Inducement Payment definition

Inducement Payment shall have the meaning set forth in ‎Section 2.1(a)(vi)(B)(2).

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Inducement Payment means the cash payment to be made by the Company to a holder of Preferred Stock who is also a Purchaser who surrenders a duly completed and signed Notice of Conversion on the Closing Date in order to convert shares of a series of Preferred Stock into Common Stock in accordance with the existing terms of such series of Preferred Stock as set forth in the Company’s Amended and Restated Articles.

Inducement Payment means the payment paid to the Executive under Section 5 of the Prior Agreement.

Examples of Inducement Payment in a sentence

• You hereby acknowledge and agree that the payment of the Inducement Payment shall be in lieu of, and not in addition to, (A) any payments and benefits under any other severance, separation or other termination plan maintained by the Company, Xerox or any of their respective subsidiaries and (B) under any individual agreement between you and the Company.

• The Inducement Payment will not be considered part of your earnings for purposes of calculating current or future benefits under any compensation or benefit programs maintained or sponsored by the Company, Xerox or any of their respective subsidiaries, including retirement plans, 401(k) plans and other benefit plans.

• You hereby agree to exchange, discharge and settle your rights to any change in control severance pursuant to the Executive Agreement between you and the Company (such severance, the “CIC Severance”) for your rights with respect to the Inducement Payment (as defined in this Section A), subject to the terms and conditions set forth here.

• Except as specifically provided in Section E of this letter agreement, you must be actively employed on the third anniversary of the Closing in order to be entitled to the Inducement Payment.

• Seller shall have received, on or before the Closing, the Inducement Payment from Burger King in the amount of Two Million One Hundred Thousand and 00/100 Dollars ($2,100,000.00).

• In consideration for the guaranteed minimum 2007 bonus (as set forth in the Offer Letter), the Inducement Payment, the RSUs, and as a condition of your continued employment following the Closing, you hereby agree to the irrevocable discharge and settlement of all your rights with respect to the CIC Severance and to irrevocably waive certain benefits and rights as described herein.

• In consideration for the guaranteed minimum 2007 bonus (as set forth in the Offer Letter), the Inducement Payment, the senior advisor arrangement described in Section C and as a condition of your continued employment following the Closing, you hereby agree to the irrevocable discharge and settlement of all your rights with respect to the CIC Severance and to irrevocably waive certain benefits and rights as described herein.

• Each KBS Lease Termination Inducement Payment shall be so paid by wire transfer of immediately available federal funds to such wire transfer address as Purchaser shall provide to Seller in writing.

• For the avoidance of doubt, ▇▇▇▇▇ ▇▇▇▇ will remain obliged to pay any Inducement Payment (plus, for the avoidance of doubt, any amount in respect of VAT payable pursuant to clause 12) payable in accordance with clause 11 if this Agreement has been terminated pursuant to clause 13.1(f).

• Notwithstanding the foregoing, in the event that Tenant shall default in the performance of any its obligations hereunder during the first lease year and such default shall result in the termination of the Lease pursuant to Section 15 hereof, the Tenant Inducement Payment shall be recoverable by Landlord and, in such event, the same shall become immediately due and payable to Landlord as additional rent hereunder.

More Definitions of Inducement Payment

Inducement Payment shall have the meaning set forth in Section 2.2(a) hereof.

Inducement Payment means an amount in cash equal to the lesser of: (a) $7,000,000 or (b) Closing Cash less the Minimum Cash, which shall not be less than zero, that Loral shall pay to Red Isle in order to induce PSP and Red Isle to enter into the Integration Transaction.

Inducement Payment has the meaning given in clause 11.1;