Eligibility for Retention Bonus. Subject to the terms of this Agreement, Executive shall receive a retention bonus (the “Retention Bonus”) if Executive remains an employee of the Company through January 1, 2007 (the “Retention Date”). The term “Company” shall include any affiliate (as such term is defined in Rule 12b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended) that employs Executive.
Eligibility for Retention Bonus. In consideration of your continued employment with Belk through each of the pay dates in this paragraph and conditioned on your satisfaction of the terms set forth in this Agreement, you will receive a retention bonus whether or not there is a transaction. The bonus will be paid in two installments on June 12, 2015 and on February 19, 2016. If we proceed to signing an agreement which contemplates a CIC you will be eligible to receive an additional amount on February 19, 2016. The bonus amounts are set forth in the letter accompanying this Agreement. You will not be eligible to receive the retention bonus payments if you are not continuously employed by Belk through the date of each payment. However, in the event you are unable to work due to a disability or are terminated as an express condition of a CIC, Belk will pay you the retention bonus payments as if you had remained employed. Disability shall, for the purpose of this Agreement, mean you are no longer able even with reasonable accommodation to perform the essential functions of your job as a result of a physical or mental impairment as determined by Belk in its sole discretion.
Eligibility for Retention Bonus. In consideration of, and to earn and retain the full amount of the Retention Bonus, you must:
(A) Remain fully employed by Axxxxxx until the earlier of (such employment period, the “Transition Period”) (i) the completion of the Transaction (defined as the close of a strategic transaction or a bankruptcy filing by the Company in the event of no strategic transaction) or (ii) the date that Alaunos terminates your employment for any reason, or no reason, other than if your employment is terminated because you failed to perform your duties at an Acceptable Level (as defined below);
(B) Continue to perform your duties at an Acceptable Level through the Transition Period; and
(C) Sign, and do not revoke, the separation and release agreement (the “Release of Claims”) attached as Exhibit A as provided in the Release of Claims.
Eligibility for Retention Bonus. You have been selected as eligible to receive a retention bonus in the amount of $3,500,000.00 (the “Retention Bonus”). To receive the Retention Bonus, we ask that you return an executed original of this Retention Agreement by [•]. The Retention Bonus will be paid to you, minus applicable tax withholdings, as soon as practicable and in no event more than 45 days after you return an executed version of this Retention Agreement. Except as otherwise set forth in section 3, to retain the Retention Bonus, you must remain continuously employed with the Company or, in the event of a Change in Control (as defined below), with an entity that is a party to the Change in Control (or an affiliate of such an entity) (a “Successor Employer”) through the entire Retention Period (as hereinafter defined). For purposes of this Retention Agreement, you will be deemed continuously employed during any approved leave of absence. As described in sections 3 and 4 below, if you fail to satisfy this continuous employment condition, you may be required to repay all of the Retention Bonus.
Eligibility for Retention Bonus. In recognition of your performance, and as an incentive to remain with the Company, you will be eligible to earn (i) a special cash retention bonus in the aggregate amount of $595,000, payable in two equal installments, subject to your continuous employment through each payment date, except as otherwise stated below, less applicable payroll withholdings and deductions, pursuant to the terms and conditions set forth in this Retention Agreement (the “Retention Bonus”). Subject to the terms of this Retention Agreement, you will be eligible to receive (i) one-half of the Retention Bonus contingent upon remaining continuously employed by the Company on a full-time basis in good performance standing through and including June 30, 2022, and (ii) the remaining one-half of the Retention Bonus contingent upon remaining continuously employed by the Company on a full-time basis in good standing through and including December 31, 2022. Notwithstanding the foregoing, in the event that [***] (as defined in the Company’s 2021 Equity Incentive Plan) occurs prior to either June 30, 2022 or December 31, 2022, the payment of the Retention Bonus will accelerate such that (A) the full amount of Retention Bonus will be paid in full upon [***] occurs prior to the June 30, 2022; and (B) the remaining, unpaid portion of the Retention Bonus will be paid in full upon [***] on or after the June 30, 2022 but prior to December 31, 2022.
