Bonus Adjustment. The COC Bonus will be adjusted up or down based on the percentage difference between the Value of the Company (as defined below) and $1,500,000,000 (the “Current Value”). The Additional COC Bonus will be adjusted up or down based on the percentage difference between the Value of the Company and 14x TTM EBITDA for the period immediately preceding Employees vesting of the portion of the Additional COC Bonus. By way of example, if the Value of the Company increases by 10% from the Current Value, then the COC Bonus will increase by 10%. If the Value of the Company decreases from the Current Value by 10%, then the COC Bonus will decrease by 10%. The “Value of the Company” shall be the value of the Company at the time of the COC Transaction or an IPO, as the case may be.
Appears in 2 contracts
Sources: Employment Agreement (Shift4 Payments, Inc.), Employment Agreement (Shift4 Payments, Inc.)