Stay Incentive Sample Clauses

Stay Incentive. (a) Stay Bonus at Closing. Subject to the terms and conditions of this --------------------- Agreement: (1) if there is a Closing of the transactions contemplated in the Definitive Agreement, and (2) if the Key Employee has remained an employee "in good standing" (as hereinafter defined) of one or more Xxxx Atlantic Companies from the date of this Agreement to the Closing Date;

Stay Incentive. (a) Stay Incentive Bonus at Closing. If the Merger occurs pursuant to ------------------------------- the Definitive Agreement, and if the Key Employee has remained an "Employee in Good Standing" (as defined in Section 1(c) of this Agreement) of a Xxxx Atlantic Company from the date of this Agreement to the Closing Date, then, not later than 30 calendar days following the Closing Date, Xxxx Atlantic will cause the Xxxx Atlantic Company which then employs the Key Employee to pay the Key Employee a special stay incentive bonus (a "Stay Bonus") consisting of a single cash payment in an amount equal (before withholding of taxes) to the greater of (i) the sum of the Key Employee's annual rate of base salary and 50% of the Key Employee's maximum short-term incentive under the Xxxx Atlantic Short Term Incentive Plan (or other applicable short-term incentive plan), both as of the date of this Agreement, or (ii) the sum of such items, both as of the Closing Date.

Stay Incentive. If the Executive remains employed by the Corporation until May 31, 1998, the Executive will receive a stay incentive in the amount of $__________ (the "Stay Incentive"). The Stay Incentive will be paid in a single lump sum within ten days of May 31, 1998. The Stay Incentive will also be paid to the Executive if the Executive's employment with the Corporation is terminated by the Corporation other than for Cause (as defined in Section 14.6) any time after the Effective Date and prior to May 31, 1998, in which case the Stay Incentive will be paid upon the Executive's termination of employment.

Stay Incentive. (a) Stay Bonus on Second Anniversary of Closing: Subject to the ------------------------------------------- terms and conditions of this Agreement: -------------------------------------------------------------------------------- Employment Agreement Page 3 Xxxxxxxx X. Xxxxxx, Xx. (1) if there is a Closing of the transactions contemplated in the Definitive Agreement, and (2) if the Key Employee has remained an employee "in good standing" (as hereinafter defined) of a Xxxx Atlantic Company, or of a succession of two or more Xxxx Atlantic Companies, from the date of this Closing to the second anniversary of the Closing Date; then, unless such payment is deferred pursuant to Section 12(c), not later than 30 calendar days following such anniversary of the Closing Date, Xxxx Atlantic will cause the Xxxx Atlantic Company which then employs the Key Employee to pay the Key Employee a Stay Bonus in an amount equal (before withholding of taxes) to 100 percent of the Key Employee's Pay as of the second anniversary of the Closing Date.

Stay Incentive. (a) Stay Incentive Bonus at Closing. If the Merger occurs pursuant to ------------------------------- the Definitive Agreement, and if the Key Employee has remained an "Employee in Good Standing" (as defined in Section 1(c) of this Agreement) of a Xxxx Atlantic Company from the date of this Agreement to the Closing Date, then, not later than 30 calendar days following the Closing Date, Xxxx Atlantic will cause the Xxxx Atlantic Company which then employs the Key Employee to pay the Key Employee a special stay incentive bonus (a "Stay Bonus") consisting of a single cash payment in an amount equal (before withholding of taxes) to the greater of the Key Employee's annual rate of base salary on the date of this Agreement, or such salary as of the Closing Date.

Stay Incentive