Common use of Payment of Retention Bonus Clause in Contracts

Payment of Retention Bonus. If Employee is employed through the Retention Period, the Retention Bonus will be paid out in accordance with the following payment schedule: (a) First Payment Installment: Company shall pay Employee $100,000.00, less applicable state and federal taxes and withholdings, on the first pay period following March 31, 2021; (b) Second Payment Installment: Company shall pay Employee $400,00.00, less applicable state and federal taxes and withholdings, on the first pay period following February 1, 2022 (collectively, “Installment Payments”).

Payment of Retention Bonus. If Employee is employed through the Retention Period, the Retention Bonus will be paid out in accordance with the following payment schedule: (a) First Payment Installment: The installment period begins on and ends on . Company shall pay Employee $100,000.00$ , less applicable state and federal taxes and withholdings, on or before the first second pay period following March 31, 2021; (b) Second Payment Installment: Company shall pay Employee $400,00.00, less applicable state and federal taxes and withholdings, on the first pay period following February 1, 2022 (collectively, “Installment Payments”).; and