If there is no sale, Smith will receive $225,000 in cash 30 days after that date. If there is a sale, the company will pay him a $450,000 sale bonus—half within 30 following any qualifying sale and the other half following the one-year anniversary of any sale, provided he is still with the company. There is nothing unusual in payment for change-of-control events for executives of public companies. But those are usually open-ended and the window on this one is so narrow it’s easy to wonder if something is up. Edgewater is being run by an investor group that took over the board of directors last year and ousted CEO Shirley Singleton and no permanent CEO has been named. It’s easy to think we might see an asset sale of some kind.