Cash Retention Award. Upon execution of this Agreement, the Grantee will receive a one-time, non-recurring $3,500,000 cash retention award. The Grantee hereby agree that, in the event the Grantee voluntarily terminate his employment with the Company on or before December 31, 2015 without the Board’s mutual consent, the Grantee shall repay the Company that portion of this award determined by multiplying (a) $1,750,000 by (b) a fraction, the numerator of which is the number of days from the date the Grantee’s employment terminates through December 31, 2015 and the denominator of which is 1,095. The Grantee acknowledges that he will not receive any annual bonus for his services in 2012 in addition to the retention award.
Cash Retention Award. The Company hereby awards to the Participant, as of the Award Date indicated below, a cash retention award (the “Award”) entitling the Participant to a cash amount that is earned if the Participant meets the Service-vesting requirements set forth in this Agreement. The dates on which the actual cash amount earned under the Award shall become payable and the remaining terms and conditions governing the Award, including the applicable Service-vesting requirements, shall be as set forth in this Agreement. Participant: NAME OF EXECUTIVE Award Date: Xxxxx 00, 0000
Cash Retention Award. Executive is hereby granted a cash retention award (the “Cash Retention Award”) as follows:
Cash Retention Award. Pursuant to the Cash Retention Award Agreement previously provided to the Employee (attached hereto as Exhibit B), the Employee will receive a one-time, lump sum payment of $1,000,000, less applicable deductions and withholdings, within sixty (60) days of the Termination Date.
Cash Retention Award. The Executive will be entitled to receive an amount equal to 222.2 percent of the Executive’s base salary as of the Original Effective Date (i.e., $1,000,000), an advance payment of $500,000 of which (the “Advance Retention Payment”) the Company shall pay to the Executive in a lump sum cash payment in December 2012 in respect of the Executive’s continued employment from the Original Effective Date, and the remainder of which (the “Remaining Retention Payment”) shall be payable provided the Executive remains employed continuously with the Company and its Affiliates from the Original Effective Date through December 31, 2014. The Company shall pay the Remaining Retention Payment to the Executive, if owed, in a single lump sum cash payment within thirty (30) days following the date the Executive satisfies the conditions for receiving the Remaining Retention Payment.
Cash Retention Award. Executive will receive a cash retention award bonus as follows: $100,000.00 if actively employed on September 1, 2020 $100,000.00 if actively employed on September 1, 2022 The Retention Bonus shall be payable on the first payroll cycle immediately following the above-referenced dates in accordance with the Company’s normal payroll practices and the Company shall deduct or cause to be deducted from the Retention Bonus, all taxes and amounts required by law to be withheld.
Cash Retention Award. On or as soon as reasonably practicable following the Effective Date (but in no event later than 30 days following the Effective Date), the Company shall grant to Executive a cash retention award (the “Cash Retention Award”) in the amount of $850,000. The Cash Retention Award shall vest and be paid in three equal installments on the first three anniversaries of the Effective Date, subject to Executive’s continued employment with the Company through the applicable anniversary, and, except as provided in Section 4(a)(ii), shall be forfeited upon a termination of employment prior to such time.
Cash Retention Award. The Company agrees to pay Executive, in a single lump cash payment, an amount equal to two hundred and eight-three thousand dollars ($283,000), less applicable withholding, on the Company’s first payroll date occurring after the Effective Date, which reflects the unvested portion of the retention payment set forth in the Retention Agreement.
Cash Retention Award. 1. The Company hereby grants a cash award (the “Retention Award”) to Executive having a target value of $700,000 (the “Granted Value”).
2. Executive shall not be deemed vested in any portion of the Granted Value until it has vested as hereinafter provided (the “Vested Award”). The Granted Value shall become a Vested Award in approximately equal installments on each of March 15, 2024, March 15, 2025 and March 15, 2026 (each, a “Vest Date”), subject to Executive’s continued employment with the Company or a Subsidiary or Affiliate through each applicable Vest Date.
3. The Vested Award shall be paid by the Company in cash (in the same currency as Executive’s payroll) as promptly as practicable following the applicable Vest Date and in no event later than March 15th of the year following the year in which such vesting occurs. In the event that Executive ceases for any reason (other than as indicated in Section B.1. below) to be an employee of the Company or any Subsidiary or Affiliate prior to an indicated Vest Date, then the portion of the Granted Value which has not theretofore become vested shall automatically be forfeited and returned to the Company.
Cash Retention Award. Subject to Executive’s Continuous Service through the final day of the Transition Period, the Company will pay Executive $1,000,000 (the “Cash Retention Award”) within 10 business days following the Separation Date.
