If you finish in time Agent Tethers throws the emitter on the lake, and then the sasquatch roars to break the ice. I'm less sure about what happened when you don't finish in time, but I think it's something like Tethers dropping the emitter in the snow, and the sasquatch picking it up and dunking it in the lake or something to that effect.
In either case the day is saved, so there isn't a material difference. Just a slightly different cutscene.
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