Common use of Purpose of Program Clause in Contracts

Purpose of Program. The Program is designed to provide incentives for the Company's key executives to remain with the Company as it charts its course both as a new company and a competitor in the most dynamic and innovative industry in history. The Special Retention Account established under this Program is intended to provide such an incentive: it allows these employees (if they remain with the Company for at least one year) to defer certain payments that are not otherwise eligible for deferral under other Company-sponsored deferred compensation arrangements and to receive other benefits. The Program is expected to play an important role in the Company's efforts to retain employees with the leadership, vision, and commitment necessary for the Company to flourish during this enormously exciting and challenging time.