Common use of Retention Arrangement Clause in Contracts

Retention Arrangement. Not later than the close of business --------------------- on May 15, 2000, the Executive shall notify the Company substantially in the form of the notice attached hereto as Exhibit A that he has irrevocably elected one of the Retention Arrangements set forth therein. If the Executive fails to provide timely notice to the Company substantially in form of the notice attached hereto as Exhibit A, the Executive will be deemed to have elected Retention Arrangement No. 1 described in the form of notice attached as Exhibit A. Lump sum payments payable to the Executive hereunder shall be payable (subject to applicable withholding) as soon as practicable after the second anniversary of the Consummation Date (or, if later, after the second anniversary of the Effective Time), so long as the Executive has remained an employee of Merck-Medco through the entire Employment Period and is an employee of Merck- Medco on the second anniversary of the Consummation Date (or, if later, after the second anniversary of the Effective Time).

Retention Arrangement. Not later than the close of business on --------------------- on May 15, 2000, the Executive shall notify the Company substantially in the form of the notice attached hereto as Exhibit A that he has irrevocably elected one of the Retention Arrangements set forth therein. If the Executive fails to provide timely notice to the Company substantially in form of the notice attached hereto as Exhibit A, the Executive will be deemed to have elected Retention Arrangement No. 1 described in the form of notice attached as Exhibit A. Lump sum payments payable to the Executive hereunder shall be payable (subject to applicable withholding) as soon as practicable after the second anniversary of the Consummation Date (or, if later, after the second anniversary of the Effective Time), so long as the Executive has remained an employee of Merck-Medco through the entire Employment Period and is an employee of Merck- Medco on the second anniversary of the Consummation Date (or, if later, after the second anniversary of the Effective Time).

Retention Arrangement. Not later than the close of business --------------------- on May 15, 2000, the Executive shall notify the Company substantially in the form of the notice attached hereto as Exhibit A that he has irrevocably elected one of the Retention Arrangements set forth therein. If the Executive fails to provide timely notice to the Company substantially in form of the notice attached hereto as Exhibit A, the Executive will be deemed to have elected Retention Arrangement No. 1 described in the form of notice attached as Exhibit A. Lump sum payments payable to the Executive hereunder shall be payable (subject to applicable withholding) as soon as practicable after the second anniversary of the Consummation Date (or, if later, after the second anniversary of the Effective Time), so long as the Executive has remained an employee of Merck-Medco through the entire Employment Period and is an employee of Merck- Medco on the second anniversary of the Consummation Date (or, if later, after the second anniversary of the Effective Time).

Retention Arrangement. Not later than the close of --------------------- business --------------------- on May 15, 2000, the Executive shall notify the Company substantially in the form of the notice attached hereto as Exhibit A that he has irrevocably elected one of the Retention Arrangements set forth therein. If the Executive fails to provide timely notice to the Company substantially in form of the notice attached hereto as Exhibit A, the Executive will be deemed to have elected Retention Arrangement No. 1 described in the form of notice attached as Exhibit A. Lump sum payments payable to the Executive hereunder shall be payable (subject to applicable withholding) as soon as practicable after the second anniversary of the Consummation Date (or, if later, after the second anniversary of the Effective Time), so long as the Executive has remained an employee of Merck-Medco through the entire Employment Period and is an employee of Merck- Medco on the second anniversary of the Consummation Date (or, if later, after the second anniversary of the Effective Time).