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mas

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Alias Born 01/08/2004

mas

Re: mas post# 2017

Friday, 05/30/2014 8:43:32 PM

Friday, May 30, 2014 8:43:32 PM

Post# of 3055
Under the Asset Purchase Agreement, the parties have agreed that upon the consummation of the transactions, the Buyer will withhold $1,830,000 from the purchase price for the purpose of securing any purchase price adjustment to be paid by the Seller Companies in connection with any net working capital adjustment. In addition, the Buyer will deposit into escrow $6,100,000 from the purchase price (the “Indemnity Escrow Amount”) for the purpose of securing certain indemnification obligations of the Seller Companies. The Indemnity Escrow Amount will be held by an escrow agent under the terms of an Escrow Agreement until the 18-month anniversary of the consummation of the transactions, at which time the escrow agent will release the then-available Indemnity Escrow Amount to the Company (other than amounts in respect of any pending indemnification claims, which will be released upon final resolution of such claims).
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