Retention Bonus Pool. Parent shall agree to the payment by Company of up to $1,000,000 to be distributed to certain Company employees. The names of such employees, the bonus amounts to be paid and the timing of payment of such amounts shall be determined by mutual agreement of Parent and Company prior to the Effective Time. Each employee receiving a retention bonus pursuant to this Section 6.8 shall, prior to payment, sign a retention bonus agreement in form and substance agreeable to Parent and Company.
Retention Bonus Pool. Prior to the Closing, the Company shall establish a program of discretionary retention bonuses up to $300,000 in the aggregate to be granted to certain key employees, and with such other terms as it may designate, in each case, in mutual agreement with Acquiror, pursuant to a retention bonus plan and/or retention bonus agreements (the “Retention Program”). At least thirty (30) days prior to the Closing, the Company shall provide Acquiror with copies of all retention bonus plans, retention bonus agreements, a schedule of each outstanding retention bonus granted under the Retention Program and all relevant vesting and payment terms. Notwithstanding the foregoing, no Person eligible to receive severance benefits or other payment triggered by the Merger under an employment, change in control, severance, salary continuation agreement or other agreement (a “CIC Payment”) shall be entitled to participate in the Retention Program described in this Section 5.12.
Retention Bonus Pool. Seller shall have funded an escrow account at Xxxxx Fargo Bank, National Association with $1,235,000 for the purpose of funding retention bonuses to be paid by Seller in the amounts specified, and to those employees, consultants and independent contractors of Seller listed, on Schedule 7.13 who complete a one-year term of employment with, or service to, Buyer after the Closing specified on such Schedule (the “Retention Bonus Pool”). Buyer and Seller agree that any portion of the Retention Bonus Pool not paid out in bonuses to Buyer employees shall be paid to Seller ten business days after the first anniversary of the Closing.
Retention Bonus Pool. The parties will establish a retention bonus pool of not more than $50,000 in the aggregate for Bay Banks and Virginia BanCorp that will be dedicated to certain employees designated by the parties for purposes of retaining such employees prior to and after the Effective Time.
Retention Bonus Pool. Buyer will establish a retention bonus pool in the amount of US$360,000 in which each holder of unvested Company Options will be entitled to participate on a pro rata basis in accordance with the ratio of such holder’s number of unvested Company Options to the total number of unvested Company Options, in each case on the Closing Date. Such retention bonus pool will be paid out over a period of not more than one year after the Closing Date, and participants in such retention bonus pool will be required to execute only a Retention Bonus Agreement, substantially in the form set forth in Exhibit F, in connection with such participation.
Retention Bonus Pool. Following the Closing, Purchaser will distribute the Retention Bonus Pool to the Transferred Employees in accordance with the terms and conditions set forth on Exhibit B.
Retention Bonus Pool. (a) Prior to Closing, the Company shall establish a program of discretionary retention bonuses (the “Retention Bonuses”) up to $30,000,000 in the aggregate (the “Bonus Pool”) to be granted to certain key employees selected by the Company and with such other terms as it may designate, in each case, in its sole discretion after consulting in good faith with the Chief Executive Officer of Parent pursuant to a retention bonus plan and/or retention bonus agreements (the “Retention Program”). Upon the Closing, Parent shall deposit, or cause to be deposited into a segregated, interest-bearing account of the Surviving Corporation, separate from and not commingled with the general funds of the Surviving Corporation (the “Bonus Account”) an amount equal to the Bonus Pool Amount.
Retention Bonus Pool. Premier shall set aside a pool of funds in the range of $125,000 to $175,000 (the “Retention Bonus Pool”) that shall be distributed to certain Albemarle First employees (whose names shall be determined by mutual agreement of Premier and Albemarle First prior to the Closing Date).
Retention Bonus Pool. In the event that the Company has, on August 1, 1997, an insufficient amount of cash on hand to fund the retention bonus pool of $1,000,000 accrued in respect of the fiscal year ended May 31, 1997 and payable to participants therein on August 1, 1997 (the "Retention Bonus Pool"), Buyer agrees to provide to the Company an amount in cash equal to the Retention Bonus Pool; provided, however, that such amount to be provided by Buyer shall not exceed $1,000,000.
Retention Bonus Pool. BFST, in consultation with PBI, shall establish a retention bonus pool, in the amount to be determined in the sole discretion of BFST, in order to encourage certain PBI’s employees to remain with BFST, thereby assisting BFST with continuity planning following the consummation of the transactions contemplated by this Agreement.
