Agreed.
On Thu, Sep 22, 2022 at 7:11 AM Connor Smith <connor@thekey.com> wrote:
> Ok, thanks for the clarification.
>
> Hua, we should move this to account 700451 - Acquisition Related Bonus.
> This will stay on the Vancouver P&L, but below the AEBITDA line.
>
> Mitch, let me know if you interpret this differently.
>
> Thanks,
> Connor
>
>
> On Thu, Sep 22, 2022 at 7:24 AM Timothy Thomas <tt@thekey.com> wrote:
>
>> I'm not sure the exact definition of "earnout". It was not a holdback if
>> that's what you mean. It was a part of her employment agreement negotiated
>> with the acquisition team which she would receive at the end of her first
>> year, tied to performance.
>>
>> On Thu, Sep 22, 2022 at 9:01 AM Connor Smith <connor@thekey.com> wrote:
>>
>>> Tim,
>>>
>>> When you say this bonus was tied to the acquisition agreement, does that
>>> mean this was an earnout payment?
>>>
>>> Thanks
>>>
>>> On Wed, Sep 21, 2022 at 11:33 PM Audra Williams <audraw@thekey.com>
>>> wrote:
>>>
>>>> This expense should go below the line. If it is tied to an earnout it
>>>> should not be reflected on the local P&L. Earnouts should be hitting a
>>>> different P&L for integrations.
>>>>
>>>> Best,
>>>>
>>>> On Wed, Sep 21, 2022 at 2:21 PM Timothy Thomas <tt@thekey.com> wrote:
>>>>
>>>>> We discussed this exact issue today on our monthly P&L review. This is
>>>>> a bonus tied to Carolinas acquisition agreement and should not fall into
>>>>> office comp. It should be below the line or perhaps the BSG P&L. Adding
>>>>> Audra who can assist.
>>>>>
>>>>> Thank you.
>>>>>
>>>>> On Wed, Sep 21, 2022 at 5:16 PM Hua Wu <hua.wu@thekey.com> wrote:
>>>>>
>>>>>> Hi Tim
>>>>>>
>>>>>> Do you have more info on the CAD$50K bonus paid out to Carolina in
>>>>>> August in Vancouver? Was it an earning bonus or other kind?
>>>>>>
>>>>>> @Connor Smith <connor@thekey.com> I put it in 700450
>>>>>> employee bonus. If it's not the correct account, let me know what account
>>>>>> to use and I'll move it.
>>>>>>
>>>>>> Thanks.
>>>>>>
>>>>>> Hua
>>>>>>
>>>>>> *Hua Wu CA, CPA*
>>>>>> Accounting Manager - Canada
>>>>>> (403) 369-8848
>>>>>> hua.wu@thekey.com
>>>>>> TheKey.com <https://www.thekey.com/>
>>>>>> [image: TheKey] <https://homecareassistance.com/>
>>>>>>
>>>>> --
>>>>> Tim Thomas
>>>>> Head of Canada Division
>>>>> *Please note my email has changed:*
>>>>> tt@TheKey.com <Tim.Thomas@TheKey.com>
>>>>> (514) 591-9387
>>>>> TheKey.com <https://www.thekey.com/>
>>>>> [image: TheKey] <https://www.thekey.com/>
>>>>>
>>>>
>>>>
>>>> --
>>>> Audra Williams
>>>> Director of Business Support
>>>> *Please note my email has changed:*
>>>> audraw@TheKey.com
>>>> <https://brand.thekey.com/esg/Audra.Williams@TheKey.com>
>>>> (425) 757-7027
>>>> TheKey.com <https://www.thekey.com/>
>>>> [image: TheKey] <https://homecareassistance.com/>
>>>>
>>>
>>
>> --
>> Tim Thomas
>> Head of Canada Division
>> *Please note my email has changed:*
>> tt@TheKey.com <Tim.Thomas@TheKey.com>
>> (514) 591-9387
>> TheKey.com <https://www.thekey.com/>
>> [image: TheKey] <https://www.thekey.com/>
>>
>
>
> --
> Connor Smith
> Finance Manager - FP&A
> * Please note my email has changed: *
> connor@thekey.com <https://brand.thekey.com/esg/connor@thekey.com>
> 619-987-3790
> TheKey.com <https://www.thekey.com/>
> [image: TheKey] <https://homecareassistance.com/>
>
--
Mitch Belitz
* Head of FP&A*
mitch.belitz@thekey.com
<https://brand.thekey.com/esg/mitch.belitz@thekey.com>
TheKey.com <https://www.thekey.com/>
[image: TheKey] <https://homecareassistance.com/>