Employee Bonus Pool. At the Closing, $800,000 of the Consideration shall not be paid to Xxxx Xxxxxx but shall instead be placed in a separate Flotek bank account (or with respect to non-cash Consideration, in such form as Xxxxxx shall direct), the disbursement of which shall be governed by a Bonus Pool Agreement substantially identical in form to Exhibit 1.4. Flotek and Xxxx Xxxxxx shall enter into such Bonus Pool Agreement at the Closing, and shall mutually agree regarding the form of the Consideration subject to the Bonus Pool Agreement.
Employee Bonus Pool. 40 ARTICLE VII. CONDITIONS TO EACH PARTY'S OBLIGATION TO CLOSE . . . . . . . . . . . . . 40 7.01
Employee Bonus Pool. Parent agrees to make an additional payment of up to Two Million Dollars ($2,000,000) in the aggregate to the employees named (“Bonus Eligible Employees”) and in the percentages (each, a “Bonus Percentage”) set forth on Exhibit J, as further set forth and subject to the limitations provided in this Section 5.22; provided that, in the event the employment of any Bonus Eligible Employee has terminated prior to Closing, the Company may provide Parent a revised Exhibit J not less than two (2) Business Days prior to the anticipated Closing Date which reflects the then current list of Bonus Eligible Employees and each such employee’s Bonus Percentage. No later than five (5) Business Days after final determination of the total Deferred Merger Consideration as set forth in Section 2.2 (“Bonus Measurement Date”), Parent shall pay an amount equal to the product of (a) $2,000,000 multiplied by (b) the quotient of (i) the total Deferred Merger Consideration divided by (ii) the Maximum Deferred Merger Consideration (the “Employee Bonus Pool”), to the Bonus Eligible Employees in accordance with their respective Bonus Percentage. In the event that any Bonus Eligible Employee Voluntarily Resigns or is terminated by the Company prior to the Bonus Measurement Date, (A) such employee shall no longer be a Bonus Eligible Employee and shall not have any rights to any portion of the Employee Bonus Pool and (B) such employee’s Bonus Percentage shall be forfeited to Parent.
Employee Bonus Pool. Subject to and following the consummation of the Merger, Acquirer shall set aside an aggregate of $1.5 million (the “Employee Bonus Pool”) to establish an employee bonus program to be offered to certain employees of the Company who become employees of Acquirer following the Closing. Acquirer will determine, in consultation with the Company, the structure of such employee bonus program and the allocation of the Employee Bonus Pool. All bonus payments made pursuant to this Section 6.15 shall be subject to the collection of all applicable federal and state income and employment withholding taxes.
Employee Bonus Pool. As an incentive to MSI employees to manufacture Products in accordance with the respective Product Specifications, the Company agrees to pay to MSI each month during the Manufacturing Transition Period for creation of an employee bonus pool (the "Bonus Pool") an amount equal to three dollars ($3.00) per unit of Product manufactured by MSI in accordance with the respective Product Specifications, as determined by the Company upon receipt and inspection of the units. MSI agrees to set up the Bonus Pool, to deposit all amounts paid by Conceptus pursuant to this Section D in the Bonus Pool and to distribute the entire Bonus Pool pro rata to its production employees listed on EXHIBIT E.
Employee Bonus Pool. At the Second Closing, Purchaser shall -------------------- make available a pool of 700,000 shares of Purchaser Stock in a non-statutory stock option plan for the benefit of certain employees of the Cotton Group Entities designated by the Sellers, with an exercise price not to exceed an amount per share equal to (a) the Market Price of the Purchaser Stock on the Closing Date, less the lesser of (i) $2.50 or (ii) 30% of the Market Price. ----
Employee Bonus Pool. At the Closing, Parent shall distribute the Employee Bonus Pool to the Employees identified on Schedule 5.21 hereto (less applicable withholding Taxes) in accordance with the allocation set forth thereon.
Employee Bonus Pool. Purchaser acknowledges and agrees that Company may, in its discretion, pay employee bonuses prior to the Closing Date using Company's $200,000 reserve established for such purpose.
Employee Bonus Pool. At the Closing, Copano will fund the Employee Bonus Pool to the Partnership and immediately following the Closing, Copano shall cause the Partnership to distribute the Employee Bonus Pool to those employees of the Partnership or the Contributors, as applicable, and in the amounts, identified on Schedule 3.5 attached hereto; provided, however, that, the distribution of such amounts to such employees shall be net of all applicable Tax and employment withholding requirements; and provided, further, however, that as a condition of receiving his or her respective amount of the Employee Bonus Pool identified on Schedule 3.5, net of applicable Tax and employment withholding requirements, each employee identified on Schedule 3.5 shall be required to execute a form of release reasonably acceptable to Copano and the Contributors releasing Copano, the Partnership, the Contributors, and their respective Affiliates and Subsidiaries from and against all claims to bonus, profit sharing, equity participation and similar interests in the Partnership, the Subsidiaries, and their respective Affiliates.
Employee Bonus Pool. Acquiror shall make payments to the employees of the Company in the amounts set forth next to their names in SCHEDULE 6.18 ("Employee Bonus") within a reasonable time following the Closing, but no later than sixty (60) days following the Closing. The aggregate amount of all Employee Bonuses paid shall not exceed $225,000. These Employee Bonuses shall be accrued by the Company at the date of Closing.