Eligibility for Retention Bonus. Thank you for your hard work and continuing efforts in support of the Company’s success. In recognition of your performance, and as an incentive to remain with the Company, we are pleased to announce your eligibility to earn a special cash retention bonus in the aggregate amount of [$___________], less applicable payroll withholdings and deductions, pursuant to the terms and conditions set forth in this Retention Agreement (the “Retention Bonus”). Subject to the conditions described below, $[___] of the Retention Bonus will be payable in a lump sum on the Company’s first regularly scheduled payroll date on or following April 1, 2021 (the “First Retention Bonus Payment”), $[___] of the Retention Bonus will be payable in a lump sum on the Company’s first regularly scheduled payroll date on or following September 1, 2021 (the “Second Retention Bonus Payment”), and the remaining $[___] of the Retention Bonus will be payable in a lump sum on the Company’s first regularly scheduled payroll date on or following December 1, 2021 (the “Third Retention Bonus Payment”); provided, however, that in order to earn each of the First Retention Bonus Payment, the Second Retention Bonus Payment and the Third Retention Bonus Payment, the following conditions must be satisfied, except to the extent provided for in Section II of this Retention Agreement:
(1) with respect to each of the First Retention Bonus Payment, Second Retention Bonus Payment and Third Retention Bonus Payment, you must remain continuously employed by the Company on a full-time basis in good performance standing through and including April 1, 2021 (with respect to the First Retention Bonus Payment), September 1, 2021 (with respect to the Second Retention Bonus Payment) and December 1, 2021 (with respect to the Third Retention Bonus Payment); and
(2) with respect to the Third Retention Bonus Payment only, the Company must achieve the following performance goal on or before December 1, 2021: [***], as determined in the sole discretion of, and certified in writing by, the Company’s Board of Directors or its Compensation Committee (the “Performance Goal”).
Eligibility for Retention Bonus. Subject to the terms of this Agreement, Executive shall receive a Retention Bonus, as defined below, if Executive remains an employee of the Company through each Retention Date, as defined below. The term “Company” shall include any subsidiary of Xxxxxxxxx Flooring, Inc. that employs Executive.
Eligibility for Retention Bonus. Subject to the terms and conditions set forth in this Agreement, the Company will provide Recipient with the retention bonus as set forth in Section 3 (the “Retention Bonus”) if Recipient remains continuously employed by the Company through the Retention Date and Recipient’s employment does not terminate on the Retention Date. If Recipient’s employment terminates for any reason on or prior to the Retention Date, including but not limited to a termination by the Company for any reason, with or without cause, or a termination due to Recipient’s death or disability or due to Recipient’s resignation, Recipient will not be eligible to receive the Retention Bonus.
Eligibility for Retention Bonus. Subject to the terms of this Agreement, Executive shall receive a retention bonus (the “Retention Bonus”) if Executive remains a full-time employee of the Company in good standing through December 31, 2018 (the “Retention Date”). The term “Company” shall include any subsidiary of the Company that employs Executive. To remain an employee in good standing, Executive must complete any responsibilities reasonably assigned by the Chief Executive Officer and the successor CFO and assist in the following: (i) the CFO transition, (ii) strategic initiative rollouts, (iii) the Company’s 2020 rate case, (iv) regulatory and Federal and state securities’ requirements, (v) mentorship of high potential employees, and (vi) other Company strategic and financial administrative matters.
Eligibility for Retention Bonus. In recognition of your performance, and as an incentive to remain with the Company, you will be eligible for a one-time special cash retention bonus in the aggregate amount of $150,000, contingent upon you remaining continuously employed by the Company on a full-time basis in good performance standing through and including date the Company first lists shares of common stock on a stock exchange in the United States or otherwise completes a financing of no less than $20 million (the “Payment Date”), payable in a lump sum in advance of it being earned on the first administratively practicable Company payroll date following the Payment Date, less applicable payroll withholdings and deductions, pursuant to the terms and conditions set forth in this Retention Agreement (the “Retention Bonus”). Except as provided herein, to earn this Retention Bonus, you must remain continuously employed by the Company on a full-time basis in good performance standing through and including the second anniversary of the Payment Date (the “Earn Date”). If, prior to the Earn Date, your employment with the Company is terminated other than due to a Qualifying Termination (as defined below), you will be required to repay to the Company the entire gross amount of the Retention Bonus that was advanced to you within 30 days after your last day of employment with the Company.
