Common use of Retention Bonus Payments Clause in Contracts

Retention Bonus Payments. In lieu of the Recital A Benefits that may become due to Employee, the Company shall pay and Employee agrees to accept the following sums: (a) The Company will pay Employee the sum of $100,000, less applicable withholding taxes. This payment will be made on the latter of the Effective Date or the date the first payment of all or a portion of the April 6, 2001 scheduled payment is made to employees of the Company generally, pursuant to the Retention Incentive Plan adopted in May 2000, as amended. (b) On adoption of a plan of reorganization by the Company and approved by the court and creditors, the Company will pay Employee the sum of $50,000, less applicable withholding taxes, provided Employee remains an employee in good standing. (c) The Company will pay Employee the sum of $50,000, less applicable withholding taxes, on the first business day of January 2002, provided Employee remains an employee in good standing. Any unpaid amounts pursuant to Sections 4 (a), (b) and (c) shall be paid on the severance date if Employee is involuntarily terminated other than for cause before those respective dates.

Retention Bonus Payments. In lieu of the Recital A Benefits that may become due to Employee, the Company shall pay and Employee agrees to accept the following sums: (a) The Company will pay Employee the sum of $100,000150,000, less applicable withholding taxes. This payment will be made on the latter of the Effective Date or the date the first payment of all or a portion of the April 6, 2001 scheduled payment is made to employees of the Company generally, pursuant to the Retention Incentive Plan adopted in May 2000, as amended. (b) On adoption of a plan of reorganization by the Company and approved by the court and creditors, the Company will pay Employee the sum of $50,00075,000, less applicable withholding taxes, provided Employee remains an employee in good standing. (c) The Company will pay Employee the sum of $50,00075,000, less applicable withholding taxes, on the first business day of January 2002, provided Employee remains an employee in good standing. Any unpaid amounts pursuant to Sections 4 (a), (b) and (c) shall be paid on the severance date if Employee is involuntarily terminated other than for cause before those respective dates.

Retention Bonus Payments. In lieu of the Recital A Benefits that may become due to Employee, the Company shall pay and Employee agrees to accept the following sums: (a) The Company will pay Employee the sum of $100,000150,000, less applicable withholding taxes. This payment will be made on the latter of the Effective Date or the date the first payment of all or a portion of the April 6, 2001 scheduled payment is made to employees of the Company generally, pursuant to the Retention Incentive Plan adopted in May 2000, as amended. (b) On adoption of a plan of reorganization by the Company and approved by the court and creditors, the Company will pay Employee the sum of $50,00075,000, less applicable withholding taxes, provided Employee remains an employee in good standing. (c) The Company will pay Employee the sum of $50,00075,000, less applicable withholding taxes, on the first business day of January 2002, provided Employee remains an employee in good standing. Any unpaid amounts pursuant to Sections Section 4 (a), (b) and (c) shall be paid on the severance date if Employee is involuntarily terminated other than for cause before those respective dates.

Retention Bonus Payments. In lieu of the Recital A Benefits that may become due to Employee, the Company shall pay and Employee agrees to accept the following sums: (a) The Company will pay Employee the sum of $100,000250,000, less applicable withholding taxes. This payment will be made on the latter of the Effective Date or the date the first payment of all or a portion of the April 6, 2001 scheduled payment is made to employees of the Company generally, pursuant to the Retention Incentive Plan adopted in May 2000, as amended. (b) On adoption of a plan of reorganization by the Company and approved by the court and creditors, the Company will pay Employee the sum of $50,000125,000, less applicable withholding taxes, provided Employee remains an employee in good standing. (c) The Company will pay Employee the sum of $50,000125,000, less applicable withholding taxes, on the first business day of January 2002, provided Employee remains an employee in good standing. Any unpaid amounts pursuant to Sections 4 (a), (b) and (c) shall be paid on the severance date if Employee is involuntarily terminated other than for cause before those respective dates.

Retention Bonus Payments. In lieu of the Recital A Benefits that may become due to Employee, the Company shall pay and Employee agrees to accept the following sums: (a) The Company will pay Employee the sum of $100,000150,000, less applicable withholding taxes. This payment will be made on the latter of the Effective Date or the date the first payment of all or a portion of the April 6, 2001 scheduled payment is made to employees of the Company generally, pursuant to the Retention Incentive Plan adopted in May 2000, as amended. (b) On adoption of a plan of reorganization by the Company and approved by the court and creditors, the Company will pay Employee the sum of $50,00075,000, less applicable withholding taxes, provided Employee remains an employee in good standing. (c) The Company will pay Employee the sum of $50,00075,000, less applicable withholding taxes, on the first business day of January 2002, provided Employee remains an employee in good standing. Any unpaid amounts pursuant to Sections 4 (a), (b) and (c) shall be paid on the severance date if Employee is involuntarily terminated other than for cause before those respective dates.

Retention Bonus Payments. In lieu of the Recital A Benefits that may become due to Employee, the Company shall pay and Employee agrees to accept the following sums: (a) The Company will pay Employee the sum of $100,000300,000, less applicable withholding taxes. This payment will be made on the latter of the Effective Date or the date the first payment of all or a portion of the April 6, 2001 scheduled payment is made to employees of the Company generally, pursuant to the Retention Incentive Plan adopted in May 2000, as amended. (b) On adoption of a plan of reorganization by the Company and approved by the court and creditors, the Company will pay Employee the sum of $50,000150,000, less applicable withholding taxes, provided Employee remains an employee in good standing. (c) The Company will pay Employee the sum of $50,000150,000, less applicable withholding taxes, on the first business day of January 2002, provided Employee remains an employee in good standing. Any unpaid amounts pursuant to Sections this Section 4 (a), (b) and (c) shall be paid on the severance date if Employee is involuntarily terminated other than for cause before those respective dates.