Retention Bonus. In order to induce Employee to remain in Albany’s employ and to encourage him to remain so employed through and until (the “Retention Date”), Albany agrees to pay Employee a retention incentive in the manner, and according to the terms, set forth herein.
Retention Bonus. The Company agrees to pay Employee the retention bonuses as provided in this [Section 1].
Retention Bonus. The Company will pay you the Retention Bonus on or before March , 2020. Once paid to you, the Retention Bonus will vest and become non-forfeitable on the earlier of # and # the consummation of a Successful Transaction (as applicable, the “Vesting Date”), subject to your continued employment with the Company on the Vesting Date and the other terms and conditions set forth herein. You agree that in the event your employment with the Company terminates prior to the Vesting Date for any reason other than a Qualifying Termination, you will be required to repay to the Company one hundred percent (100%) of the After-Tax Value of the Retention Bonus within thirty (30) days of such termination. Notwithstanding anything to the contrary contained herein, in the event of your Qualifying Termination before the Vesting Date, subject to your execution and non-revocation of a customary release of claims in a form reasonably satisfactory to the Company within sixty (60) days of your Qualifying Termination date, you will not be required to repay to the Company any portion of the Retention Bonus that was paid to you prior to your Qualifying Termination date. For the avoidance of doubt, a leave of absence approved by the Company shall not constitute a termination of your employment for purposes of this Agreement.
Retention Bonus. If Employee meets all of the conditions and eligibility requirements set forth below, the Company shall pay Employee a bonus (the “Retention Incentive Bonus”) in the gross amount of , less applicable withholdings and deductions. The Retention Incentive Bonus will be paid as a lump sum, less applicable deductions and withholdings, within thirty (30) days following the earlier of: (the “Transition End Date”), or the termination of Employee by the Company without cause. The Company may withhold from any amounts payable under this Agreement such federal, state, or local taxes as shall be required to be withheld pursuant to any applicable law or regulation. The Retention Incentive Bonus should be viewed as an indication of the Company’s confidence in and appreciation of Employee’s abilities, and as an additional form of compensation to meet a special purpose. The Retention Incentive Bonus will be in addition to any other compensation or benefits (including without limitation severance benefits) that Employee may otherwise be eligible to receive, and is not a permanent or recurring element of Employee’s compensation, nor will it impact any other element of compensation for which Employee may otherwise be eligible.
Retention Bonus. Within thirty (30) calendar days following the Sale of the Company, the Company will pay the Executive a lump sum cash amount equal to seventy-five percent (75%) of his annualized base salary with AMC on the Effective Date or on the date of the Sale of the Company, whichever is greater, provided that the Executive has remained continuously employed by the Company or an affiliate of the Company until the Sale of the Company. Notwithstanding the foregoing, the Executive will be entitled to payment under this paragraph if the Executive’s employment with the Company is terminated without Cause or by the Executive for Good Reason, during the Term hereof and before a Sale of the Company.
Retention. As of the date hereof, the Company hereby retains and HFG hereby agrees to be retained as the Company’s advisor during the term of this Agreement. The Company acknowledges that HFG shall have the right, at its own expense, to engage third parties to assist it in its efforts to satisfy its obligations hereunder. Except as otherwise provided for herein, HFG shall not be responsible for any costs of services of any other third parties (including but not limited to legal counsel or other financial advisors) retained directly by the Company, its management and/or shareholders. In its capacity as an advisor to the Company, HFG is hereby agrees to:
The Retention Bonus will be payable within 30 days following the Retention Bonus Date. The Retention Bonus may be paid in cash, Common Stock or a combination of cash and Common Stock in ’s discretion. If the Retention Bonus is paid in Common Stock, shall have the right at its discretion to satisfy any applicable withholding taxes due upon payment of the Retention Bonus by withholding an appropriate number of shares of Common Stock otherwise issuable upon payment of the Retention Bonus.
Special Retention Bonus. Your potential Special Retention Bonus consists of two installments as follows:
“Employee Retention Bonus Letter Agreements” means, collectively, # that certain Employee Retention Bonus Letter Agreement by and between Srivas Prasad and JI dated , # that certain Employee Retention Bonus Letter Agreement by and between Ken Ostrander and JI dated , # that certain Employee Retention Bonus Letter Agreement by and between Fred Rheinlander and JI dated , # that certain Employee Retention Bonus Letter Agreement by and between John Berghammer and JI dated , and # that certain Employee Retention Bonus Letter Agreement by and between Matt Oberski and JI dated .
If you voluntarily leave the Company, or if the Company terminates your employment for cause, prior to Retention Date A and/or Retention Date B, you will not receive Retention Bonus A and/or Retention Bonus B.
