Executive Retention Agreements definition
Examples of Executive Retention Agreements in a sentence
There are no non-current liabilities of the Company or the Retained Subsidiaries in respect of the Former Executive Retention Agreements.
OFC and GCB shall mutually agree on the form of notification to be sent by GCB to its employees who are party to Executive Retention Agreements with OFC and GCB pursuant to the Merger Agreement and shall cooperate to timely notify those government agencies with which regulatory applications relating to the matters contemplated by the Merger Agreement were filed of the termination of the Merger Agreement.
All Tax deductions relating to (i) the payments under the Executive Retention Agreements (under the 1999 Bonus Plan and 2002 Bonus Plan) to the extent relating to payments made on or prior to the Closing Date and (ii) the portion of the Executive Sale Bonuses that are paid on the Closing Date, shall be for the benefit of the Sellers and shall be reported on the Tax Return of the Company and/or F&H LLC for the applicable tax period ending on or immediately prior to the Closing Date.
After the Closing, the Shareholder shall be obligated to remit the following (plus applicable employer Taxes) to the Company in connection with the Retention Agreement, the Supplemental Executive Retention Agreements and the Retention Plan (described in Section 5.11): (i) with respect to Retention Agreements and the Supplemental Executive Retention Agreements with Messrs.
Aggia further represents that it has been provided copies of the Executive Retention Agreements to be entered on the Effective Date between Muscle Maker and each of M▇▇▇▇▇▇ ▇▇▇▇▇, K▇▇▇▇ ▇▇▇▇▇, J▇▇▇▇▇▇▇ ▇▇▇▇▇, K▇▇▇ ▇▇▇▇▇▇ and A▇▇▇▇ ▇▇▇▇▇▇▇ (the “Retention Agreements”).
On such payment date, the Purchaser shall pay such amounts due under the Executive Retention Agreements in accordance with and subject to the terms and conditions of the applicable Executive Retention Agreement less any amounts required to be withheld or deducted under applicable Law, which amounts shall be timely remitted by the Purchaser to the applicable Governmental Authority.
Promptly upon notification by the Company of its intent to remit retention payments to the Company employees pursuant to the Retention Agreements, the Supplemental Executive Retention Agreements and/or the Retention Plan (subject to the dollar limitations described above) the Company and the Shareholder shall compute and agree upon the allocation of responsibility for such retention payments consistent with the provisions of this Section 11.16.
The Company has entered into separate Executive Retention Agreements, each dated August 24, 1994 (the "Company Retention Agreements"), with Scot▇ ▇.
In addition, the Company has entered into related trust agreements to provide for payment of amounts under its non-qualified deferred compensation plans and the Executive Retention Agreements.
The Offer constitutes a change of control within the meaning of the Executive Retention Agreements for Messrs.