Deployment Revenue definition
Deployment Revenue means billable users multiplied by revenue per user collected . Revenue is net of write-offs for eligibility and is calculated by the Company’s CFO. • Liquidity Event Deadline: the occurrence of an initial public offering of the Company’s securities (“IPO”) or a Corporate Transaction (as defined in the Plan, provided that the transaction is also a “change in control event” under U.S. Treasury Regulation Section 1.409A-3(i)(5)(v)) (each a “Liquidity Event”), on or prior to the seventh anniversary of the grant date of the RSUs (the “Liquidity Event Deadline”) (“Vesting Prong 2”). Each RSU will entitle the Employee to one share of the Company’s common stock following the date on which the RSU satisfies both Vesting Prong 1 and Vesting Prong 2 (or potentially cash in the event of a Corporate Transaction). Upon a Liquidity Event prior to the Liquidity Event Deadline, any RSUs that have satisfied Vesting Prong 1 will be eligible for payment, and any RSUs that have not satisfied Vesting Prong 1 will vest thereafter in accordance with Vesting Prong 1, subject to the Employees continued employment. Unless the Employee otherwise elects to pay his applicable withholding taxes in cash, all vested RSUs will be settled using net settlement, whereby the number of shares of the Company’s common stock delivered to the Employee will be reduced by the number of shares of the Company’s common stock necessary (based on the then fair market value of the Company’s common stock) to satisfy the Employee’s applicable withholding taxes.