Common use of Stay Put Bonus Clause in Contracts

Stay Put Bonus. a. Executive shall be entitled to a bonus ("Stay Put Bonus") of $125,000 if he remains an employee of the Company on each of January 1, 2001 and July 1, 2001 (or an aggregate of $250,000) or if Executive has been discharged without "Cause" (hereinafter defined) prior to each such date he will receive immediately any unpaid balance of the $250,000 Stay Put Bonus.

Appears in 3 contracts

Samples: Employment Agreement (Riviera Holdings Corp), Employment Agreement (Riviera Holdings Corp), Employment Agreement (Riviera Holdings Corp)

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Stay Put Bonus. a. Executive shall be entitled to a bonus ("Stay Put Bonus") of $125,000 87,500 if he remains an employee of the Company on each of January 1, 2001 and July 1, 2001 (or an aggregate of $250,000175,000) or if Executive has been discharged without "Cause" (hereinafter defined) prior to each such date date, he will immediately receive immediately any unpaid balance of the $250,000 175,000 Stay Put Bonus.

Appears in 1 contract

Samples: Employment Agreement (Riviera Holdings Corp)

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