IPO Bonus. Executive shall be entitled to a special bonus upon the completion of an IPO (“IPO Bonus”). The IPO Bonus shall be equal to $90,000. The IPO Bonus, if any, will not be deemed “earned” until the date that that the IPO is completed. Accordingly, Executive must be employed by the Company on the date that the IPO is completed in order to be eligible for any such payment. Payment of the IPO Bonus will be made on the first regularly scheduled payroll date that follows the completion of the IPO.
Appears in 3 contracts
Sources: Executive Employment Agreement (BioXcel Therapeutics, Inc.), Executive Employment Agreement (BioXcel Therapeutics, Inc.), Executive Employment Agreement (BioXcel Therapeutics, Inc.)