Retention Bonus Agreements Sample Clauses

Retention Bonus Agreements. On the Closing Date the Company shall enter into Retention Bonus Agreements in the form of Exhibit B attached hereto with certain key employees of the Company (the "Retention Bonus Agreements"). The Requisite Sellers shall determine the employees of the Company to enter into such Retention Bonus Agreements and to be paid such bonuses and the amount of each such employee's bonus. The aggregate amount of all bonuses pursuant to the Retention Bonus Agreements shall be Nine Hundred Thousand Dollars ($900,000), and the Buyer agrees to make available the aggregate amount of Nine Hundred Thousand Dollars ($900,000) for the payment of bonuses pursuant to such Retention Bonus Agreements. On the Closing Date the Buyer shall pay to the Company in immediately available funds the aggregate amount of Six Hundred Thirty-five Thousand, Two Hundred Ninety-One and 99/100 Dollars ($635,291.99) for the purpose of the Company paying bonuses on the Closing Date pursuant to the Retention Bonus Agreements. The payment of such bonuses on the Closing Date, the withholding of appropriate federal, state and local taxes, and all other employer obligations related to such bonuses shall be the obligation of the Company. The Retention Bonus Agreements shall provide that the remaining bonus amount of Two Hundred Sixty-four Thousand, Seven Hundred Eight and 01/100 Dollars ($264,708.01) shall be paid quarterly in equal quarterly installments Pag 48 over a three (3) year period subsequent to the Closing Date, and payments shall be convertible at the election of the holder thereof into voting no par value common stock of the Buyer; provided, however, that such conversion rights shall be exercisable only in the event that the Buyer then shall have sufficient authorized capital stock to issue to such holders in conversion of payments due to them thereunder.
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Retention Bonus Agreements. The Parties will work together in good faith to have FUSB (as successor to TPB) enter into retention bonus agreements that become effective as of (and subject to the occurrence of) the Effective Time with the individuals set forth on Schedule 7.18 (the “Retention Bonus Agreements”).
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Retention Bonus Agreements. The retention bonus agreements between Parent and each of Xxxxx X. Xxxxx and Xxxxx X. Xxxxxxx shall have been terminated, contingent and effective upon the Closing, and the retention bonus agreements between Parent and all other of its employees shall have been amended, contingent and effective upon the Closing.
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Retention Bonus Agreements. Each of the Company employees listed on Schedule 7.02(m) shall have executed and delivered a Retention Bonus Agreement in form and substance reasonably satisfactory to Parent.
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Retention Bonus Agreements. Promptly after the date hereof, the Company shall use commercially reasonable efforts to enter into Retention Bonus Agreements in the form of Exhibit G with each of the individuals set forth in Document 6.54 of the Clean Room as of the date hereof (the “Retention Schedule”), which Retention Bonus Agreements shall provide for conditional payments to such individuals in the total amounts set forth opposite each such individual’s name in the Retention Schedule.
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Retention Bonus Agreements. (a) Immediately prior to the Effective Time, the Company shall grant the Key Employee Options and shall obtain from its shareholders a waiver of any rights of first refusal and trigger of any antidilution rights associated therewith. The Key Employee Options shall be for that number of shares of Company Common Stock to satisfy the obligations of the Company under the Retention Bonus Agreements less any applicable withholding taxes required to be paid in connection therewith. The Parent shall fund the withholding obligations of the recipients of the Key Employee Options at such time as those withholding obligations are required to be paid; provided, however, that the Parent shall not be required to fund such withholding obligations until the Closing Date or later and the number of shares issuable under the Key Employee Options are reduced by the amount of the applicable withholdings.
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Retention Bonus Agreements. Buyer shall have received an executed Retention Bonus Agreement (including an executed Employee Agreement and Acknowledgment of Obligations and Agreement to Arbitrate in the form attached thereto) from at least five of the Key Retention Bonus Recipients, each of which shall be in full force and effect.
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Retention Bonus Agreements. Between the date of this Agreement and the Closing Date, the Parent Seller and the Company will cause each of the Retention Bonus Agreements dated December 6, 2005 by and between the Company and each of Xxxxx Xxxx, Xxxxxx Xxxxx, Xxxxx Code, Xxxxx Xxxxx, Xxx Xxxxxxx, Xxxx Xxxx, Xxxx Xxxxx, Xxxxxxx Xxxxxx, and Xxxxxxxxx Xxxxxxx, respectively, to remain in full force and effect without any further modification or amendment thereto.
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Retention Bonus Agreements. The Buyer agrees that it or BSA will, after the consummation of the Closing, offer to enter into retention agreements in substantially the forms attached as Exhibits K-1 and K-2 hereto with all individuals named on Exhibit K who perform services for BSA and individuals named in Exhibit K who perform services for the Seller with respect to the Business and who accept the Buyer's offer of employment.
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Related to Retention Bonus Agreements

