Re: Holdback payment in May - URGENT (Canada - Waterloo & Oakville)

--000000000000dbbaeb0618583d20 Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable In order to make this payment, I need someone to please confirm the exact amount to be sent and to whom. Is it *$160,000.00 CAD* sent to *Angie and Matt Kunnath* jointly? I will request payment instructions from them at the contact listed in this thread - are there any others with payments related to this? On Fri, May 3, 2024 at 11:15=E2=80=AFAM Paul Kahn wr= ote: > approved > > On Fri, May 3, 2024 at 9:57=E2=80=AFAM Laszlo Kovacs > wrote: > >> Ok- Thanks all. We will get a wire setup for Monday (the 6th) to get the >> payment out for this year. (Paul =E2=80=93 Can you please approve) >> >> >> >> Kate =E2=80=93 Can you please check if we have the payment instructions = for this >> one in the Treasury folder? If not, we=E2=80=99ll need to reach out to A= njana, Matt >> & Angie for clarity on if this is one payment or multiple and what the >> payment instructions should be. >> >> >> >> Thanks, >> >> >> >> *From:* Rebecca Ng >> *Sent:* Thursday, May 2, 2024 6:40 PM >> *To:* Geraldine Nath >> *Cc:* Steve Koyanagi ; Timothy Thomas > tt@thekey.com>; Kate Goodrich ; Laszlo Kovacs = > laszlo.kovacs@thekey.com>; Nina Kani ; >> brian.fialko@thekey.com >> *Subject:* Re: Holdback payment in May - URGENT (Canada - Waterloo & >> Oakville) >> >> >> >> Payment of $135,068.84 CAD was made on 05/16/2023. There was $24,931.16 >> CAD deducted from 2023 $160k CAD payment for pre-close royalties payable= s >> per Lucas' notes. >> >> >> >> We have $320k CAD accrued in GL account 210200-Escrow in HCA Canada >> subsidiary/location ($160k CAD for 2024 and $160k CAD for 2025). >> >> >> >> >> >> Thank you, >> >> >> >> Rebecca >> >> >> >> On Thu, May 2, 2024 at 4:16=E2=80=AFPM Geraldine Nath >> wrote: >> >> All: >> >> >> >> Looping in Rebecca who handles the accounting for this. Rebecca, can yo= u >> answer the questions below? >> >> >> >> *gerri nath* >> >> Chief Accounting Officer, TheKey >> >> Mobile: 561-879-0132 >> >> >> >> >> >> *From:* Steve Koyanagi >> *Sent:* Thursday, May 2, 2024 3:05 PM >> *To:* Timothy Thomas >> *Cc:* Geraldine Nath ; Kate Goodrich > kate.goodrich@thekey.com>; Laszlo Kovacs ; >> Nina Kani >> *Subject:* Re: Holdback payment in May - URGENT (Canada - Waterloo & >> Oakville) >> >> >> >> Hi Team, >> >> >> >> I reviewed the share purchase agreement ("SPA") and here is the >> background. This deal closed on 3/23/22 and as part of the transaction 4= 80k >> of the purchase price was held back to account for indemnity claims. >> >> >> >> On an annual basis for 3 years post-close, we are required to pay back >> 1/3 of the holdback amount (160k) within 45 days of the closing date >> anniversary. This means we should have paid 160k back to the Seller in = May >> 2023. Can you confirm this was done? >> >> >> >> Legal is not aware of any indemnity claims so this means 160k would be >> due on 5/6/24. Was this previously accrued? I know Kirk (and