{"id":43184,"date":"2022-11-21T14:18:10","date_gmt":"2022-11-21T12:18:10","guid":{"rendered":"https:\/\/www.e2.law\/?post_type=clauses&#038;p=43184"},"modified":"2022-11-21T14:58:03","modified_gmt":"2022-11-21T12:58:03","slug":"earn-out","status":"publish","type":"clauses","link":"https:\/\/www.e2.law\/fr\/clauses\/earn-out\/","title":{"rendered":"Earn out"},"content":{"rendered":"<p class=\"m_3534770484240113041M2T\">= une partie du prix est variable et d\u00e9pend de param\u00e8tres divers.<u><\/u><u><\/u><\/p>\n<p class=\"m_3534770484240113041M2T\">Param\u00e8tres<u><\/u><u><\/u><\/p>\n<ul>\n<li class=\"m_3534770484240113041M2T\"><u><\/u>B\u00e9n\u00e9fices de la target<\/li>\n<li class=\"m_3534770484240113041M2T\">Ebit(da)<\/li>\n<li class=\"m_3534770484240113041M2T\">Augmentation fond propres<\/li>\n<li class=\"m_3534770484240113041M2T\">Cashflow<\/li>\n<li class=\"m_3534770484240113041M2T\">Octroi d\u2019un brevet ou d\u2019un permis de construire<\/li>\n<li class=\"m_3534770484240113041M2T\">Nombre de clients ou de produits<\/li>\n<li class=\"m_3534770484240113041M2T\">D\u00e9veloppement d\u2019un nouveau produit<\/li>\n<\/ul>\n<p class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0<u><\/u><\/p>\n<p class=\"m_3534770484240113041M2T\">But\u00a0:<u><\/u><u><\/u><\/p>\n<ul>\n<li class=\"m_3534770484240113041M2T\"><u><\/u>Combler la diff\u00e9rence entre le prix propos\u00e9 par l\u2019acheteur et celui qui est souhait\u00e9 par le vendeur.<\/li>\n<li class=\"m_3534770484240113041M2T\">Fournir un incentive \u00e0 l\u2019acheteur pour finaliser ou au vendeur pour rester impliqu\u00e9 dans l\u2019entreprise<\/li>\n<li class=\"m_3534770484240113041M2T\">Faciliter le financement<\/li>\n<li class=\"m_3534770484240113041M2T\">S\u00fbret\u00e9 pour l\u2019ex\u00e9cution forc\u00e9e des garanties<\/li>\n<\/ul>\n<p class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0<u><\/u><\/p>\n<p class=\"m_3534770484240113041M2T\"><u>Caveat :<\/u><\/p>\n<ul>\n<li class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0<u><\/u>L\u2019earn-out ne peut \u00eatre pay\u00e9 par la soci\u00e9t\u00e9 faisant l\u2019objet de la transaction.<\/li>\n<li class=\"m_3534770484240113041M2T\">Si la clause risque de s\u2019analyser comme une condition purement potestative,\u00a0 la transaction peut \u00eatre nulle.<\/li>\n<\/ul>\n<p class=\"m_3534770484240113041M2T\"><u>A r\u00e9gler\u00a0:<\/u><\/p>\n<ul>\n<li class=\"m_3534770484240113041M2T\"><u><\/u>Le mode de v\u00e9rification des conditions doit \u00eatre r\u00e9gl\u00e9 pr\u00e9cis\u00e9ment (acc\u00e8s \u00e0 l\u2019information, normalisation pour exclure les frais de transaction et les co\u00fbts d\u2019int\u00e9gration, comptabilit\u00e9 analytique \u00e0 pr\u00e9voir si la soci\u00e9t\u00e9 cible doit \u00eatre int\u00e9gr\u00e9e dans un groupe, \u00e9ventuellement avec exigibilit\u00e9 imm\u00e9diate d\u2019un montant forfaitaire en son absence ou en cas de re-transfert des actions dans un bref d\u00e9lai,&#8230;)<u><\/u><u><\/u><\/li>\n<li class=\"m_3534770484240113041M2T\"><u><\/u>Modalit\u00e9s ( :<u><\/u><u><\/u><\/li>\n<\/ul>\n<p class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 o\u00a0\u00a0\u00a0 <u><\/u>Obligation de rester actifs pour la soci\u00e9t\u00e9 pendant une certaine dur\u00e9e\u00a0? (attention, si l\u2019acheteur met fin \u00e0 la collaboration il peut \u00eatre redevable de tout ou partie du prix variable)<u><\/u><u><\/u><\/p>\n<p class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 o\u00a0\u00a0\u00a0 <u><\/u>Paiement par tranche\u00a0?<u><\/u><u><\/u><\/p>\n<p class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 o\u00a0\u00a0\u00a0 <u><\/u>Tout ou rien\u00a0ou prorata<u><\/u><u><\/u><\/p>\n<p class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 o\u00a0\u00a0\u00a0 <u><\/u>Plafond et seuils<u><\/u><u><\/u><\/p>\n<p class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 o\u00a0\u00a0\u00a0 <u><\/u>Possibilit\u00e9 de compenser avec r\u00e9clamations de dommage\u00a0?<u><\/u><u><\/u><\/p>\n<ul>\n<li class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0<u><\/u>Les m\u00eames questions que pour le calcul du prix fixe.<\/li>\n<li class=\"m_3534770484240113041M2T\">\u00a0 \u00a0 \u00a0<u><\/u><u><\/u><\/li>\n<\/ul>\n<p class=\"m_3534770484240113041M2T\">Varia\u00a0:<u><\/u><u><\/u><\/p>\n<ul>\n<li class=\"m_3534770484240113041M2T\"><u><\/u>Demander dans la convention de pr\u00e9ciser l\u2019intention de l\u2019acheteur pour l\u2019int\u00e9gration (quid en cas de transfert subs\u00e9quent ?<\/li>\n<li class=\"m_3534770484240113041M2T\">Risque pour acheteur :<\/li>\n<\/ul>\n<p class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0o\u00a0\u00a0\u00a0 <u><\/u>Si on peut consid\u00e9rer que par ses actes, il fait perdre une chance au vendeur\u00a0:<u><\/u><u><\/u><\/p>\n<p><u><\/u>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0&#8211; Met fin \u00e0 la collaboration avec les vendeurs sans raison ? (y compris pour faute grave)<u><\/u><u><\/u><\/p>\n<p class=\"m_3534770484240113041M2T\"><u><\/u>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0&#8211; D\u00e9cide de ne pas poursuivre l\u2019activit\u00e9<\/p>\n","protected":false},"featured_media":0,"template":"","categories":[141],"tags":[],"class_list":["post-43184","clauses","type-clauses","status-publish","hentry","category-non-classifiee"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Earn out - e2.law<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.e2.law\/fr\/clauses\/earn-out\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earn out - e2.law\" \/>\n<meta property=\"og:description\" content=\"= une partie du prix est variable et d\u00e9pend de param\u00e8tres divers. 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