Expense Fund Amount as contemplated herein shall reflect a proportionate contribution from each Non-Dissenting Stockholder, each holder of a Company Option (other than an Underwater Option) and each Transaction Bonus Recipient in an amount equal to such Person’s Specified Pro Rata Share of such amount.