Retention Incentive Payments Sample Clauses

Retention Incentive Payments. (a) Contingent upon the Closing and the Executive signing a general release of claims against the Company and its affiliates (in the form attached as Exhibit C) covering the period through the Closing, during the twenty-four month period commencing on Closing (the “Retention Period”), Executive shall receive retention payments on the dates and in the amounts specified in Exhibit B (each such payment, a “Retention Payment”) so long as, as of the date on which the relevant Retention Payment is to be made Executive is an employee of the Company, or his employment has terminated as provided in Article II below. For the avoidance of doubt, except as provided in Article II below, Executive shall not be entitled to any pro-rata payments for any partial periods of employment. Furthermore, to the extent that the pro rata annual stub bonus is reflected in the Retention Payments, in no event shall Executive be entitled to a regular bonus for such period. (b) At the end of the Retention Period, unless the parties agree otherwise in writing, the Executive’s employment shall terminate and he shall receive all accrued amounts through such date and a pro rata portion of any annual bonus and long term incentive plan amounts at target based on the period he worked during the measuring cycle. In addition, Executive shall be entitled to welfare benefits as provided under Section 8(f) of the Employment Agreement commencing on termination of employment for any reason whatsoever.
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Retention Incentive Payments. Contingent upon the Closing and the Executive signing a general release of claims against the Company and its affiliates (in the form attached as Exhibit C) covering the period through the Closing, during the twenty-four month period commencing on Closing (the “Retention Period”), Executive shall receive retention payments on the dates and in the amounts specified in Exhibit B (each such payment, a “Retention Payment”) so long as, as of the date on which the relevant Retention Payment is to be made Executive is an employee of the Company, or his employment has terminated as provided in Article II below. For the avoidance of doubt, except as provided in Article II below, Executive shall not be entitled to any pro-rata payments for any partial periods of employment. Furthermore, to the extent that the pro rata annual stub bonus is reflected in the Retention Payments, in no event shall Executive be entitled to a regular bonus for such period. Executive shall be entitled to welfare benefits as provided under Section 8(f) of the Employment Agreement commencing on termination of employment for any reason whatsoever.
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Retention Incentive Payments. Sellers shall make the payments set forth on Section 4.7 of the Disclosure Schedules to the extent payable in connection with the Closing.
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Retention Incentive Payments. Contingent upon the Closing, and the Executive signing a compromise agreement (in the form attached as Exhibit D), during the twenty-four month period commencing on Closing (the “Retention Period”), Executive shall receive retention payments on the dates and in the amounts specified in Exhibit B (each such payment, a “Retention Payment”) so long as, as of the date on which the relevant Retention Payment is to be made Executive is an employee of the Company or his employment has terminated as provided in Article II below. For the avoidance of doubt, except as provided in Article II below, Executive shall not be entitled to any pro-rata payments for any partial periods of employment. In addition, Executive shall be entitled to private health insurance and life insurance as provided under Clause 3.2(ii) of the Supplemental Agreement commencing on termination of employment for any reason whatsoever, provided that in the event that the Company is precluded from continuing such provision it shall provide the Executive with a cash sum equal to such amount as would enable the Executive to purchase such provision.
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Retention Incentive Payments. The parties recognize that retention and recruitment of commissioned officers in Washington State Patrol is challenging in the current economic climate. Our Lieutenants and Captains are highly trained and valuable law enforcement officers providing leadership and mentorship across the agency and the State faces the prospect of losing them to other law enforcement agencies.
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Retention Incentive Payments. To retain the services of Executive, the Company shall pay to Executive the following retention payments, less applicable withholding and authorized deductions: · If Executive continues to be employed through March 31, 2009, within fifteen days thereafter he shall receive a retention incentive payment of $91,667.00 · If Executive continues to be employed through June 30, 2009, within fifteen days thereafter he shall receive a retention incentive payment of $91667.00 · If Executive continues to be employed through September 30, 2009, within fifteen days thereafter he shall receive a retention incentive payment of $91,666.00 If Executive ‘s employment terminates other than as a result of termination by the Company without cause, prior to an above date, he shall not receive the retention payments due for continuation of employment after the date of his termination. If Executive’s employment is terminated by the Company without cause prior to any such date, he shall also receive the retention payments he would have received as if he continued to be employed by the Company through September 30, 2009, subject to the requirements of a release as specified in Section 4.7(b). In the event of termination without cause, payment of the retention payments not previously paid shall be accelerated and shall be made not later than the first normal Company payday that is at least 15 days after the date on which his rights to revoke the release required by Section 4.7(b) expire. Notwithstanding the above, if the Executive’s workweek is reduced as provided in Section 1.3, then the payments hereunder shall be adjusted on a pro rata basis for any portion of the first nine months of 2009 that Executive is not working full-time.
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Retention Incentive Payments. (1) Upon successful completion of Xxxxxx’x initial five (5) year term as Athletic Director (i.e., through June 6, 2014), Xxxxxx shall receive a single lump sum payment of $250,000 payable within 30 days of June 6, 2014, provided that Xxxxxx is employed as Athletic Director at Kansas State University on June 6, 2014. In the event that Xxxxxx is terminated pursuant to Paragraph 13 of this Agreement, Xxxxxx shall receive $50,000 for each 12-month period completed (calculated beginning June 6, 2009), payable within 30 days of termination. In the event Xxxxxx is no longer Athletic Director for any reason(s) other than termination pursuant to Paragraph 13 during the initial five (5) year term of his first Employment Agreement, Xxxxxx shall forfeit any such retention incentive and any funds set aside by KSA/University shall remain the sole property of KSA/University. (2) Upon successful completion of Xxxxxx’x last two years as Athletic Director (i.e., June 30, 2014 through July 1, 2016) under this Agreement, Xxxxxx shall receive a single lump sum payment of $150,000 payable within 30 days of June 30, 2016, provided that Xxxxxx is employed as Athletic Director at Kansas State University on June 30, 2016. In the event that Xxxxxx is terminated pursuant to Paragraph 13 of this Agreement, Xxxxxx shall receive $75,000 for each Contract Year completed (calculated beginning July 1, 2014), payable within 30 days of termination. In the event Xxxxxx is no longer Athletic Director for any reason(s) other than termination pursuant to Paragraph 13 during the term of this Agreement, Xxxxxx shall forfeit any such retention incentive and any funds set aside by KSA/University shall remain the sole property of KSA/University. (3) Xxxxxx shall bear sole responsibility for the payment of taxes incurred on such payments. Xxxxxx agrees to save, hold harmless and indemnify KSA, University, their affiliates, and all officers, directors, trustees, employees, or agents of the foregoing from and against any and all taxes, penalties, interest, or other costs, including, but not limited to, costs of legal counsel and accounting professionals, assessed against or incurred by any of the indemnified parties in connection with any audit, litigation, or other controversy involving in any way these retention incentive payments. Notwithstanding the foregoing, Xxxxxx covenants and agrees to perform all duties and responsibilities provided in this Agreement in exchange for the Annual Salary. Accordin...
Sample 1
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Related to Retention Incentive Payments

