Common use of Prior to a Triggering Event Clause in Contracts

Prior to a Triggering Event. In consideration of, and subject to, your continued employment with the Company prior to a Triggering Event and during the period beginning on the Effective Date and ending on the Liquidation Date, the Company will pay you a Retention Bonus equal to the annual rate of your base salary, as in effect on the Payment Date. The Retention Bonus will be paid in two substantially equal installments on each of the Payment Date and the Liquidation Date, subject to your continued employment with the Company on each such date. The Company will pay the Retention Bonus to you in lump sum cash amounts as soon as practicable after the Payment Date and the Liquidation Date but in no event more than thirty days thereafter, respectively.