Retention Bonus Award. Executive shall be granted restricted stock of Marathon Petroleum Corporation, valued in the amount of $ 1,000,000 as of the actual grant date. As will be provided in the applicable award agreement, the award will vest in full on the third anniversary of the grant date; provided, however, that except as provided below or in the applicable award agreement, Executive must be providing continuous service to Marathon Petroleum Corporation or any of its subsidiaries or Affiliates from the grant date through the applicable vesting date in order for the restricted stock award to vest. Notwithstanding the foregoing, the applicable award agreement will provide that the restricted stock contemplated under this Paragraph 3.b.iii shall become fully vested upon Executive's separation from service as a result of the forced relocation of Executive's principal place of employment to a location more than 50 miles from Executive's then-current principal place of employment. The award of restricted stock of Marathon Petroleum Corporation contemplated under this Paragraph 3.b.iii. shall be subject to the terms and conditions of the Marathon Petroleum Corporation 2012 Incentive Compensation Plan, as amended, attached hereto as Exhibit E, and the applicable award agreement, which shall be similar in form to the Marathon Petroleum Corporation 2012 Incentive Compensation Plan Restricted Stock Award Agreement, attached hereto as Exhibit F. Notwithstanding the foregoing, if any payment, or portion thereof, must be delayed to comply with Section 409A of the Code because Executive is a "specified employee" as defined in Section 409A(a)(2)(B)(i) of the Code, the payment, or the portion so delayed, shall be made on the soonest date permissible without triggering the additional tax due under Section 409A of the Code.
Retention Bonus Award. Subject to Employee’s continued employment with the Company, the Company shall pay Employee a retention award in the amount of One Hundred Thousand Dollars ($100,000) (the “Retention Award”) on March 1, 2019 (the “Payment Date”), subject to any and all applicable federal, state, local, foreign and/or other withholding taxes and all other authorized payroll deductions. Employee shall no longer be eligible for the Retention Award if Employee’s employment is terminated for any reason prior to the Payment Date. Notwithstanding the foregoing: (a) in the event that the Company terminates Employee’s employment without Cause (as defined in the Employment Agreement) or Employee resigns from employment with Good Reason (as defined in the Employment Agreement) prior to the Payment Date, then the Company shall pay Employee the Retention Award on the Payment Date; and (b) in the event that a Change in Control (as defined in the Employment Agreement) occurs prior to the Payment Date, then Employee shall become eligible for the Retention Award, and the Retention Award will be paid to Employee on the day immediately preceding the occurrence of a Change in Control.
Retention Bonus Award. The Retention Bonus shall be equal to $_______ (the “Retention Bonus”) and shall be paid by CresCom Bank, as successor by merger to the Bank (hereinafter, the “Bank”), in two installments. Unless this Agreement is previously terminated in accordance with paragraph 2 below, (i) one-half of the Retention Bonus shall be paid on the first payroll payment date of the Bank that occurs after the Effective Date of the Merger (as defined in the Merger Agreement) if you are employed by the Bank on the Effective Date, and (ii) the other half of the Retention Bonus shall be paid on the first payroll payment date of the Bank that occurs after the 180th day following the Effective Date if you are employed by the Bank on the 180th day following the Effective Date.
Retention Bonus Award. (a) The Employee is eligible for a lump sum cash payment equal to $370,000 (the “Retention Bonus”), less applicable withholding taxes. If the Employee remains an Employee in Good Standing (as defined below) through the date of the applicable payment, (i) $92,500 of the Retention Bonus, less applicable withholding taxes, will be paid to the Employee on August 31, 2023, (ii) $92,500 of the Retention Bonus, less applicable withholding taxes, will be paid to the Employee on October 31, 2023 and (iii) $185,000 of the Retention Bonus, less applicable withholding taxes, will be paid to the Employee on February 29, 2024. If the Employee is not an Employee in Good Standing on any of the above payment dates, the Employee shall not be eligible to receive any remaining portion of the Retention Bonus.
(b) For purposes of this Agreement, the Employee shall be considered to be an “Employee in Good Standing” on a given date if, on or before that date, (i) the Employee’s employment with the Company has not terminated for Cause (as defined in that certain Employment Agreement dated as of November 11, 2022, by and between the Employee and the Company (the “Employment Agreement”)), (ii) the Employee has not tendered oral or written notice of intent to resign or retire effective as of a date on or before the given date (other than for Good Reason (as defined in the Employment Agreement)), and (iii) the Employee has not engaged in actions which constitute a material breach of this Agreement.
Retention Bonus Award. In consideration for the severance benefits and consulting arrangements outlined herein, the Executive hereby waives her rights, if any, to a retention award and/or severance benefits under the Severance and Retention Agreement entered into between the Executive and Duke dated as of April 4, 2006 which agreement shall be null and void upon the effective date of this Agreement as determined in accordance with Section 6, without any further action by the parties hereto.
