GTI Presentation 4.18(1)

GTI Presentation 4.18(1) - Eagles,LLP Overview...

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Eagles, LLP GTI Transaction Bonus Plan
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Overview Introduction (Summary of Request) Revisions to the Traditional Agreement Construction of the Letter Agreement Comparing Traditional vs. Letter Agreement Conclusion
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Summary of Request Project Goals: Revise traditional agreement to minimize ambiguity Draft Bonus Plan in a letter agreement format  Things to consider: Charts rather than text Making documents understandable Eliminating ambiguities—especially re: “Net Proceeds” Business letter as an alternative form of contract
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Traditional Agreement Previous Transaction Bonus Pool
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Traditional Agreement New Transaction Bonus Pool Insert a simple chart rather than detailing the relationship  between the value of net proceeds and the bonus pool Reduces the length and increases the efficiency of the  agreement as a whole
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Traditional Agreement Previous Calculation of Net Proceeds "Net Proceeds"  with respect to any Change in Control, shall mean (i) cash (freely convertible into U.S. dollars)  received by the Company or the Company's shareholders from such Change in Control (including cash received as  consideration for the assumption of liabilities incurred in connection with or in anticipation of such Change in Control),  after (A) provision for all income or other taxes payable by the Company in connection with or resulting from such  Change in Control, (B) payment of all brokerage commissions, underwriting, legal and other fees and expenses  related to such Change in Control, and (C) deduction of appropriate amounts to be provided by the Company or the  Company's shareholders as a reserve, in accordance with generally accepted accounting principles, against any  liabilities associated with the securities or assets sold or disposed of in such Change in Control and retained by the  Company or the Company's shareholders after such Change in Control, including, without limitation, pension and  other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification  obligations associated with the securities or assets sold or disposed of in such Change in Control, (ii) the fair market  value of all stock or other non-cash consideration received by the Company or the Company's shareholders in  connection with such Change in Control determined as of the Signing Date in accordance with the last sentence of  this paragraph (F)(5), (iii) promissory notes received by the Company or the Company's shareholders from such  Change in Control upon the liquidation or conversion of such notes into cash, and (iv) the excess of (A) the sum of (I) 
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This note was uploaded on 10/18/2011 for the course LAW 700 taught by Professor Kim during the Spring '10 term at USC.

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GTI Presentation 4.18(1) - Eagles,LLP Overview...

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