Closing Retention Bonus definition

Closing Retention Bonus payable upon a change of control, or (ii) a “2007 Bonus” together with any applicable employer payroll taxes with respect to each such Closing Retention Bonus and 2007 Bonus. Such reimbursement shall be made within thirty (30) days of the Buyer providing Sellers with evidence of payment thereof and compliance with the payment obligations under the Retention Agreements (including, without limitation, a copy of the executed general release agreement with respect to each Transferred Employee listed on Schedule 4.4(e)(ii), each of which agreements shall be in a form reasonably satisfactory to Sellers). Buyer also shall provide such other information as Sellers shall reasonably request in order for Sellers to verify the payment of any such bonus and compliance with the payment obligations under the Retention Agreements. Buyer acknowledges and agrees that Sellers’ reimbursement obligations shall not extend to any amendments or changes to the Retention Agreements which increase the amounts payable thereunder.
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Examples of Closing Retention Bonus in a sentence

  • Bancshares agrees that Union may agree to pay a bonus to employees/officers of Union at Closing if such employee/officer stays until the Closing ("Retention Bonus"); provided, however, that the aggregate amount of such Retention Bonuses may not exceed $50,000, and provided that Bancshares shall approve all Retention Bonus agreements when the aggregate value of all Retention Bonus agreements exceeds $25,000.

  • The Closing Retention Bonus will be paid to you on the first regularly scheduled payroll date after the Closing.

  • The payment of the Closing Retention Bonus Amount in accordance with the Escrow Agreement shall be deemed for all purposes to have been paid after the Closing but prior to the end of the day on the Closing Date.

  • Any voluntary resignation by you or termination for cause based on poor performance or policy violation prior to the Closing, as determined by the Company in its discretion, will eliminate you from eligibility for and entitlement to the Closing Retention Bonus.

  • Buyer, KCC and Seller agree that, for avoidance of doubt, the ▇▇▇▇▇▇ Deferred Compensation Amount, the Closing Retention Bonus Amount and the bonuses paid by KCC to employees prior to or at Closing in accordance with Section 4.29(f) shall be reflected on Seller’s tax return that includes the Acquired Companies through the Closing Date.

  • Bancshares agrees that South Texas, CNB Delaware or CNB may agree to pay a bonus to employees/officers of South Texas, CNB Delaware or CNB at Closing if such employee/officer stays until the Closing ("Retention Bonus"); provided, however, that the aggregate amount of such Retention Bonuses may not exceed $25,000, and provided that Bancshares shall approve all Retention Bonus agreements when the aggregate value of all Retention Bonus agreements exceeds $10,000.