Retention Compensation. The Company shall pay Employee an annual retention bonus, payable on December 31st of each calendar year during the Term, equal to 75% of the annualized Base Salary grossed up for federal, state, and local income and employment taxes (assuming the highest marginal tax rate), so that Employee shall receive an amount equal to 75% of the annualized Base Salary as if there were no federal, state, and local income tax and employment tax liability for such bonus (collectively, the “Retention Bonus”).
Appears in 3 contracts
Samples: Employment Agreement (Goodman Networks Inc), Employment Agreement (Goodman Networks Inc), Employment Agreement (Goodman Networks Inc)
Retention Compensation. The Company shall pay Employee Executive an annual retention bonus, payable on December 31st of each calendar year during the Term, equal to 75% of the annualized Base Salary grossed up for federal, state, and local income and employment taxes (assuming the highest marginal tax rate), so that Employee Executive shall receive an amount equal to 75% of the annualized Base Salary as if there were no federal, state, and local income tax and employment tax liability for such bonus (collectively, the “Retention Bonus”).
Appears in 2 contracts
Samples: Executive Employment Agreement (Goodman Networks Inc), Executive Employment Agreement (Goodman Networks Inc)