First Year Period definition
Examples of First Year Period in a sentence
The applicable twelve-month gross revenue amount for any period relevant hereto shall be determined using U.S. Generally Accepted Accounting Principles and shall be delivered to Caneum within thirty days following the end of the Base Period, the First Year Period, and the Second Year Period, respectively.
However, if the First Year Achieved Revenue is greater than or equal to the sum of Base Revenue plus the product that results from multiplying Base Revenue by .35, but less than the First Year Target Revenue, then the First Earnout Payment shall be calculated by multiplying the Maximum Earnout Payment for the First Year Period by the First Year Factor.
For purposes of determining the Company’s Percentile Ranking in the table below, “Total Stockholder Return” or “TSR” means, with respect to each share of Common Stock and each share of common stock of each of the peer companies, a rate of return reflecting stock price appreciation, plus the reinvestment of dividends in additional shares of stock, from the beginning of the Performance Period through the end of the First Year Period, the Performance Period, or the Shortened Performance Period, as applicable.
The applicable Absolute TSR Multiplier shall be as set forth in the table in Section 2.2(b) below (with straight line interpolation for achievement between the Company Annualized TSR or TSR for First Year Period, as applicable (above 5%), set forth below), based on the Company’s Total Stockholder Return during the First Year Period or annualized Total Stockholder Return over the Performance Period or the Shortened Performance Period, as applicable.
For purposes of this agreement, a “Stand-In Peer” shall be a dummy entity for purposes of calculating the Company’s Relative TSR Multiplier for the First Year Period, the Performance Period, or the Shortened Performance Period, as applicable, during which one or more actual companies cease to be Peer Group Companies pursuant to the foregoing Sections 2.4(a) or 2.4(c).
The applicable twelve-month gross revenue amount for any period relevant hereto shall be determined using U.S. Generally Accepted Accounting Principles and shall be delivered to Buyer within thirty days following the end of the Base Period, the First Year Period, and the Second Year Period, respectively.
C) if either or both of the Surviving Corporations meet or exceed the revenue and/or other operating targets in the Budget as set forth in Schedule 1.6(b)(i)B, attached hereto and incorporated herein, during the twelve (12) months following the First Year Period (the “Second Year Period”), then the Shareholders shall receive $1,500,000 worth of additional Merger Stock (the “Second Year Shares”).
For the First Year Period, the price per share of Earnout Shares shall be the average closing price of Buyer’s common stock during the thirty (30) Trading Days prior to the end of the First Year Period; provided, however, that in no event, shall the price be less than $0.75 per share.
If the Company terminates this Agreement under Section 7(a) above during the First Year, the Company will pay to Employee an amount equal to the remaining base salary as established in Section 5.1 during the First Year payable over the remaining First Year Period in accordance with the Company's normal payroll policies.
The maximum number of First Year Shares issuable shall be 62,500; (3) if the Surviving Corporation generates Gross Revenues of at least $700,000 (the "Second Year Base") during the twelve (12) months following the First Year Period (the "Second Year Period"), then the Shareholder shall receive .089285 additional Parent Shares for each $1 of Gross Revenues generated above the Second Year Base during the Second Year Period (the "Second Year Shares").