Retention Plan definition
Examples of Retention Plan in a sentence
The Symantec Option will vest over a four-year period starting from your first day of employment with Symantec, at the rate of 25% of the option at the end of your first year of employment, and the balance in a series of 36 successive equal monthly installments upon your completion of each additional month of employment thereafter and will not be subject to acceleration except in accordance with the provisions of the Executive Retention Plan.
In addition, such benefits will be in lieu of any entitlement you may have to notice of termination, pay in lieu of notice of termination, or any other severance payment or benefit from any other Veritas or Symantec Employer source other than your benefits under the Executive Retention Plan.
You will also during your employment period with the Symantec Employer participate in the Symantec Executive Retention Plan or any successor plan.
The restrictive covenants set forth in this Section 11(e) shall apply during the period commencing on the Effective Date and ending on the later of (A) the first anniversary of the Termination Date or (B) solely if Executive is a participant in the Supplemental Executive Retirement and Retention Plan as of the Termination Date, the second anniversary of the Termination Date (such period, the “Restricted Period”).
The Contractor must maintain and adhere to the Employee Retention Plan (ERP) throughout the life of the contract.