Common use of Eligibility and Payment Clause in Contracts

Eligibility and Payment. In order to earn the Retention Bonus, you must (i) execute and return this Retention Agreement; and (ii) remain employed by Meredith through the consummation of the Spin-Off and thereafter by New Xxxxxxxx, or any corporate entity that is a direct or indirect subsidiary of New Xxxxxxxx (together, the “Applicable Employer”) on a full-time basis through and including August 10, 2024 (such date is the “Earn Date”). If earned, subject to Section IV, the Retention Bonus will be paid to you in a cash lump sum amount, less payroll withholdings and deductions, on the first administratively practicable payroll pay date following the Earn Date.