earnout;merger;"summary judgment";"Delaware Chancery Court";"change-of-control bonus";"Rule 56(h)";"contract construction";"discovery pending motion for summary judgment"

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Comet Systems, Inc. v. Miva, Inc., (Del. Ch., Oct. 22, 2008), read opinion here. This Chancery Court opinion involves the interpretation of an earnout provision and a change-of-control bonus in a merger agreement. The Court’s own introductory overview of the the factual background and the issue addressed is the most efficient means to summarize this case…