SALE BONUS RELEASE AGREEMENTSale Bonus Release Agreement • April 18th, 2022 • Alj Regional Holdings Inc • Services-business services, nec • Delaware
You hereby acknowledge and agree that, in connection with the closing of the transactions (the “Transactions”) contemplated by that certain stock purchase agreement dated as of February 3, 2022 by and among the Company, Phoenix Color Corp. and LSC Communications Book LLC, the Company shall pay you a bonus payment in the amount of $1,563,538, which amount shall be subject to applicable federal, state, and local tax and other withholdings (the “Sale Bonus”). You acknowledge and agree that the Sale Bonus is in full settlement and satisfaction of your rights to any and all amounts that may be owed to you as of the date hereof under Section 3 of Appendix A to the Employment Agreement (whether amounts due pursuant to Section 3 are in respect of the Transactions or other transactions that may have occurred before the closing of the Transactions (the “Section 3 Amounts”). Upon the payment of the Sale Bonus, you shall have no further claim or entitlement to any future payment or settlement with
SALE BONUS RELEASE AGREEMENTSale Bonus Release Agreement • April 14th, 2022 • Alj Regional Holdings Inc • Services-business services, nec • Delaware
You hereby acknowledge and agree that, in connection with the closing of the transactions (the “Transactions”) contemplated by that certain stock purchase agreement dated as of February 3, 2022 by and among the Company, Phoenix and LSC Communications Book LLC, the Company is paying you a bonus payment in the amount of $1,700,000, which amount shall be subject to applicable federal, state, and local tax and other withholdings (the “Sale Bonus”). You agree that the Sale Bonus is in full settlement and satisfaction of your rights under Section 3.5 of the Employment Agreement, and that upon making of the payment of the Sale Bonus you shall have no further claim or entitlement to any future payment or settlement with respect to the Sale Bonus. In addition, you acknowledge and agree that the Transactions will not result in an acceleration of your bonus under Section 3.3 of the Employment Agreement (the “Bonus Acceleration”), and you will be eligible to earn your full bonus under Section 3.3
