Retention Benefit. To the extent that the Executive is employed by the Company on a date on which the Retention Payment (as defined herein) (or any portion thereof) is payable by the Company to the Executive hereunder or is terminated by the Company without Cause prior to a date on which the Retention Payment (or any portion thereof) would otherwise payable to the Company hereunder, the Company shall pay to the Executive the Retention Payment (or such portion). The Company shall not pay to the Executive any Retention Payment (or any portion thereof) (a) to the extent that the Executive has terminated his employment on or before the date on which the Retention Payment (or such portion) would otherwise be payable or (b) to the extent that the Company has terminated the employment of the Executive for Cause (as defined herein) on or prior to the date on which the Retention Payment (or such portion) would otherwise be payable. The Retention Payment shall (a), in the event of a Restructuring (as defined herein) be equal to 120% of the base annual salary of the Executive as of the date of this Agreement and (b), in the event of a Liquidation (as defined herein) or a termination by the Company other than for Cause, be equal to 100% of the base annual salary of the Executive as of the date of this Agreement; provided, however, if, on or prior to January 15, 2002, the Board of Directors of the Company votes, for any reason, to liquidate the Company, the Retention Payment shall be equal to 60% of the base annual salary of the Executive as of the date of this Agreement. The Company shall pay to the Executive (a) 40% of the Retention Payment (as though a Restructuring were occurring) on January 15, 2002, and (b) the balance of the Retention Payment shall be paid on, (i), in the case of a Restructuring, the effective date of the plan of reorganization confirmed by the Bankruptcy Court or (ii), in the case of a Liquidation, on the completion of the Liquidation (as determined by the Board of Directors of the Company).
Retention Benefit. The “Retention Benefit” payable hereunder is a lump sum payment, payable by check, in an amount equal to the sum of: (i) your base salary for a ____-month period; (ii) the average of the two most recent annual incentive bonuses paid to you prior to the Change in Control; and (iii) the amount you would have to pay for COBRA continuation coverage under the Bank’s group health plans for a ___-month period had your employment terminated immediately prior to the Change in Control and you elected COBRA continuation coverage at such time. For purposes of clause (i) of the preceding sentence, “base salary” means your base salary immediately prior to the Change in Control, but disregarding any reduction of your base salary that is made in anticipation of the Change in Control.
Retention Benefit. (a) If the Employee (A) is continuously employed by the Company or a Successor Employer as of the last day of the Retention Period, (B) is terminated by the Company or a Successor Employer without Cause prior to the end of the Retention Period or (C) ceases to be employed by the Company or a Successor Employer prior to the end of the Retention Period due to the Employee’s death or Disability (in each case, the “Vesting Date”), then, subject to Section 2(b), the Employee shall be eligible for a Retention Benefit equal to $500,000.00.
(b) If the Employee is eligible for a Retention Benefit as provided in:
(i) Clause (A) or Clause (C) in Section 2(a) above, then the Employee (or the Employee’s estate, as applicable) will be paid the Retention Benefit in a lump sum cash payment within 10 days after the end of the Vesting Date; or
(ii) Clause (B) in Section 2(a) above, then, provided that the Employee timely executes and returns to the Company a Waiver and Release not later than 50 days following the Vesting Date, and the Employee does not revoke such Waiver and Release during the seven-day revocation period beginning on the date of execution of the Waiver and Release (the “Revocation Period”), the Employee will be paid the Retention Benefit in a lump sum cash payment not later than the 60th day following the Vesting Date. If the Employee fails to timely execute and return a Waiver and Release to the Company or revokes a timely executed and returned Waiver and Release during the Revocation Period, then the Employee shall not be entitled to, and shall forfeit any and all right to, the Retention Benefit under this Agreement.
(c) If the Employee’s employment is terminated during the Retention Period and prior to the Vesting Date (i) by the Company or a Successor Employer for Cause or (ii) by the Employee other than due to death or Disability, then the Employee shall forfeit any or all rights to receive the Retention Benefit. In addition and for clarity, if during the Retention Period, unless approved in advance by the Chief Executive Officer of OGE, the Employee transfers to a new position within the Company or with OGE or any of its Affiliates other than the Partnership or the general partner of the partnership, then the Employee shall forfeit any or all rights to receive the Retention Benefit as of such transfer date.
