Example ContractsClausesRetention Bonus
Retention Bonus
Retention Bonus contract clause examples

Retention Bonus. The Employment Letter is hereby amended to add the following as [Section 2(e)]:

Retention Bonus. The Executive shall be eligible to earn a retention bonus in the amount of five million dollars ($5,000,000) (the “Retention Bonus”).

Retention Bonus. Provided that the Employee continues to be employed by the Company for the period commencing on the Effective Date, and continuing through each applicable Retention Vesting Date described herein, the Employee shall be entitled to the payment of a retention bonus (each a “Retention Bonus” and collectively the “Retention Bonuses”), each in the gross amount of $1,144,000.00.

Retention Bonus. Employee is eligible to earn a retention bonus in the gross amount of Three Hundred Five Thousand Four Hundred Twenty-four and 00/100 Dollars ($305,424.00) (“Retention Bonus”) under the terms of this Agreement. If Employee remains employed through the Retention Date, the Retention Bonus will be paid to Employee within 15 days after September 30, 2020.

Retention Bonus. Unless you terminate your employment prior to December 21, 2018, you will receive a retention bonus of $79,000.00 as set forth in the Retention Bonus Agreement between you and the Company, dated January 25, 2018, in accordance with the terms of such agreement and the timing therein, if you execute and allow to become effective the General Release no earlier than the final date of your employment, or if you otherwise comply with all of your obligations thereunder.

Retention Bonus. In recognition of your continued service with Summit through and until the earlier of the date that # your employment with Summit has been terminated by Summit without Cause and # Summit has completed a Change in Control Event (the “Retention Period”), we are offering you a retention bonus in the amount of ​, less all applicable withholdings and deductions required by law (the “Retention Bonus”), subject to the following terms and conditions.

Retention Bonus. The Retention Bonus shall be $ # . The Retention Bonus will be paid in a lump sum cash payment within 30 days after the Retention Date, if Executive remains an employee of the Company through the payment date for the Retention Bonus.

Retention Bonus. Your Retention Bonus will be equal to six (6) months of your annual base salary in effect as of the Agreement Date, and will be earned by you provided that the Closing occurs and you remain actively employed with the Company, or an affiliate thereof, until the Closing and, if earned, will be payable to you in one lump sum cash payment on the first regularly scheduled payroll date following the Closing.

The aggregate amount of your potential Retention Bonus is $[●]. Subject to your continued employment with the Company through each applicable vesting date and the other terms and conditions set forth in this letter, your Retention Bonus will be paid in three installments as follows:

By way of this Agreement, Executive is eligible to receive a retention bonus equal to 50% of base salary, subject to all legally required withholdings and deductions, for each of the next two years. Specifically, Executive is eligible for a lump sum cash payment on the first anniversary of the Closing provided that he is employed by the Company as of such date in an amount equal to 50% of annual base salary in effect as of the first anniversary of the Closing (such sum, the “First Year Retention Bonus”). Executive is eligible for a lump sum cash payment on the second anniversary of the Closing provided that he is employed by the Company as of such date in an amount equal to 50% of his annual base salary in effect as of the second anniversary of the Closing (such sum, the “Second Year Retention Bonus”). Each retention bonus will fully vest upon completion of the applicable anniversary year (i.e., no longer subject to forfeiture) and will be paid to Executive in a lump sum within 45 days of each completed anniversary. Executive will not be eligible for the retention bonuses as set forth above if he is terminated for cause or he resigns prior to such applicable anniversary.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.