Employee Retention Bonuses. Agent may pay, as an Expense, retention bonuses (“Retention Bonuses”) (which bonuses shall be inclusive of payroll taxes, but as to which no benefits shall be payable), up to a maximum of ten percent (10%) of base payroll for all Retained Employees, to such Retained Employees who do not voluntarily leave employment and are not terminated “for cause,” as it may determine in its discretion. The amount of such Retention Bonuses shall be in an amount to be determined by Agent, in its discretion, and shall be payable within thirty (30) days after the Sale Termination Date, and shall be processed through Merchant’s payroll system. Agent shall provide Merchant with a copy of Agent’s Retention Bonus plan within five (5) business days after the Sale Commencement Date.
Employee Retention Bonuses. In Agent's sole discretion Proceeds -------------------------- may be used to pay, as an Expense, retention bonuses ("Retention Bonuses") ----------------- (which bonuses shall be inclusive of payroll taxes but as to which no benefits shall be payable) to Retained Employees who do not voluntarily leave employment and are not terminated "for cause." Such Retention Bonuses shall be payable within thirty (30) days after the Sale Termination Date, and shall be processed through Merchant's payroll system.
Employee Retention Bonuses. Agent shall have the right to elect to pay, as an Expense, retention bonuses (each a "Retention Bonus") (which bonuses shall be inclusive of payroll taxes but as to which no benefits shall be payable), up to a maximum of 10% of base payroll (excluding SPIFFS), to certain Retained Employees who do not voluntarily leave employment and are not terminated "for cause". Subject only to limitation of 10% of base payroll (excluding SPIFFS), the actual to be paid to each such Retained Employee shall be in an amount to be determined by Agent, and shall be payable within thirty (30) days after the Sale Termination Date, and shall be processed through Merchant's payroll system. Agent shall provide Merchant with a copy of Agent's Retention Bonus plan upon execution of this Agreement.
Employee Retention Bonuses. Agent shall pay, as an Expense, retention bonuses ("Retention Bonuses") (which bonuses shall be inclusive of payroll taxes but as to which no benefits shall be payable), up to a maximum of 10% of base payroll, to certain Retained Employees who do not voluntarily leave employment and are not terminated "for cause". The amount of such Retention Bonuses, which will be payable within thirty (30) days after the Sale Termination Date, shall be in an amount to be determined by Agent, in its discretion, and shall be payable within thirty (30) days after the Sale Termination Date, and shall be processed through Merchant's payroll system. Agent shall provide Merchant with a copy of Agent's Retention Bonus plan within two (2) business days after the Sale Commencement Date. Agent shall not utilize the Retention Bonus as a mechanism to incentivize Retained Employees to act contrary to Merchant's best interests.
Employee Retention Bonuses. In Agent's sole discretion, Sale Proceeds may be used to pay, as an Expense, retention bonuses ("Retention Bonuses") (which bonuses shall be inclusive of payroll taxes but as to which no benefits shall be payable) to Retained Employees who do not voluntarily leave employment and are not terminated "for cause." Such Retention Bonuses shall be processed through Merchant's payroll system.
Employee Retention Bonuses. In Agent's sole discretion Proceeds may be used to pay, as an Expense, retention bonuses ("RETENTION BONUSES") (which bonuses shall be inclusive of payroll taxes but as to which no benefits shall be payable) ("RETENTION BONUSES") in an aggregate amount of up to 10% of base payroll for each Store (which amount is inclusive of payroll taxes and as to which no benefits shall be payable) to Retained Employees who do not voluntarily leave employment and are not terminated "for cause." Such Retention Bonuses shall be payable within thirty (30) days after the Sale Termination Date, and shall be processed through Merchant's payroll system.
Employee Retention Bonuses. 18 Section 10. Conditions Precedent.......................................18
Employee Retention Bonuses. Agent may, in its discretion, pay as an Expense retention bonuses (“Retention Bonuses”) (which bonuses shall be inclusive of payroll taxes but as to which no benefits shall be payable) up to approximately 10% of base payroll, to certain Retained Employees who do not voluntarily leave employment and are not terminated “for cause”. The amount of such Retention Bonuses, which will be payable within thirty (30) days after the Sale Termination Date, shall be in an amount to be determined by Agent, in its discretion, and shall be processed through Merchant’s payroll system. Agent shall not utilize the Retention Bonus as a mechanism to encourage Retained Employees to act contrary to Merchant’s best interests.
Employee Retention Bonuses. Promptly following the Closing, Buyer agrees to establish a retention bonus program under which the employees listed on Exhibit B hereto (each, an "Employee" and collectively, the "Employees") shall be entitled to receive retention bonuses in the aggregate amount of $100,000 (the "Retention Bonus"). The Retention Bonus shall be payable to each such Employee in the respective amount specified on Exhibit B hereto on the first anniversary of the Closing Date, provided, that, such Employee continues to be an employee or consultant of Buyer on such anniversary date. In the event that an Employee is no longer an employee or consultant of Buyer on such anniversary due to (x) a voluntary termination of such Employee or (y) an involuntary termination of such Employee for Cause (as defined in an Employment and Noncompetition Agreement of even date herewith by and between Employee and Buyer (the "Employment Agreement")), then such Employee's portion of the Retention Bonus indicated on Exhibit B hereto and otherwise payable to such Employee on such date shall be forfeited by such Employee and reallocated to Buyer. In the event that an Employee is no longer an employee or consultant of Buyer on such anniversary due to (x) an involuntary termination by such Employee for any reason other than for Cause, (y) if such Employee becomes Totally Disabled (as defined in the Employment Agreement) or (z) upon such Employee's death, then such Employee (or such Employee's estate, as applicable) shall be entitled to receive such Employee's portion of the Retention Bonus within ten (10) days following the first anniversary of the Closing Date.
Employee Retention Bonuses. 21 14.5 Preferential Treatment of Store and Warehouse Employees...................................21 Section 15. Representations, Warranties, Covenants and Agreements........21 15.1 Representations, Warranties, Covenants and Agreements of Merchant......................21 15.2 Representations, Warranties and Covenants of Agent....25
