Examples of Retention Bonus Amount in a sentence
The foregoing shall be in addition to and not in limitation of any excuses for nonperformance available to Magnelab under the Uniform Commercial Code or any other applicable law.
The Company’s obligation to pay Employee the amounts provided and to make the arrangements provided hereunder shall not be subject to set-off, counterclaim or recoupment of amounts owed by Employee to the Company or its affiliates other than any amounts as may be owed by Employee with respect to the Retention Bonus Amount under the Company’s Annual Bonus Plan.
This Agreement is unfunded and the Retention Bonus Amount is subject to a substantial risk of forfeiture and thus is not intended to qualify as deferred compensation for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).
Furthermore, the payment of the Retention Bonus Amount is intended to be exempt from the requirements of Section 409A of the Code as a “short-term deferral” as described in Section 409A of the Code, and the provisions regarding such payment shall be interpreted accordingly.
The Retention Bonus Amount shall be earned in four equal installments (each, an “Installment”), as follows: • Executive will be entitled to receive twenty five percent (25%) of the Retention Bonus Amount if Executive is employed by the Company in good standing and in a full-time capacity on September 15, 2011.