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.
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”).
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.
Retention Bonus Agreements. Parent shall have executed and delivered a Retention Bonus Agreement to each of the Company employees listed on Schedule 7.02(m);
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.
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.
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.
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.
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.
Retention Bonus Agreements. Purchaser shall execute the Retention Bonus Agreements promptly (and in any event within three (3) Business Days) after the date each such Retention Bonus Agreement is executed by the applicable Company Employee who is a counterparty thereto. Without limiting the foregoing, Purchaser shall, and shall cause its Affiliates to, use its reasonable best efforts to take all actions necessary to effectuate the transactions contemplated by, and otherwise comply with, the Retention Bonus Agreements, including, to the extent permitted by Law, the filing of a registration statement on Form S-8 registering the issuance of the shares contemplated by the Retention Bonus Agreements.
