"… To the extent that a Termination Event (as defined below) shall occur prior to the Release Date, promptly following the occurrence thereof, the Acceleration Amount, less applicable Tax withholding, including any capital gain tax, income or employment tax, if applicable or any other tax payments required under the Code, the Israeli Tax Ordinance or any provision of applicable Law and any expenses and commissions which might be imposed under any law or agreement you are a party to, shall be paid to you by the Paying Agent in accordance with the terms and conditions set forth in this letter and the Holdback Agreement. If no Termination Event shall have occurred until the Release Date, you shall not be entitled to receive the Acceleration Amount or any portion thereof and such Acceleration Amount shall be distributed to the Equity Holders at the Final Release Date, together with the Escrow Fund, based on their respective Pro Rata Share in the manner set forth in the Purchase Agreement.
For the purposes hereof:
- הסכם ה-Holdback עיגן את העקרונות שנקבעו בהסכם הסדרת האופציות (the Optionholder Instrument); וכן הוסכם בו על תשלום Bonus Amount לתובע על סך של 625,000 דולר אם הוא ימשיך להיות מועסק לאחר שתחלוף שנה ממועד השלמת עסקת הרכישה (להלן - מענק השימור). עוד הובהר כי בשום מקרה לא ישולמו לתובע גם סכום האקסלרציה וגם מענק השימור.
- בעמוד הראשון להסכם ה-Holdback נכתב כדלקמן:
"Whereas, in connection with Holdback Participant's engagement with the buyer upon and following the Closing Date and the transactions contemplated under the SPA, a onetime bonus in the total amount of US$ 625,000 (the "Bonus Amount") shall be paid to Holdback Participant, contingent upon and subject to Holdback Participant's continuous service with the buyer or any affiliate thereof in accordance with and subject to the terms hereunder.
Whereas, pursuant to the terms and conditions set forth in the letter issued to Holdback Participant by the company regarding the treatment of share options, dated June ___, 2024 (the "Optionholder Instrument") the Acceleration Amount (as defined in the Optionholder Instrument) shall be paid to Holdback Participant, contingent upon and subject to the terms set forth in the Optionholder Instrument; the Acceleration Amount and Bonus Amount, whichever is paid to Holdback participant, shall constitute an "Employee Amount" as defined in the SPA…".