Retention Bonus Program. Employee shall continue to participate in, and the Company agrees to assume, the Retention Package bonus program under the same terms as explained in the memorandum to Employee dated December 3, 1998 from Molecular Biosystems, Inc.
Retention Bonus Program. Employee will continue to participate in the Retention Package program as explained in the memorandum to Employee dated December 3, 1998.
Retention Bonus Program. HSB and Xxxxxxxx may implement a retention plan (the “HSB Retention Program”) for the benefit of certain employees and officers of HSB and Xxxxxxxx as determined by HSB, and in each case as agreed to by ABCB (which agreement will not be unreasonably withheld or delayed), which HSB Retention Program shall involve aggregate benefits to such employees and officers of up to $900,000 (or such greater amount as ABCB and HSB may agree), which shall be payable to such employees and officers that remain employed by HSB or its Subsidiaries until the Closing Date. ABCB may, in its sole discretion, establish a retention program focused on the retention of HSB and Xxxxxxxx employees and officers following the Closing Date (the “ABCB Retention Program”). HSB shall cooperate with ABCB, at ABCB’s request, in the development and implementation of the ABCB Retention Program.
Retention Bonus Program. The City agrees to implement a retention bonus program that will prepay a five percent (5%) annual bonus to the Sworn members of the Association on the last pay period of December. If an Association Member leaves within the year after receiving the bonus, that Member must reimburse the City a prorated share of that annual bonus.
Retention Bonus Program. The Company may (but is not obligated to), not later than five (5) business days before the Closing, designate a portion of the Merger Consideration to be separately funded by the Buyer within the Exchange Fund (the "Retention Bonus Fund") and paid as retention bonuses to those Company employees whose employment with the Surviving Corporation continues for six months after the Effective Time on terms to be specified by the Company prior to the Closing, provided that such arrangements are approved before the Closing by the Buyer, which approval shall not be unreasonably withheld or delayed, and such arrangements, including amounts needed to fund applicable employer and employee withholding requirements upon payment of the retention bonuses, do not increase the cash payments of the Merger Consideration otherwise payable by the Buyer under this Agreement. To the extent that such retention bonuses are not paid under the terms specified, the Exchange Agreement shall specify that the sums not paid will be promptly distributed to the holders of Company Shares in the proportionate amounts otherwise established by the Exchange Agreement.
Retention Bonus Program. (a) The Company shall as soon as reasonably practicable after the date hereof send a retention bonus offer letter substantially in the form attached hereto as Exhibit I (the “Retention Bonus Offer Letter”) to those individuals set forth on Schedule 6.14 (each a “Retention Bonus Participant” and collectively the “Retention Bonus Participants”) offering to pay such Retention Bonus Participant the retention bonus set forth opposite such Retention Bonus Participant’s name on Schedule 6.14 (each a “Retention Bonus Payment” and collectively, the “Retention Bonus Payments”), in each case subject to the terms and conditions set forth in the Retention Bonus Offer Letter.
Retention Bonus Program. Notwithstanding the provisions of Section 4.1(h), STC agrees that Camco may establish a retention bonus program for the
Retention Bonus Program. Notwithstanding the provisions of Section 4.1(h), STC agrees that Camco may establish a retention bonus program for the -43- benefit of certain named Continuing Employees ("Eligible Employees"), subject to the following limitations: The number of Eligible Employees shall not exceed 100. The total amount of retention bonuses potentially payable under the program shall not exceed $5 million. A retention bonus will only be paid to an Eligible Employee who remains in the employ of the STC Group until the first to occur of (i) the first anniversary of the Effective Time or (ii) the date such Eligible Employee's employment is involuntarily terminated other than for cause by any member of the STC Group. Documentation of the program (including the names and titles of the Eligible Employees and the amount of the retention bonus potentially payable to each Eligible Employee) shall be subject to the comment and advance approval of STC, which approval shall not unreasonably be withheld.
Retention Bonus Program. Prior to Closing, certain Shareholders may create a retention bonus program for the benefit of certain Company employees that will be funded solely out of payments of Contingent Cash Consideration otherwise payable to such participating Selling Shareholders. In the event such retention bonus program is to be implemented, Acquiror shall take such commercially reasonable action as requested by such participating Selling Shareholders to cooperate with the Company and such Selling Shareholders to structure and implement the retention pool in a Tax efficient manner, provided that Acquiror shall not be required to: (i) incur any material direct or indirect out of pocket expenses in connection with such retention bonus program (including, without limitation, any increased Tax liability), (ii) incur any additional amounts as a result of such action that are deemed to be an operating expense for the purpose of Acquirer’s publicly released operating results; or (iii) otherwise take any action that Acquiror determines in good faith is inconsistent with any applicable Laws, fiduciary duties of Acquiror or its Affiliates or Contracts binding on Acquiror or its Subsidiaries.
Retention Bonus Program. Seller has adopted the retention bonus program identified on Schedule 6.3. If the transactions contemplated by this Agreement are consummated, all costs associated with such retention bonus program shall be borne by Purchaser. If the transactions contemplated by this Agreement are not consummated, such costs shall be borne by Seller.
