Contingent Incentive definition
Examples of Contingent Incentive in a sentence
The First Contingent Incentive Payment shall be delivered immediately upon calculation of any adjustment pursuant to §8.3(ii) or (iii) below, but in no event later than thirty days following the first anniversary of the Effective Date.
If this Agreement is terminated by Caneum for Cause, as defined herein, before the date of the First or Second Contingent Incentive Payment, any unpaid Incentive Payment or Payments shall be forfeited by the Consultant and Caneum shall have no obligation to issue or deliver to Consultant any of shares of Caneum common stock for any Contingent Incentive Payment payable subsequent to such termination.
The Second Contingent Incentive Payment shall be delivered immediately upon calculation of any adjustment pursuant to §8.3(ii) or (iii) below, but in no event later than thirty days following the second anniversary of the Effective Date.
In the event that Caneum or Continuum is subject to a Change of Control, as defined below, after the date of this Agreement and prior to the date of the First or Second Contingent Incentive Payment, and the surviving entity does not assume this Agreements, then, subject to any adjustments made pursuant to this §8.3, any unpaid Incentive Payment shall be paid to the Consultant three days prior to the applicable Change of Control.
On or before the close of each calendar quarter after the Effective Date through the date of the Second Contingent Incentive Payment, the Consultant shall cause Continuum to submit to Caneum a list of any new customers developed by Continuum to be added to the Customer List, which addition shall be effective on the first day of the calendar quarter following such submission.
All advances of up to $10 million of any deficiencies to Owner pursuant to this Section 4.02 B shall become "Contingent Incentive Management Fees." Such cancellation, however, shall not affect the right of Owner, as to subsequent Fiscal Years to which Section 4.02 A applies, to again elect to terminate this Agreement pursuant to the provisions of Section 4.02 A (which subsequent election shall again be subject to Management Company's rights under this Section 4.02 B).
In the event that Caneum or Continuum is subject to a Change of Control, as defined below, after the date of this Agreement and prior to the date of the First or Second Contingent Incentive Payment, and the surviving entity does not assume this Agreements, then, subject to any adjustments made pursuant to this §5(b), all unpaid Incentive Payment shall be paid to the Contractor three days prior to the applicable Change of Control.
On or before the close of each calendar quarter after the Effective Date through the date of the Second Contingent Incentive Payment, the Contractor shall cause Continuum to submit to Caneum a list of any new customers developed by Continuum to be added to the Customer List, which addition shall be effective on the first day of the calendar quarter following such submission.
As of the Effective Time, the value of each Contingent Incentive Award shall be (i) determined using a price per share of Company Common Stock of $40 and (ii) otherwise limited to the portion of such award accrued as of the Effective Time by the Company for income statement purposes in accordance with generally accepted accounting principles and past practice.
Further, the Buyer and the Seller have agreed to cause the Group Companies to facilitate the payment of the second instalment of the Contingent Incentive.