Retention Benefit. City shall pay City Manager a retention benefit of $10,000 on July 1 of each year, beginning on July 1, 2018. The City will make normal withholdings from that payment as required by law.
Retention Benefit. 1.25.21.1 The University provides Employees returning from Parental Leave set out at clauses 1.25.14, 1.25.15 and 1.25.16 with a non- superannuable retention benefit as financial assistance to return to the University following their period of leave and to assist with the financial transition with returning to work.
1.25.21.2 The retention benefit is provided as either:
(a) a one-off lump sum payment equivalent to 12 weeks’ Base Salary (as defined in clause 2.2.3 for Division 2 Employees or clause 3.2.2 for Division 3 Employees), calculated on the Employee’s Base Salary paid on return from Parental Leave; or
(b) 12 weeks of paid absence to be utilised during the period of unpaid Parental Leave at clauses 1.25.14, 1.25.15 and 1.25.16 where the payment does not extend the period of Parental Leave; or
(c) a combination of (a) and (b) above up to an equivalent 12 weeks’ Base Salary.
1.25.21.3 The retention benefit will be provided where the Employee:
(a) applies for the:
i. paid leave no less than four weeks prior to the end of the Parental Leave; or
ii. payment within four weeks of returning from Parental Leave; and
(b) provides the University with written commitment to continue working with the University for a period in excess of 12 months from the date that the Employee returns from Parental Leave.
1.25.21.4 Where the Employee resigns or is dismissed within 12 months of returning from Parental Leave, the Employee will repay the nett amount of the retention benefit either through payroll deductions or another form of repayment as agreed with the Employee and University.
Retention Benefit. On December 31, 2013, (the “Retention Date”) if the Employee is actively employed by the Company as of such date, the Company will pay to the Employee a lump sum retention payment in an aggregate amount equal to $67,427.001 (the “Retention Payment”). The Retention Payment shall be payable not later than the tenth day following the Retention Date.
Retention Benefit. 1.29.22.1. The University provides Employees returning from Parental Leave set out at clauses 1.29.15, 1.29.16 and 1.
Retention Benefit. If (a) the Employee is employed by the Company, any parent or subsidiary of the Company or any successor to the Company on September 30, 2013, or (b) the Company, any parent or subsidiary of the Company or any successor to the Company terminates the Employee’s employment prior to September 30, 2013 for any reason other than for “Cause” (as that term is defined in the Targacept, Inc. 2006 Stock Incentive Plan, as amended and restated through March 9, 2011, as ), then the Company will pay the Employee the sum of ($ ) (the “Retention Award”). Such payment shall be made (without interest) within thirty (30) days following the date, if any, that that the condition set forth in either clause (a) or clause (b) above is met; provided that, in the case of clause (b) and notwithstanding anything herein to the contrary, no Retention Award shall be due or payable unless Employee shall have executed and delivered to the Company a Release within such thirty (30) day period. “Release” means a general waiver and release, in a form determined by the Company, discharging the Company, its affiliates and its and their respective officers, directors, employees, agents, attorneys and representatives and the heirs, predecessors, successors and assigns of all of the foregoing from any and all claims, actions, causes of action or other liability, whether known or unknown, contingent or fixed, arising out of or in any way related to the Retention Award (including, without limitation, any claims under the Agreement, other than the Company’s obligation to pay the consideration as provided in this Agreement). The determination of whether a termination is for Cause has occurred shall be made by the Compensation Committee of the Company’s Board of Directors (the “Committee”) acting in good faith.
Retention Benefit. In order to induce the Executive to remain actively employed with the Company, the Company shall provide the Executive with the restricted stock award pursuant to the form of restricted stock agreement attached hereto as Exhibit “A.”
Retention Benefit. As set forth in § 7(a) below, should Employee remain employed through the Contract Expiration Date, Employee will be entitled to benefits following the termination of his employment subject to the terms and conditions set forth herein.
