Key Employee Retention Program definition

Key Employee Retention Program means the key employee retention program described in the Debtors' January 13, 2003 Expedited Motion to Approve Key Employee Retention Program, which motion was approved by the Bankruptcy Court by order entered on January 23, 2003.

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Key Employee Retention Program means the current retention program of Pengrowth granting certain key employees the right to retention payments, as disclosed in the Disclosure Letter;

Key Employee Retention Program means the current retention program of Pengrowth granting certain key employees the right to retention payments;

Examples of Key Employee Retention Program in a sentence

• The "Effective Date" shall be the date that an Order of the Bankruptcy Court approving the Company's 2004 Key Employee Retention Program ("KERP") and payments provided for therein becomes final.

• The "Effective Date" shall be the date that an Order of the Bankruptcy Court approving the Company's 2003 Key Employee Retention Program ("KERP") and payments provided for therein becomes final.

• Subject to approval of the Key Employee Retention Program (the “KERP”) by the Bankruptcy Court the Executive shall be a participant in the KERP attached hereto as Exhibit A.

• Subject to the approval by the Board of Directors, the Company will prepare a retention program for the key employees of the Company including any equity incentive plan (“Key Employee Retention Program”) which shall be consistent with industry standards and present such Key Employee Retention Program to the Purchaser.

• The Parties shall discuss in good faith and agree on the Key Employee Retention Program before it is adopted and implemented, the Purchaser shall not unreasonably withhold its consent.

• Executive is scheduled to participate in the Key Employee Retention Program to be established by UST and Schwab immediately prior to the Effective Date ("Retention Program"), the key terms of which are attached as Exhibit D hereto, at a payment equal to $2.8 million, five-sixths in cash and one-sixth in a grant of Schwab stock options in accordance with the terms of Exhibit D.

• The Company has adopted a Key Employee Retention Program (“KERP”) which is intended to incentivize employees to remain employed by the Company for a defined period of time.

• In consultation with the Proposed Monitor and the CRO, Atis Group has developed a draft Key Employee Retention Program (the “KERP”), the terms and conditions of which are set out in the proposed Key Employee Bonus Agreement, filed as Exhibit P-12 (under seal).

• In addition to the Pressware Union Agreement, the Seller has caused the Company to adopt a retention program for key employees (the "Key Employee Retention Program").

• On the effective date of Foamex's plan of reorganization but not later than seven (7) days after such date, and in accordance with the Key Employee Retention Program (the "Program") as approved by the bankruptcy court, the Executive shall receive the amount of one hundred nine thousand, three hundred seventy five dollars ($109,375) less applicable withholdings as the total amount due and owing in accordance with the Program 6 Placement Services.

More Definitions of Key Employee Retention Program

Key Employee Retention Program shall have the meaning set forth in Section 4.15.

Key Employee Retention Program means the program established by Old WCG and the Borrower for the retention, stay, severance or similar employee benefit for, or related to, the senior executives and other specified employees, in order to accommodate, motivate and create appropriate incentives for such executives and such other specified employees to complete the Chapter 11 Reorganization of Old WCG and to retain key executives and employees who remain in the employ of the Borrower through the restructuring, as such program was amended as of July 26, 2002, or is hereafter amended in accordance with the terms and provisions of this Credit Agreement.

Key Employee Retention Program means the Key Employee Retention Program approved by the Bankruptcy Court by order dated June 29, 1998, as modified by order of the Bankruptcy Court dated October 21, 1998.

Key Employee Retention Program means the retention programs regarding employees of Seller as approved by the Bankruptcy Court.

Key Employee Retention Program means the program, pursuant to which certain senior managers and other employees will be eligible to receive payments totaling up to $300,000.00, at such time and upon such conditions as may be determined by the New Board.

Key Employee Retention Program means the Retention Program initially adopted in November of 1997 and subsequently amended which provides for the payment of retention bonuses (of varying amounts) by BAHS to certain key employees of the MHL Business (but not the senior officers who are covered by the Senior Officer Retention Program). Each retention bonus is payable within ten (10) days of the Closing Date. Eligibility for the bonus is subject to certain conditions, including that the key employee continue to be employed in the MHL Business up to the Closing Date.