Common use of 2005 Retention Program Clause in Contracts

2005 Retention Program. Effective as of the Distribution Date, Tronox shall assume and be solely responsible for all unpaid liabilities to or relating to Transferred Individuals under the Xxxx-XxXxx Corporation 2005 Retention Program and shall provide for full payment of all bonuses owed under such program as soon as feasible following the expiration of the retention period required under such program. As soon as practicable after Tronox or a Tronox Entity pays any award under the Xxxx-XxXxx Corporation 2005 Retention Program to a Transferred Individual, Xxxx-XxXxx shall reimburse Tronox for the full amount of such payment multiplied by a fraction, the numerator of which is the total number of days from and including April 1, 2005 until the Offering Date, and the denominator of which is the total number of days from and including April 1, 2005 until the date the award is payable under such program.