Additional Retention Payment Sample Clauses
Additional Retention Payment. You will receive an additional lump-sum payment in an amount equal to the product of $108,160 multiplied by a fraction, the numerator of which is the greater of (i) number of days during calendar year 2016 from January 1, 2016 through your Date of Termination; or (ii) two hundred and forty-four (244) days, and the denominator of which is 366. This lump-sum payment will be paid (1) on the 35th day following your Date of Termination by CommerceHub without Just Cause; (2) on the 35th day following the end of your Transition Period, if you remain employed through that date and do not extend your employment by mutual agreement with CommerceHub; or (3) on March 15, 2017 if you continue to be employed on such date (or if that day is not a business day, on the next succeeding business day).
Additional Retention Payment. Notwithstanding the foregoing, the Company retains the option of retaining the Executive, in its sole discretion, for an extended period beyond January 1, 2009 (the "Extended Retention Period"), in which case the Company will award the Executive a lump sum cash payment in addition to the cash payment to which the Executive would be entitled under Section 1. This "Additional Retention Payment" would be an amount that is equal to a percentage of her current annual base salary, with such percentage to be determined by the Company's CEO or the Compensation Committee based on the length of the Extended Retention Period and other factors, as they may determine, but such determination must be made prior to the end of the Retention Period. Except as provided in Section 5, should the Executive separate from service with the Company prior to the end of the Extended Retention Period, she will not be entitled to any Additional Retention Payment. This Additional Retention Payment will be made on or before the 30th day immediately following the last day of the Extended Retention Period, if that day is a business day, and if not, the first business day immediately following.