Key Employee Retention Plan definition

Key Employee Retention Plan means the various employee retention plans adopted pursuant to and accordance with the Bankruptcy Court’s orders Docket Nos. 182 and 374 and all related documents and filings to the extent not inconsistent with such orders.

Key Employee Retention Plan means that certain Key Employee Retention Plan approved by the Court on May 12, 2016.

Key Employee Retention Plan means the Company’s key employee retention plan that is the subject of a motion to be filed by the Debtors in the Chapter 11 Cases seeking authority and approval therefor by the Bankruptcy Court and in form and substance reasonably satisfactory to the Requisite Supporting Noteholders and the Company and otherwise consistent with the Approved Budget (as defined in the DIP Credit Agreement);

Examples of Key Employee Retention Plan in a sentence

• In July 2003, the Company received bankruptcy court approval to implement a Key Employee Retention Plan (“KERP”), which provides cash incentives to certain members of the management team and other employees.

• Key Employee Retention Plan, (y) as to Mr. Lowy, the date upon which the Debtors' businesses or the Debtors' communications' segment is sold through a single transaction or series of related transactions, or (z) as to Mr. Russell, the date upon which the Debtors' businesses are sold through a single transaction or series of related transactions; and (ii) all portions of such excess amount that is attributable to the pension component of a SERP will be treated as a General Unsecured Claim.

• This Agreement supersedes any and all prior arrangements, understandings or agreements, whether written or oral, solely with respect to (i) the payment of any management incentive program bonus, including the MIP, and (ii) any Key Employee Retention Plan pending before the Bankruptcy Court.

• This Agreement supersedes all prior agreements and understandings (including verbal agreements) between Executive and the Company and/or its affiliates regarding the terms and conditions of Executive's employment with the Company and/or its affiliates (other than the Company's Change in Control Severance Pay Plan and the Company's Key Employee Retention Plan and the rights of Executive under such plans shall not be effected or limited by this Agreement).

• By orders dated December 20, 2002 and January 21, 2003, the Bankruptcy Court authorized the Debtors to continue existing and implement new retention and severance programs for their key employees, including a Prepetition Retention Plan and a Key Employee Retention Plan.

More Definitions of Key Employee Retention Plan

Key Employee Retention Plan means the plan being implemented by the Company to retain key employees providing for payments no greater than $200,000 individually or $1 million in the aggregate as more fully described in item 1 of Section 6.3(b) of the Company Disclosure Schedule.

Key Employee Retention Plan means that certain Non-Executive Key Employee Retention Plan of Seller and certain of its affiliated entities, solely to the extent approved by the Bankruptcy Court.

Key Employee Retention Plan. The Company's key employee retention plan for the year ended December 31, 2003, adopted subsequent to the Commencement Date.

Key Employee Retention Plan means a plan to be proposed by the Company to retain key employees pending consummation of the Bankruptcy Plan providing for payments no greater than $200,000 individually or $1 million in the aggregate.

Key Employee Retention Plan means the Key Employee Retention Plan of the Company adopted by the Committee on January 18, 2012 and as amended from time to time.

Key Employee Retention Plan means this Plan for compensating the Key Employees and other individuals approved by the Bankruptcy Court in the Order on Management Retention and Compensation Plan entered January 2, 2003, and attached hereto as Exhibit A.

Key Employee Retention Plan has the meaning set forth in Section 5.2(dd)(ii).