Common use of Additional Bonus Clause in Contracts

Additional Bonus. (a) As additional consideration for the purchase of the Purchased Interests, Sellers may be entitled to receive a bonus payment (the “Bonus Payments”), in accordance with the following: (i) For the calendar year ending December 31, 2023, Sellers shall be entitled to receive a bonus equal to fifteen percent (15%) of Company EBITDA in excess of one hundred ten percent (110%) of the 2023 EBITDA Target as described in Section 2.5(a)(i)(2). The bonus shall be payable one-half in Buyer Shares and one-half in cash.. (ii) For the calendar year ending December 31, 2024, Sellers shall be entitled to receive a bonus equal to fifteen percent (15%) of Company EBITDA in excess of one hundred ten percent (110%) of the 2024 EBITDA Target as described in Section 2.5(a)(ii)(2). The bonus shall be payable one-half in Buyer Shares and one-half in cash.. (iii) For the calendar year ending December 31, 2025, Sellers shall be entitled to receive a bonus equal to fifteen percent (15%) of Company EBITDA in excess of one hundred ten percent (110%) of the 2025 EBITDA Target as described in Section 2.5(a)(iii)(2). The bonus shall be payable one-half in Buyer Shares and one-half in cash.. (b) Each Bonus Payment shall be calculated in accordance with the provisions set forth in Section 2.5(c)-(f). At the sole discretion of Buyer, Bonus Payment may be in cash or Buyer Shares.