Asset Sale Bonus

Asset Sale Bonus. A lump sum cash (except as provided below) payment equal to Employee's Pro Rata Share of 5% of the Gross Value of the aggregate consideration received in an Asset Sale Transaction. The Asset Sale Bonus will be paid to Employee on the Asset Sale Transaction closing date. Notwithstanding the foregoing, in the event that the proceeds from the Asset Sale Transaction consist entirely of equity consideration, Employee agrees, at the Company's option, to take 50% of the Asset Sale Bonus in cash and... 50% of the Asset Sale Bonus in the equity received by the Company if the Company is permitted to transfer such equity to Employee. View More