Share Retention. Specified percentage Retention on every policy up to the Full Retention on a life.
Share Retention. (a) Employee agrees to retain 100% of (i) the shares currently owned by Employee, (ii) the shares acquired under Section 1, and (iii) the shares into which options owned by Employee are convertible, in each case, through December 31, 2018, subject, however, to the following. If Employee elects to exercise his options through a “cashless exercise”, Employee’s retained share requirement shall be reduced by that number of option shares retained by the Company in order to enable the cashless purchase of the Employee’s option shares and the withholding by the Company of the income taxes associated with such purchase.
(b) After December 31, 2018, Employee agrees not to sell that number of shares which would result in Employee’s total share ownership having a market value at the time of sale less than five (5) times Employee’s base compensation. This Section 2(b) shall not apply if Employee is no longer employed by either Employer or Hxxx.
(c) The number of shares required to be retained at any given time under this Section 2 is herein referred to as the “Employee Retention Requirement”.
(d) Employee shall be permitted solely for estate planning purposes to transfer shares otherwise required to be held under paragraphs (a) and (b) to trusts and similar entities whose sole beneficiaries are Employee, Employee’s spouse, siblings, parents and lineal descendants (“Estate Planning Vehicles”), subject, however, to such transferees agreeing in writing to continue to meet the Employee Retention Requirement with respect to any shares transferred to them.
Share Retention. Specified percentage Retention on every policy up to the Full Retention on a life. Reinsured Net Amount at Risk - The percentage of Automatic Reinsurance ceded to the Reinsurer as specified in Exhibit C or the percentage ceded as modified pursuant to the Facultative Reinsurance process times the remainder of (1) the Policy Net Amount at Risk less (2) the Retention on the policy.
Share Retention. Participant shall retain beneficial ownership of at least fifty percent (50%) of the Shares issued in connection with the vesting of this Award until such time as Participant is in compliance with the equity ownership guidelines that the Corporation from time to time establishes for its non-employee Board members. In no event may Participant sell or otherwise transfer beneficial ownership of more than fifty percent (50%) of the Shares issued to him or her under this Agreement, unless he or she is at the time of such sale or transfer in full compliance with the equity ownership guidelines in effect at that time for the non-employee Board members.
Share Retention. Any Credit Party fails to comply with any of its obligations set forth in Section 6 (Share Retention) of the Guarantee and Sponsor Support Agreement.
Share Retention. You agree to acquire and retain an ownership interest in Common Stock which is equal in value to three times the amount of your base salary in Paragraph 3(a). Shares counted for this purpose will consist of shares of Common Stock you own directly by whatever means acquired, shares under unvested RSUs that are subject only to time-based vesting, shares held in a 401(k) or similar plan, and shares acquired under the Company’s Employee Stock Purchase Plan. You will have five years from your start date in which to meet this stock ownership threshold. If at any time thereafter, while you remain CEO of the Company, your aggregate share ownership as defined in this Paragraph 3(d) should fall below the threshold, you agree to retain shares as they vest and you acquire them, and not to sell any of your shares of Common Stock, until your share ownership exceeds the threshold. In the event of a termination of your employment, or a Change-in-Control (as defined in Paragraph 5(d)), this Paragraph 3(d) shall become inapplicable.
Share Retention. I agree to acquire and retain an ownership interest in Common Stock which is, at any and all times, at least equal in value to three times the amount of my then-current base salary, as such amount may change from time to time. For purposes of satisfying this requirement, shares subject to unvested RSUs (whether or not such unvested RSUs are subject only to time-based vesting) shall not be counted as shares that I own. Except as modified herein, the provisions of Section 3(d) (Share Retention) of my Employment Agreement shall remain in effect. Sincerely,
Share Retention. Specified percentage Retention on every policy up to the full Retention on a life. Recapture - The process by which the Ceding Company recovers the liabilities transferred to the Reinsurer. Reinsurer - A company which contractually assumes all or part of the Ceding Company’s Risk.
Share Retention. At all times during the period commencing on the Subscription Date and ending on the fifth anniversary thereof, for so long as the Investors, as a group, hold the legal and beneficial ownership of 10% or more of the total issued Shares on a fully-diluted basis (among others):
Share Retention. The Parent, for so long as any obligation remains outstanding to any Financing Party under any Credit Agreement or any other Financing Document, (i) shall hold directly or indirectly through its Subsidiaries no less than fifty (50%) plus one (1) share of the aggregate Equity Interests and (ii) shall not (and shall procure that none of its Subsidiaries shall) dispose (or permit the disposal of) any Equity Interests if such disposal would result in a Change of Control.