Retention Bonus Award. (a) Subject to the terms and conditions set forth in this Letter Agreement, you will be eligible to receive a retention bonus award (“Retention Award”) of restricted share units (“RSUs”) by Great Western under the Great Western Bancorp, Inc. 2014 Omnibus Incentive Compensation Plan, in the amount and on the date(s) set forth on Exhibit A to this Letter Agreement. The RSUs will only vest provided that you remain continuously employed by the Bank or one of its affiliates through the vesting date of the Retention Award. If the Bank terminates your employment without Cause (as defined below), prior to the vesting of your RSUs, you will be entitled to receive the value of your Retention Award in a lump sum cash payment within 60 days after the date of your termination of employment, provided that you execute and return a valid confidential general release agreement provided by Bank within the time period as specified by the Bank in the agreement (and if applicable, you do not revoke such agreement). If you terminate your employment for any reason or if the Bank terminates your employment for Cause, any unvested RSUs will be forfeited. If your employment ends due to a qualified Disability or Retirement, the RSUs will remain outstanding and vest on the applicable vesting date as if you had remained employed through the applicable vesting date.
Retention Bonus Award. (a) The Cash Retention Bonus shall be equal to $_____________ (the “Cash Retention Bonus”) and shall be paid by CresCom Bank, as successor by merger to First South Bank (hereinafter, the “Bank”), in two installments. Unless this Agreement is previously terminated in accordance with paragraph 2 below, (i) one-half of the Cash Retention Bonus shall be paid on the first payroll payment date of the Bank that occurs after the 90th day following the Effective Date of the Merger (as defined in the Merger Agreement) if the Employee is employed by the Bank on the Effective Date, and (ii) the other half of the Cash Retention Bonus shall be paid on the first payroll payment date of the Bank that occurs after the 180th day following the Effective Date if the Employee is employed by the Bank on the 180th day following the Effective Date.
(b) The Equity Retention Bonus shall be equal to _________________ shares of restricted common stock, par value $0.01 per share, of Carolina Financial (the “Equity Retention Bonus,” and together with the Cash Retention Bonus, the “Retention Bonus”). Assuming the Employee is employed by the Bank on the Effective Date, the Equity Retention Bonus shall be issued by Carolina Financial within 45 days following the Effective Date pursuant to the terms of the Carolina Financial Corporation 2013 Equity Incentive Plan, including the form of restricted stock award agreement attached thereto. Unless this Agreement is previously terminated in accordance with paragraph 2 below, the Equity Retention Bonus shall vest (i.e., the restrictions shall lapse) on the third anniversary of the Effective Date, provided that the Employee has provided continuous employment to the bank through such vesting date.
Retention Bonus Award. (a) Subject to the terms of this Agreement, the Company has granted you a cash retention bonus in the aggregate amount of U.S. $[____] (the “Retention Bonus”). Subject to your acceptance of this Agreement, including your repayment obligations, the Company will advance and prepay the Retention Bonus, net of applicable taxes and withholdings, on or before August 31, 2020.
(b) The Retention Bonus is subject to a service-based vesting condition and, except as otherwise provided herein, will be earned and vested provided you remain employed and in good standing through the earlier of (i) August 3, 2021, and (ii) the effective date of PDSA’s plan of reorganization or liquidation under chapter 11 of the Bankruptcy Code, or the date PDSA’s case under chapter 11 of the Bankruptcy Code is dismissed or converted to a case under chapter 7 of the Bankruptcy Code (such earlier date being the “Vesting Date”).
(c) You will be required to repay the Net After-Tax Value of the Retention Bonus in the event your employment with the Company is terminated (or you are under notice of such a termination) for Cause or as a result of your voluntary resignation (or providing notice of such a resignation) (other than as a result of death or Disability) without Good Reason prior to the Vesting Date. For the avoidance of doubt, if your employment terminates prior to the Vesting Date as a result of a Qualifying Termination prior to the Vesting Date and the condition set forth in Section 3 is satisfied, the Retention Bonus will be deemed earned and vested and will not be required to be repaid. Any required repayment of the Retention Bonus must be made promptly, and in all events within sixty (60) calendar days following the date of your termination of employment with the Company.
Retention Bonus Award. Based on the substantial completion of certain exit transactions in connection with the divestiture of the Fire & Security business of the Company, you will be paid your retention bonus under that certain Retention Bonus Letter provided to you by the Company on June 8, 2023 in the amounts set forth on Schedule I as soon as reasonably practicable, but in no event later than 60 days following, the effective date of the Release.
Retention Bonus Award. In consideration of Holder’s services and for other good and valuable consideration which the Board has determined, Customers hereby awards and assigns to the Holder, on the Grant Date, __________shares of Restricted Stock as an in-kind retention bonus award.