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then (a) Members who are rated at Level II in all phases of the PFT will receive three hundred dollars ($300.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (2) For any calendar year in which fifty percent (50%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then: (a) Members who are rated at Level II in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive nine hundred dollars ($900.00) in a one-time lump sum payment. (3) All lump sum payments referenced herein will be paid in February of the following year.

  • Bonus Payments No employee shall be required or requested to make any written or verbal agreement that will conflict with the terms of this Agreement. All employees must be paid weekly for all hours worked as provided in this Agreement. Any bonuses, commissions or other methods of payments over and above the requirements of this Agreement shall be in addition to the requirements of this Agreement and may not be used to offset such contractual requirements and shall not be subject to negotiations.

  • Severance Payments 5.1 The Company shall pay the Executive the payments described in this Section 5.1 ("Severance Payments") upon the termination of the Executive's employment following a Change in Control during the term of this Agreement, including the Executive's termination of employment for Good Reason, unless such termination is (a) by the Company for Cause, or (b) by reason of the Executive's Death or Disability. The Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause if the Executive's employment is terminated prior to a Change in Control without Cause at the direction (or action which constitutes a direction) of a Person who has entered into an agreement with the Company the consummation of which will constitute a Change in Control. (i) Within three (3) business days after the Date of Termination, the Company shall make a lump sum or monthly, at the Executive's option, cash severance payment to the Executive in an amount equal to: (x) the Executive's annual base salary in effect immediately prior to the occurrence of the event or circumstance upon which the Notice of Termination is based or in effect immediately prior to the Change in Control; and (y) a pro-rated portion of Executive's Targeted Annual Bonus for the fiscal year in which the Date of Termination occurs. (ii) For a twelve (12) month period after the Date of Termination, the Company shall arrange to provide the Executive with medical and dental insurance benefits substantially similar to those that the Executive is receiving immediately prior to the Notice of Termination. Benefits otherwise receivable by the Executive pursuant to this Section 5.1(ii) shall be reduced to the extent comparable benefits are actually received by or made available to the Executive without cost during the twelve (12) month period following the Executive's termination of employment (and any such benefits actually received by the Executive shall be reported to the Company by the Executive). 5.2 The Company also shall pay to the Executive all legal fees and expenses incurred by the Executive in disputing the non-payment of Severance Payments in connection with a termination which entitles the Executive to Severance Payments. Such payments shall be made within five (5) business days after delivery of the Executive's written request for payment accompanied with such evidence of fees and expenses incurred as the Company reasonably may require.

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

  • Severance Payment If, during the Employment Term at any time during the period of twelve (12) consecutive months following the occurrence of a Change in Corporate Control, the Executive is involuntarily terminated (other than for Cause) or the Executive terminates his employment for Good Reason, then subject to compliance with the restrictive covenants in Section 9 and Section 10 and the execution and timely return by the Executive of the Release, the Executive shall be entitled to receive a lump sum severance payment equal to the present value of a series of monthly payments for twenty-four (24) months, each in an amount equal to one-twelfth (1/12th) of the sum of (i) the Executive’s Base Salary, as in effect at the time of the Change in Corporate Control, and (ii) the average of the annual bonuses paid to the Executive for the prior two fiscal years of the Company ending prior to the Change in Corporate Control, if any. Such present value shall be calculated using a discount rate equal to the interest rate on 90-day Treasury bills, as reported in the Wall Street Journal (or similar publication) on the date of the Change in Corporate Control. Such lump sum payment shall be made to the Executive within sixty (60) days following the date of such involuntary termination. In addition, if during the Employment Term within twelve (12) months after a Change in Corporate Control the Executive is involuntarily terminated (other than for Cause) or the Executive terminates his employment for Good Reason, he shall be entitled to continued coverage at the Company’s expense under any health insurance programs maintained by the Company in which the Executive participated at the time of his termination, which coverage shall be continued for eighteen (18) months or until, if earlier, the date the Executive obtains comparable coverage under a group health plan maintained by a new employer. To the extent the benefits provided under the immediately preceding sentence are otherwise taxable to the Executive, such benefits, for purposes of Section 409A of the Code (and the regulations and other guidance issued thereunder) shall be provided as separate monthly in-kind payments of those benefits, and to the extent those benefits are subject to and not otherwise excepted from Section 409A of the Code, the provision of the in-kind benefits during one calendar year shall not affect the in-kind benefits to be provided in any other calendar year.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

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