Common use of Retention Bonus Payments Clause in Contracts

Retention Bonus Payments. (a) On the first regularly scheduled payroll day following December 31, 2022, Acquiror shall pay, or shall cause to be paid, to the individuals set forth on Schedule 7.6, through the payroll system of the Company, in the amounts set forth on the Estimated Closing Statement; provided, however, that if any such individuals are no longer employed by the Company, Acquiror, or any of their Affiliates as of such payment date, the amounts allocated to any such individuals on Schedule 7.6 shall be reallocated to the other individuals on Schedule 7.6 that are still employed by the Company, Acquiror or any of its Affiliates on such payment date (with such reallocation to be mutually agreed by the Seller Representative and Acquiror, which agreement shall not be unreasonably conditioned, delayed or withheld). (b) On the first regularly scheduled payroll day following December 31, 2023, Acquiror shall pay, or shall cause to be paid, to the individuals set forth on Schedule 7.6, through the payroll system of the Company, in the amounts set forth on the Estimated Closing Statement; provided, however, that if any such individuals are no longer employed by the Company, Acquiror, or any of their Affiliates as of such payment date, the amounts allocated to any such individuals on Schedule 7.6 shall be reallocated to the other individuals on Schedule 7.6 that are still employed by the Company, Acquiror or any of its Affiliates on such payment date (with such reallocation to be mutually agreed by the Seller Representative and Acquiror, which agreement shall not be unreasonably conditioned, delayed or withheld). (c) Payroll taxes on the payments made pursuant to this Section 7.6 shall be borne by the Acquiror.