Acquisition Bonuses Sample Clauses
The Acquisition Bonuses clause defines the terms under which certain individuals or groups receive additional compensation upon the successful acquisition of a company or its assets. Typically, this clause outlines eligibility criteria, the calculation method for the bonus, and the timing of payment, such as awarding a percentage of the acquisition price to key executives or employees. Its core function is to incentivize and reward those who contribute to a successful acquisition, aligning their interests with the transaction's completion and ensuring retention and motivation during the process.
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Acquisition Bonuses. (a) Upon execution of this Agreement, ACT shall grant to Executive, and Executive shall receive, 50,000,000 shares of ACT's restricted common stock, priced at $.01 per share, of which (i) 12,500,000 shares will fully vest on July 1, 2005, and (ii) 37,500,000 shares will fully vest on July 1, 2006 (together, the "ACT Shares"); provided, as to each vesting tranch, that Executive is then employed by the Company; and provided further that the number of ACT Shares shall be adjusted accordingly for stock splits, reverse stock splits and other recapitalizations effected by ACT. Notwithstanding the foregoing, in the event Executive's employment with the Company is terminated by the Company without "cause" prior to the expiration of the Initial Employment Period, a pro-rata amount of otherwise unvested ACT Shares, based on the number of days elapsed during the applicable fiscal year, shall become fully vested and payable by the Company.
(b) Within five (5) business days after the later to occur of (i) the consummation of the transaction contemplated by that certain Asset Purchase Agreement, dated May 27, 2004, by and between Cyber-Test, Inc., a Delaware corporation, and Cyber-Test, Inc. a Florida corporation, and (ii) the consummation of the transaction contemplated by that certain Agreement, dated May 27, 2004, by and among Encompass and HYTT, the Company shall pay to Executive $15,000 in cash.
(c) Within five (5) business days after the later to occur of (i) the consummation of a merger with Pacific Magtron International Corp., and (ii) the consummation of the acquisition of assets by the Company or an affiliate thereof of the assets of BCD 2000, Inc., the Company shall pay to Executive $15,000 in cash.
Acquisition Bonuses. The Company shall pay the Executive a bonus of $150,000 in Shares (25,000,000 Shares based on the Share Price), for each of the following acquisitions previously completed by the Company: (a) the acquisition of DeskFlex; (b) the acquisition of PRM; (c) the acquisition of AutoHire; (d) the acquisition of Intellisys; and (e) the acquisition of K9 Bytes; (a total of $750,000 or 125,000,000 Shares)(the “First Acquisition Shares”); and a bonus of $200,000 or 33,333,333 Shares (the “Second Acquisition Shares” and together with the First Acquisition Shares, the “Acquisition Shares”) in connection with the Company’s acquisition of MsHealth. The Acquisition Shares shall be issued to Executive on the Effective Date and considered earned and vested on the Vesting Date. Executive shall also be eligible to earn an additional $200,000 bonus (33,333,333 Shares) in the event the Company completes a future acquisition with a total value of at least $200,000 during the Term of the Agreement (a “Future Acquisition” and the “Future Acquisition Shares”), provided that the Future Acquisition Shares shall be issued to Executive on the Effective Date and considered earned and vested on the date that both the Vesting Date has occurred and the completion of such Future Acquisition has occurred
Acquisition Bonuses. (a) Upon execution of the Original Agreement, ACT granted to Executive, and Executive shall receive, 50,000,000 shares of ACT's restricted common stock, priced at $.01 per share, of which (i) 12,500,000 shares will fully vest on July 1, 2005, and (ii) 37,500,000 shares will fully vest on July 1, 2006 (together, the "ACT Shares"); provided, as to each vesting traunch, that Executive is then employed by the Company; and provided further that the number of ACT Shares shall be adjusted accordingly for stock splits, reverse stock splits and other recapitalizations effected by ACT. Notwithstanding the foregoing, in the event Executive's employment with the Company is terminated by the Company without "cause" prior to the expiration of the Initial Employment Period, a pro-rata amount of otherwise unvested ACT Shares, based on the number of days elapsed during the applicable fiscal year, shall become fully vested and payable by the Company.
(b) Within five (5) business days after the consummation of the transaction contemplated by that certain Agreement, dated May 27, 2004, by and among Encompass and HYTT, Encompass paid to Executive $15,000 in cash.
(c) Within five (5) business days after the later to occur of (i) the consummation of the acquisition of a majority of the outstanding stock of Pacific Magtron International Corp., Encompass paid to Executive $15,000 in cash.
Acquisition Bonuses. Sellers shall pay directly any bonuses to be paid to employees of the US Company in connection with completion of the transaction contemplated by this Agreement and shall hold Buyers and US Company harmless from and indemnify Buyers and US Company with respect to any Damages related to such bonuses (including, without limitation, failure of Sellers to pay such bonuses).
Acquisition Bonuses. Employee shall be incentivized to grow the business both organically as well as through strategic acquisitions. A bonus based on the following schedule shall be paid to the employee at closing of an acquisition:
Acquisition Bonuses. 3.4.2.1 In addition to the sums described above, Company shall also pay Employee an amount equal to 2.5% of the total consideration paid by Company, Decor, Interiors, Inc., a Delaware corporation, or any affiliate of them (the "Group"), in connection with an acquisition by the group of an unrelated third party introduced to the Group by Employee. The compensation payable under this Section 3.4.2.1 shall be paid concurrently with the consummation of the acquisition to which such compensation relates.
3.4.2.2 In addition to the sums described above, Company shall also pay Employee an amount equal to 1% of the total consideration paid by the Group in connection with an acquisition by the Group of an unrelated third party (other than a party introduced to the Group by Employee), where the Group has asked Employee to take a material and substantial part in analyzing, negotiating, documenting or closing the acquisition. The compensation payable under this Section 3.4.2.2 shall be paid concurrently with the consummation of the acquisition to which such compensation relates.
Acquisition Bonuses. The Executive shall be eligible to receive bonus for acquisitions of entities related to the Company’s business. The board has established a target of 5% to 15% of acquisition value.