Common use of Special Retention Bonus Clause in Contracts

Special Retention Bonus. In consideration of the Executive entering into this Agreement, concurrent with the execution and delivery of this Agreement, the Company is paying the Executive a special retention bonus of $225,000.00 in cash. If the Executive resigns without Good Reason, or the Company terminates the Executive’s employment for Cause, prior to April 1, 2008, the Executive agrees to repay such special retention bonus to the Company within five business days of the date of his resignation or termination, together with interest from the date the Executive received the bonus (calculated at the prime rate as published in the Wall Street Journal on the date the Executive received the bonus) to the date of repayment. The Company acknowledges that the special retention bonus is in addition to, and not in lieu of, any regular incentive bonus plan in which the Executive may participate during the 2008 fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Acg Holdings Inc)

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Special Retention Bonus. In consideration of the Executive entering into this Agreement, concurrent with the execution and delivery of this Agreement, the Company is paying the Executive a special retention bonus of $225,000.00 325,000.00 in cash. If the Executive resigns without Good Reason, or the Company terminates the Executive’s employment for Cause, prior to April 1, 2008, the Executive agrees to repay such special retention bonus to the Company within five business days of the date of his resignation or termination, together with interest from the date the Executive received the bonus (calculated at the prime rate as published in the Wall Street Journal on the date the Executive received the bonus) to the date of repayment. The Company acknowledges that the special retention bonus is in addition to, and not in lieu of, any regular incentive bonus plan in which the Executive may participate during the 2008 fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Acg Holdings Inc)

Special Retention Bonus. In consideration of the Executive entering into this Agreement, concurrent with not later than three business days after the execution and delivery of this Agreement, the Company is paying the Executive a special retention bonus of $225,000.00 ___ in cash. If the Executive resigns without Good Reason, or the Company terminates the Executive’s employment for Cause, prior to April 1, 2008, the Executive agrees to repay such special retention bonus to the Company within five business days of the date of his resignation or terminationresignation, together with interest from the date the Executive received the bonus (calculated at the prime rate as published in the Wall Street Journal on the date the Executive received the bonus) to the date of repayment. The Company acknowledges that the special retention bonus is in addition to, and not in lieu of, any regular incentive bonus plan in which the Executive may participate during the 2008 fiscal year. This Agreement does not constitute an agreement by the Company to continue to employ you.

Appears in 1 contract

Samples: Retention Bonus Agreement (Acg Holdings Inc)

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Special Retention Bonus. In consideration of the Executive entering into this Agreement, concurrent with the execution and delivery of this Agreement, the Company is paying the Executive a special retention bonus of $225,000.00 in cash. If the Executive resigns without Good Reason, or the Company terminates the Executive’s employment for Cause, prior to April 1, 2008, the Executive agrees to repay such special retention bonus to the Company within five business days of the date of his her resignation or termination, together with interest from the date the Executive received the bonus (calculated at the prime rate as published in the Wall Street Journal on the date the Executive received the bonus) to the date of repayment. The Company acknowledges that the special retention bonus is in addition to, and not in lieu of, any regular incentive bonus plan in which the Executive may participate during the 2008 fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Acg Holdings Inc)

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