  • Retention Bonuses Provided Executive becomes and remains an active employee of Mercantile, Mercantile will pay Executive retention bonuses in accordance with the following schedule: (i) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following the Effective Time, (ii) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following six (6) months of Executive’s employment with Mercantile, (iii) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following twelve (12) months of Executive’s employment with Mercantile. After twelve (12) months of Executive’s employment with Mercantile, Executive will not be entitled to any further Severance or Retention benefits. The above-listed payments and benefits are in lieu of any and all payments and benefits to which Executive may otherwise have been entitled under the CIC Agreement or any other agreement or practice.

  • Retention Bonus (a) Subject to Sections 2(b), 2(c) and 2(d) below and your continued employment through the Determination Date (as defined below), you will be eligible to receive a Retention Bonus equal to the annual bonus you would have been eligible to receive under the Company’s Annual Incentive Plan based on the Company’s actual performance for 2023, as determined by the Compensation Committee of the Board of Directors (the “Committee”) following the completion of 2023, had you been a participant in the Annual Incentive Plan with a target bonus opportunity of up to 40% of your base salary (such amount as determined by the Committee, the “Retention Bonus”), which determination shall occur between January 1, 2024 and March 15, 2024 (the date of such determination, the “Determination Date”). The Retention Bonus, if any, will be paid in cash in a lump sum between January 1, 2025 and March 15, 2025. You will continue to be considered an employee of the Company for purposes of this letter agreement if you are on a Company- approved leave of absence. (b) In the event of a Change in Control during 2024, subject to your continued employment through the earlier of: (1) the Determination Date; or (2) the date of the Change in Control, you will be eligible to receive your Retention Bonus in cash in a lump sum within 10 days following the date of the Change in Control. (c) In the event of your Involuntary Termination (as defined in the Employment Agreement) on or after the Determination Date but on or prior to the date you have received the Retention Bonus, you will be eligible to receive your Retention Bonus in cash in a lump sum within 10 days following the effective date of your Release (as defined below). As a condition to your receipt of the Retention Bonus pursuant to this Section 2(c), you shall execute and not revoke a general release of all claims in favor of the Company and its affiliates (the “Release”) in the form attached to the Employment Agreement as Exhibit A. In the event the Release does not become effective within the 55-day period following the date of your Involuntary Termination, you shall not be entitled to the Retention Bonus. (d) If your employment terminates prior to the Determination Date for any reason, then this letter agreement will terminate, and you will forfeit any right you may have to receive the Retention Bonus.

  • Bonus Severance A lump-sum payment equal to 100% of the Executive’s target annual bonus as in effect for the fiscal year in which the CIC Qualified Termination occurs.

