Retention Agreement. Section 1.1. of the Retention Agreement be and hereby is amended by deleting the first paragraph in its entirety and inserting the following in lieu thereof:
Retention Agreement. In consideration for Executive’s continued service to the Company, the Company or one of its affiliates shall, no later than 60 days following the Effective Date, provide Executive with a separate retention agreement (the “Retention Agreement”).
Retention Agreement. (a) The Executive agrees to remain a full-time employee of the Company, in such capacities as described in Section 2(b) below, throughout the entire “Retention Period,” which shall begin on the Effective Date of this Agreement and end on the earliest of:
(i) The date of involuntary termination of the Executive’s employment by the Company other than for “Cause,” as that term is defined in Section 2(k) below;
(ii) The termination of employment with the Company by the Executive for “Good Reason,” as that term is defined in Section 2(l) below; or
(iii) March 31, 2012, at which time the Executive’s employment with the Company shall be terminated.
(b) The Executive agrees to remain a full-time employee of the Company throughout the entire Retention Period, continuing in his current position of Executive Vice President of the Company and President of the Company’s Castle Metals commercial unit for the period beginning on the Effective Date of this Agreement and ending on December 31, 2011 (or, if earlier, the end of the Retention Period) and then, if the Executive remains employed by the Company as of December 31, 2011, assisting with such special projects, as assigned by the Company, for the period beginning on January 1, 2012 and ending on March 31, 2012 (or, if earlier, the end of the Retention Period). At December 31, 2011 (or, if earlier, the end of the Retention Period), the Executive shall cease to be (i) an officer of the Company and each of its affiliates and (ii) a director of each of its affiliates on whose Board of Directors he then serves.
(c) The Company retains the right to terminate the employment of the Executive at any time, with or without Cause.
(d) If (and only if) the Executive remains a full-time employee of the Company for the period beginning on the Effective Date of this Agreement and ending on December 31, 2011 (or, if earlier, the end of the Retention Period), has satisfied the Waiver and Release conditions provided in Section 4(a), and has complied with the Section 6 Confidentiality, Restrictive Covenants, and Non-Disparagement provisions and Section 9 Ongoing Cooperation provisions, the Executive shall be entitled to the payments and benefits set forth in Section 3(a) of this Agreement, subject to any terms and conditions set forth in this Agreement. For the avoidance of doubt, if, prior to December 31, 2011 (or, if earlier, the end of the Retention Period), the Executive’s employment with the Company terminates for any reason other ...
Retention Agreement. Executive shall be eligible to receive a bonus pursuant to the terms of the Retention Letter Agreement entered into between Executive and the Company as of the Effective Date (the “Retention Agreement”) attached hereto as Exhibit C.
Retention Agreement. Second Installment. A lump sum Payment of One Hundred ------------------ Fifty Thousand Dollars ($150,000) shall be paid to Executive within 10 days following the Retention Date, subject to the repayment conditions and obligations in Section 4.1.3.
Retention Agreement. The Retention Escrow Amount is being placed into escrow in relation to the Retention Agreements with the Company employees listed in Schedule 5.12 (the "Retention Agreements."). To the extent any employee listed on Schedule 5.12 earns the last retention bonus installment under a Retention Agreement, such amounts will be released from the Retention Escrow Amount to Buyer. To the extent any employee listed on Schedule 5.12 does not earn the last retention bonus installment under a Retention Agreement, such amounts will be released from the Retention Escrow Amount to the LKB Trust. Upon release of any of the Retention Escrow Amount to Buyer in accordance with the Escrow Agreement, Buyer will, in accordance with its standard processes unless it determines otherwise, pay the amount of such Retention Escrow Amount owed to each employee under his or her applicable Retention Agreement, net of applicable withholding taxes.
Retention Agreement. Executive and the Company agree that the Retention Agreement is hereby terminated and of no further effect as of this date and neither Executive nor the Company shall have any further rights or obligations thereunder.
Retention Agreement. Premier Financial shall have negotiated and executed a mutually agreed upon retention agreement with Xxxxxx X. Xxxxxx as of the Effective Date with the consent of Peoples.
Retention Agreement. Executive hereby agrees and acknowledges that Sections 6, 8 and 9 of the Retention Agreement are of a continuing nature and expressly survive the expiration, termination or cancellation of the Retention Agreement and such obligations of Executive shall not be released pursuant to this Release. Except as set forth in the immediately preceding sentence, Executive and the Company acknowledge and agree that the Retention Agreement is terminated.
Retention Agreement. The Company and the Participant are party to an Executive Retention Agreement, dated as of , 20 (the “Retention Agreement”). The Participant acknowledges that the provisions of this option agreement are intended to be consistent with the Retention Agreement and in no event shall the vesting provisions set forth in the Retention Agreement increase the vesting benefits set forth in this option agreement, or vice versa.
