As an incentive I think the mechanism is overall effective - it only comes into play if they sell the company. But the tiers need to change to reflect the growth in the upside which has grown massively since the SBP was first introduced in 2020. That and their roadmap now goes longer than just end of platform lots - which would result in more enterprise value at time of sale.
Say they increase the bottom tier, fatten the middle tier and shift the top tier higher - this will push them for a bigger result.
Currently:
Sale Value of US$120m to US$350m = 5.0% of the Sale Value
Sale Value of US$350m to US$550m = US$17.5m plus 6.25% of the excess above US$350m
Sale Value above US$550m = US$30.0m plus 7.5% of the excess above US$550m
Maybe something like US$350m to US$550m US$550m to US$1.5bn Above US$1.5bn
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