Retention Bonus Plan. The purpose of a Retention Bonus Plan is to encourage active full-time employees to remain with the Company until their designated separation date. Employees who resign prior to their designated separation date are not eligible for this bonus. Effective the closure announcement date, Unifor represented full-time employees are entitled to a one time payout of 20% of their base annual salary at their designated separation date. If the designated separation date occurs in less than twelve (12) months, this amount is prorated. Also, they are entitled to 10% of their base monthly salary at their separation date paid for each month until their designated separation date. The designated separation date is defined by the Company. Example: Assume an annual salary of $66,000 (CAN) at the separation date ($5,500/month). Assume retention time of 18 months from the closure announcement date. Retention Bonus Plan = ($66,000 x 20%) + ($5,500 x 10% x 18 months) = $23,100.
Retention Bonus Plan. Within ninety (90) days of the Closing Date, Parent shall establish a retention bonus arrangement or plan (the “Retention Bonus Plan”) pursuant to which restricted stock units (collectively, “RSUs” and individually, an “RSU”) for 280,978 shares of Parent Common Stock (the “RSU Pool”) shall be granted by Parent to the Founders and the other Continuing Employees (collectively, the “RSU Recipients”). 25% of each RSU shall vest on the one-year anniversary of the Closing Date and the remainder shall vest in substantially equal installments each three-month period thereafter for the next three years, such that the RSUs are fully vested on the four-year anniversary of the Closing Date, subject in each case to an RSU Recipient’s continued full-time employment or service to Parent or an Affiliate of Parent or the Surviving Corporation on a vest date. The number of shares of Parent Common Stock subject to each RSU shall be determined, for each RSU Recipient, by multiplying (a) the RSU Pool by (b) the ratio determined by dividing (i) the number of shares of Company Stock and Company Stock Options held by such RSU Recipient immediately prior to the Effective Time, by (ii) the total number of shares of Company Stock and Company Stock Options held by all RSU Recipients immediately prior to the Effective Time, with any resulting fractional share rounded down to the nearest whole share of Parent Common Stock. In other respects, the RSUs shall be granted with terms and conditions consistent with the Parent Incentive Plan. Parent will file a Form S-8 registration statement with the Securities and Exchange Commission with respect to the shares issuable pursuant to the RSUs promptly following Parent’s 2012 Annual Meeting of Shareholders and the date on which Parent is able to satisfy the applicable legal requirements necessary to cause such registration to become effective, but in no event later than 75 calendar days after the Closing Date, or include the shares issuable pursuant to the RSUs in a presently effective registration statement. Parent will use commercially reasonable efforts to maintain the effectiveness of such registration statement or registration statements for so long as shares are issuable pursuant to the RSUs, and to the extent necessary, will reserve a sufficient number of shares of Parent Common Stock for issuance upon exercise or settlement thereof.
Retention Bonus Plan. “Retention Bonus Plan” shall mean the retention bonus program approved by the board of directors of the Company on May 31, 2015, which includes the retention bonus letter agreements issued to employees of the Acquired Companies thereunder.
Retention Bonus Plan. Pursuant to the terms of the Bonus Escrow Agreement, the Surviving Corporation agrees to provide HGHC with a list of the employees listed on Schedule 6.02 who either (a) remain employed by the Surviving Corporation as of such date, (b) shall have terminated his or her employment with the Surviving Corporation solely as a result of death or disability or, (c) shall have had his or her employment with the Surviving Corporation terminated by the Surviving Corporation for any reason other than for cause. Following receipt of such list, HGHC and Parent agree that the Bonus Escrow shall be paid to each of such persons in the respective amount set forth opposite such employee's name on Schedule 6.02 in accordance with the terms of the Bonus Escrow Agreement.
Retention Bonus Plan. During the Executive’s employment by the Company or its subsidiaries, the Executive shall continue to participate in the Hycroft Mining Corporation Retention Bonus Plan (“Retention Bonus Plan”). While the Executive participates in the Retention Bonus Plan and subject to the terms of such plan, the Executive shall be eligible to receive the Retention Bonuses outlined on Schedule A thereto, which includes the MIP Bonus that constitutes part of the Third Retention Bonus, as such terms are defined in the Retention Bonus Plan. For avoidance of doubt, an acquisition by MUDS pursuant to the Sale Transaction will trigger the payment to the Executive of the Third Retention Bonus, including the MIP Bonus. Notwithstanding the foregoing, the Company shall have the right to amend or terminate the Retention Bonus Plan at any time by resolution of the Board or Compensation Committee thereof; provided, however, that no amendment that would have an adverse effect on the Executive’s right to, or the amount of, a Retention Bonus shall be effective any earlier than the second anniversary of any such resolution, and provided, further, that the termination of the Retention Bonus Plan shall not be effective any earlier than the second anniversary of the adoption of any such resolution (except as required by Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)).
Retention Bonus Plan. You will be a “Participant” within the meaning of the Company’s Retention Bonus Plan, as the same may be amended from time to time in accordance with its terms.
Retention Bonus Plan. The Company shall annually update the Company’s Retention Bonus Plan which shall then be submitted to the Board for approval, such approval to include a majority of the directors designated by holders of Preferred Stock (the “Preferred Directors”).
Retention Bonus Plan. Executive shall be eligible to participate in the Company’s Retention Bonus Plan, as may be amended from time to time (the “Retention Plan”), and, subject to the terms of the Retention Plan, shall be eligible to receive 6.25 percent of the Bonus Pool Amount (as defined in the Retention Plan).
Retention Bonus Plan. Following the execution of this Agreement, the Company shall, if requested by MergerCo, implement an appropriate retention bonus plan on terms mutually agreeable to the Company and MergerCo. SECTION 6.12
Retention Bonus Plan. Following Executive’s employment date, Executive will be eligible to participate in the Company’s Retention Bonus Plan.
