Common use of Retention Incentive Clause in Contracts

Retention Incentive. (a) Upon the earliest to occur of the following dates and events while the Employee is employed by the Company, the Employee shall be entitled to receive a lump sum cash payment of $50,000 (the "Retention Incentive"): (i) the termination of the Employee's employment by the Company other than for Cause; (ii) the termination of the Employee's employment by the Employee following the occurrence of a Material Employment Change; (iii) June 30, 1999; (iv) the Employee's death or Disability. (b) If the Employee's employment is terminated prior to June 30, 1999 by the Company for Cause or by the Employee other than (i) following a Material Employment Change or (ii) on account of the Employee's death or Disability, no Retention Incentive shall be paid to the Employee.

Retention Incentive. (a) Upon the earliest to occur of the following dates and events while the Employee is employed by the Company, the Employee shall be entitled to receive a lump sum cash payment of $50,000 25,000 (the "Retention Incentive"): (i) the termination of the Employee's employment by the Company other than for Cause; (ii) the termination of the Employee's employment by the Employee following the occurrence of a Material Employment Change; (iii) June 30, 1999;2000; or (iv) the Employee's death or Disability. (b) If the Employee's employment is terminated prior to June 30, 1999 2000 by the Company for Cause or by the Employee other than (i) following a Material Employment Change or (ii) on account of the Employee's death or Disability, no Retention Incentive shall be paid to the Employee.