Examples of Earnout Payment in a sentence
HCCA shareholders and management shall have the right to receive, Earnout Payment Shares, which shall be issued as follows: (i) 1,400,000 shares if the combined company achieves consolidated gross revenue of $150,000,000 for the twelve months ended March 31, 2014 or June 30, 2014; and (ii) 1,400,000 shares if the combined company achieves consolidated gross revenue of $300,000,000 for the twelve months ended March 31, 2015 or June 30, 2015.
In the event the combined company does not achieve the first earnout threshold, but does achieve the second earnout threshold, then all of the Earnout Payment Shares shall be issued.
If the combined company consolidates, merges or transfers substantially all of its assets prior to June 30, 2015 at a valuation of at least $15.00 per share, then all of the Earnout Payment Shares not previously paid out shall be issued immediately prior to such transaction.
This Agreement embodies the entire agreement and understanding between the parties hereto with respect to the Year One Earn-out Payment and supersedes all prior oral or written agreements and understandings relating to the Year One Earn-out Payment.
If the Employee's employment is terminated by Tangram Without Cause, Axial shall pay to the Employee the Earnout Share which would be due to the Employee for the Earnout Period for which Axial received the applicable Earnout Payment, as though such Employee had still been employed by Tangram on the last day of the applicable Earnout Period, but shall not be entitled to and shall forfeit all of Employee's right to any and all Earnout Share for any future Earnout Period.