IPO Bonus. Executive shall be eligible to receive a one-time special bonus in the amount of $400,000 in connection with the Company obtaining Qualified Public Company Status, payable within forty-five (45) days of the effective date of same. At the option of the Company, up to 50% of such bonus shall be payable in restricted MIH common stock under the Company’s 2022 Equity Incentive Plan and shall be subject to terms and conditions applicable to restricted stock awards granted thereunder and as described in the restricted stock agreement to be issued to Executive. The restricted stock shall vest 180 days following the Company obtaining Qualified Public Company Status. For the purposes of this Agreement, “Qualified Public Company Status” shall mean the common stock of MIH is registered on one or more national securities exchanges in the U.S.
Appears in 2 contracts
Sources: Employment Agreement (Miami International Holdings, Inc.), Employment Agreement (Miami International Holdings, Inc.)