Amount of Bonus. Subject to the payment schedule and provisions of Paragraph 5 below, Albany agrees to pay to Employee a retention bonus in a gross sum equal to (the “Retention Bonus”) by check or direct deposit, less applicable withholdings and deductions required by law, or otherwise agreed to by the parties.
Interaction with Other Arrangements. The Retention Bonus is a special payment to you, and expressly supersedes and replaces [any amounts to which you may be entitled under that certain cash bonus letter agreement, dated as of , by and between you and the Company (the “Prior Bonus Agreement”)] [any other retention bonus opportunity to which you may be entitled under any other agreement with the Company]; provided, however, that, for the avoidance of doubt, the Retention Bonus does not supersede, replace or modify any compensation or payments payable to you under the Employment Agreement. Neither the Retention Bonus nor payment thereof will be taken into account in computing the amount of salary or compensation for purposes of determining any bonus, incentive, pension, retirement, death or other benefit under any other bonus, incentive, pension, retirement, insurance or other employee benefit plan of the Company or its affiliates, unless such plan or agreement expressly provides otherwise.
“Transaction Bonus” means any amount payable to any employee, officer or director of any Target Company or any Seller and/or any Affiliate thereof (including the employer portion of any employment, payroll, social security, unemployment or other similar Taxes related to such amounts) in the nature of a sale or change in control bonus, retention bonuses, equity, severance, stock appreciation rights, phantom equity or similar payments as a result of the consummation of the transactions contemplated by this Agreement, including the Employee Retention Bonus Letter Agreements (provided that any severance payable under the Retention Bonus Letter Agreements after the Closing shall not be considered a Transaction Bonus hereunder).
Bonus. With respect to each fiscal year that ends during the Employment Term, commencing with fiscal year , the Executive shall be eligible to receive a bonus in such amounts and based upon achievement of such corporate and/or individual performance and other criteria as shall be approved by the Compensation Committee from time to time, with a target amount, if such performance and other criteria are achieved, of eighty-five percent (85%) of the Base Salary (the “Target Bonus Amount”), which bonus shall be paid in a manner consistent with the Company’s bonus practices then in effect. The Target Bonus Amount and the maximum payout for any subsequent renewal Term of the Agreement shall be determined by the Compensation Committee. To be eligible to receive a bonus, the Executive must be employed by the Company on the date the bonus is paid.
Bonus. During each year that this Agreement is in effect, Employee will be entitled to receive a bonus (“Bonus”) totaling at least per year. The Bonus shall be payable, first in a cash lump sum payment of at the conclusion of Employee’s first six (6) months of employment, and an additional no later than thirty (30) days after the end of the Employee’s first twelve (12) months of employment by the Company, such Bonus being subject to increases based upon the reasonable discretion of the majority of the board of directors of the Company or the designated committee(s) thereof.
Bonus. The Employee shall be eligible for an annual cash bonus, which shall be determined in good faith by the compensation committee of the Board in its sole discretion in connection with the annual meeting or other such time, as the case may be, as determined by such committee.
Bonus. You also shall be eligible to earn a bonus (“Bonus”) or a Pro-Rated Bonus (as defined in paragraph 19(e)(ii)), as applicable, determined as set forth below and in paragraph 19(e)(ii).
Bonus. The Executive shall be eligible to receive bonuses as set forth on [Schedule 3(a)] attached hereto, and further as determined by the Board of Directors.
Bonus. You are eligible for a bonus to be awarded in accordance with the Company’s bonus program as set and reviewed by the Board in its sole discretion. Your current target bonus amount is 25% of your annual salary, with eligibility up to 75% of your annual salary. For 2017, you will eligible for pro-rata portion of the bonus for the time which you are employed at the Company. No bonus payment will be paid later than March 15 of the year following the year in which it is earned. While bonuses may not be paid if, in the Board’s sole discretion, conditions are not met, your target bonus percentage will not be decreased without your prior consent.
Bonus. Executive will be eligible for an annual discretionary bonus of up to % of Executives Base Salary. Executives annual target bonus percentage, whether Executive receives an annual bonus for any given year, and the amount of any such annual bonus, will be determined by the Board in its sole discretion based upon the Companys and Executives achievement of objectives and milestones to be determined on an annual basis by the Board in consultation with Executive. Bonuses are generally paid by March 15 following the applicable bonus year, and Executive must be an active employee on the date any Annual Bonus is paid in order to earn any such Annual Bonus. Executive will not be eligible for, and will not earn, any Annual Bonus (including a prorated bonus) if Executives employment terminates for any reason before the date Annual Bonuses are paid.
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