  • Retention Payment Subject to your compliance with Sections 6 and 7 of this letter agreement, if you remain an active full-time employee of the Company, Parent or any of their respective subsidiaries through the expiration of the 6-month period beginning on the day following the Closing Date (as defined in the Merger Agreement) (the “Vesting Date”), you will receive a cash payment equal to (i) the aggregate amount described in Section 6.2(a) of the Employment Agreement, determined as if your employment with the Company was terminated by the Company without Cause as of the Closing plus (ii) an amount equal to the portion of the premiums the Company would need to pay to provide you with the benefits under Sections 6.2(b) and (c) for the 12 month period following the Vesting Date, based on the premium costs in effect as of the Closing and assuming for this purpose that your employment terminated on the Vesting Date and that you timely elected to receive all such benefits, plus (iii) the Retention Bonus. The aggregate of these amounts will be paid to you in a lump sum on the third business day following the Release Effective Date (as defined below). You hereby agree that, notwithstanding anything contained in the Employment Agreement or any other agreement between you and the Company providing for severance or separation payments or benefits, you may either receive payment of amounts set forth in Section 2(a) or in Section 4, but in no event shall you be entitled to receive payment of both amounts; furthermore, you shall not be entitled to any severance or separation payments or benefits under the Employment Agreement (including under Sections 5 and 6 thereof) or under any other plan, program, policy, agreement or arrangement maintained by the Company, Parent or any of their respective affiliates, and all of your rights to such payments and benefits under the Employment Agreement and any such other plan, program, policy, agreement or arrangement will immediately terminate, in each case, except as otherwise provided herein. If you continue to be employed by Parent or its subsidiaries following the Vesting Date, you shall be eligible for severance benefits under either the applicable severance policy of Parent or one of its subsidiaries, as determined by Parent; provided, however, that you shall not receive credit for your service with Parent or the Company, or any of their respective subsidiaries, for the periods of employment that precede the Closing Date for any purpose under such policy, including eligibility, vesting or calculation of benefits.

  • Employment and Consulting Agreements Xxxxxxx X. Xxxx and Xxxx X. Xxxxxx shall have executed and delivered employment agreements with BRI, and Xxxxxx Xxxx shall have executed and delivered a Consulting Agreement with BRI.

  • Severance Payments 5.1 The Company shall pay the Executive the payments described in this Section 5.1 ("Severance Payments") upon the termination of the Executive's employment following a Change in Control during the term of this Agreement, including the Executive's termination of employment for Good Reason, unless such termination is (a) by the Company for Cause, or (b) by reason of the Executive's Death or Disability. The Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause if the Executive's employment is terminated prior to a Change in Control without Cause at the direction (or action which constitutes a direction) of a Person who has entered into an agreement with the Company the consummation of which will constitute a Change in Control. (i) Within three (3) business days after the Date of Termination, the Company shall make a lump sum or monthly, at the Executive's option, cash severance payment to the Executive in an amount equal to: (x) the Executive's annual base salary in effect immediately prior to the occurrence of the event or circumstance upon which the Notice of Termination is based or in effect immediately prior to the Change in Control; and (y) a pro-rated portion of Executive's Targeted Annual Bonus for the fiscal year in which the Date of Termination occurs. (ii) For a twelve (12) month period after the Date of Termination, the Company shall arrange to provide the Executive with medical and dental insurance benefits substantially similar to those that the Executive is receiving immediately prior to the Notice of Termination. Benefits otherwise receivable by the Executive pursuant to this Section 5.1(ii) shall be reduced to the extent comparable benefits are actually received by or made available to the Executive without cost during the twelve (12) month period following the Executive's termination of employment (and any such benefits actually received by the Executive shall be reported to the Company by the Executive). 5.2 The Company also shall pay to the Executive all legal fees and expenses incurred by the Executive in disputing the non-payment of Severance Payments in connection with a termination which entitles the Executive to Severance Payments. Such payments shall be made within five (5) business days after delivery of the Executive's written request for payment accompanied with such evidence of fees and expenses incurred as the Company reasonably may require.

  • Bonus Payments No employee shall be required or requested to make any written or verbal agreement that will conflict with the terms of this Agreement. All employees must be paid weekly for all hours worked as provided in this Agreement. Any bonuses, commissions or other methods of payments over and above the requirements of this Agreement shall be in addition to the requirements of this Agreement and may not be used to offset such contractual requirements and shall not be subject to negotiations.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Employment Agreements Each of the persons listed on Schedule 9.12 shall have been afforded the opportunity to enter into an employment agreement substantially in the form of Annex VIII hereto.

  • Prior Employment Agreements The Executive represents that he/she has not executed any agreement with any previous employer which may impose restrictions on Executive’s employment with the Employer.

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