Common use of Executive Retention Bonus Clause in Contracts

Executive Retention Bonus. If you are eligible in accordance with ------------------------- the criteria which follow, you will receive an Executive Retention Bonus consisting of two installments - one for $56,250 (the "First Installment") and one for $168,750 (the "Second Installment"), each subject to normal tax and other applicable withholding and deductions. In order to receive the First Installment of the Executive Retention Bonus, you must remain employed in your current position, or in one into which you are requested by the Company to transfer, during the Retention Period for the First Installment. In that event, if you satisfy the applicable additional eligibility criteria described below, you will receive the First Installment on or about January 15, 2000 (but in no event later than the date the Second Installment of the Executive Retention Bonus is due) in a lump sum payment. In order to receive the Second Installment of the Executive Retention Bonus, you must remain employed in your current position, or in one into which you are requested by the Company to transfer, during the Retention Period for the Second Installment. In that event, if you satisfy the applicable additional eligibility criteria described below, you will receive the Second Installment within five business days after the Sale of the Company relating to your employment in a lump sum payment. If for any reason no Sale of the Company relating to your employment occurs before January 1, 2001, you will not receive the Second Installment of the Executive Retention Bonus.

Appears in 2 contracts

Samples: Eskimo Pie Corp, Eskimo Pie Corp

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Executive Retention Bonus. If you are eligible in accordance with the ------------------------- the criteria which follow, you will receive an Executive Retention Bonus consisting of two installments - one for $56,250 (the "First Installment") and one for $168,750 (the "Second Installment"), each subject to normal tax and other applicable withholding and deductions. In order to receive the First Installment of the Executive Retention Bonus, you must remain employed in your current position, or in one into which you are requested by the Company to transfer, during the Retention Period for the First Installment. In that event, if you satisfy the applicable additional eligibility criteria described below, you will receive the First Installment on or about January 15, 2000 (but in no event later than the date the Second Installment of the Executive Retention Bonus is due) in a lump sum payment. In order to receive the Second Installment of the Executive Retention Bonus, you must remain employed in your current position, or in one into which you are requested by the Company to transfer, during the Retention Period for the Second Installment. In that event, if you satisfy the applicable additional eligibility criteria described below, you will receive the Second Installment within five business days after the Sale of the Company relating to your employment in a lump sum payment. If for any reason no Sale of the Company relating to your employment occurs before January 1, 2001, you will not receive the Second Installment of the Executive Retention Bonus.

Appears in 1 contract

Samples: Eskimo Pie Corp

Executive Retention Bonus. If you are eligible in accordance with ------------------------- -------------------------- the criteria which follow, you will receive an Executive Retention Bonus consisting of two installments - one for $56,250 31,250 (the "First Installment") and one for $168,750 93,750 (the "Second Installment"), each subject to normal tax and other applicable withholding and deductions. In order to receive the First Installment of the Executive Retention Bonus, you must remain employed in your current position, or in one into which you are requested by the Company to transfer, during the Retention Period for the First Installment. In that event, if you satisfy the applicable additional eligibility criteria described below, you will receive the First Installment on or about January 15, 2000 (but in no event later than the date the Second Installment of the Executive Retention Bonus is due) in a lump sum payment. In order to receive the Second Installment of the Executive Retention Bonus, you must remain employed in your current position, or in one into which you are requested by the Company to transfer, during the Retention Period for the Second Installment. In that event, if you satisfy the applicable additional eligibility criteria described below, you will receive the Second Installment within five business days after the Sale of the Company relating to your employment in a lump sum payment. If for any reason no Sale of the Company relating to your employment occurs before January 1, 2001, you will not receive the Second Installment of the Executive Retention Bonus.

Appears in 1 contract

Samples: Eskimo Pie Corp

Executive Retention Bonus. If you are eligible in accordance with ------------------------- the criteria which follow, you will receive an Executive Retention Bonus consisting of two installments - one for $56,250 150,000 (the "First Installment") and one for $168,750 450,000 (the "Second Installment"), each subject to normal tax and other applicable withholding and deductions. In order to receive the First Installment of the Executive Retention Bonus, you must remain employed in your current position, or in one into which you are requested by the Company to transfer, during the Retention Period for the First Installment. In that event, if you satisfy the applicable additional eligibility criteria described below, you will receive the First Installment on or about January 15, 2000 (but in no event later than the date the Second Installment of the Executive Retention Bonus is due) in a lump sum payment. In order to receive the Second Installment of the Executive Retention Bonus, you must remain employed in your current position, or in one into which you are requested by the Company to transfer, during the Retention Period for the Second Installment. In that event, if you satisfy the applicable additional eligibility criteria described below, you will receive the Second Installment within five business days after the Sale of the Company relating to your employment in a lump sum payment. If for any reason no Sale of the Company relating to your employment occurs before January 1, 2001, you will not receive the Second Installment of the Executive Retention Bonus.

Appears in 1 contract

Samples: Eskimo Pie Corp

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Executive Retention Bonus. If you are eligible in accordance with ------------------------- the criteria which follow, you will receive an Executive Retention Bonus consisting of two installments - one for $56,250 37,500 (the "First Installment") and one for $168,750 112,500 (the "Second Installment"), each subject to normal tax and other applicable withholding and deductions. In order to receive the First Installment of the Executive Retention Bonus, you must remain employed in your current position, or in one into which you are requested by the Company to transfer, during the Retention Period for the First Installment. In that event, if you satisfy the applicable additional eligibility criteria described below, you will receive the First Installment on or about January 15, 2000 (but in no event later than the date the Second Installment of the Executive Retention Bonus is due) in a lump sum payment. In order to receive the Second Installment of the Executive Retention Bonus, you must remain employed in your current position, or in one into which you are requested by the Company to transfer, during the Retention Period for the Second Installment. In that event, if you satisfy the applicable additional eligibility criteria described below, you will receive the Second Installment within five business days after the Sale of the Company relating to your employment in a lump sum payment. If for any reason no Sale of the Company relating to your employment occurs before January 1, 2001, you will not receive the Second Installment of the Executive Retention Bonus.

Appears in 1 contract

Samples: Eskimo Pie Corp

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