Employee Retention Program. If requested by Buyer in writing, the parties shall, at Buyer's expense, develop and implement an employee retention program, containing terms and conditions acceptable to Seller and Buyer, to incent current employees to remain employed by Seller through the Closing.
Employee Retention Program. 36 5.7. Forms 394................................................................................................36 5.8. Programming..............................................................................................36 5.9. Satisfaction of Closing Conditions.......................................................................36 5.10.
Employee Retention Program. Executive is scheduled to participate in the Key Employee Retention Program to be established by UST and Schwab immediately prior to the Effective Date ("Retention Program"), the key terms of which are attached as Exhibit D hereto, at a payment equal to $2.8 million, five-sixths in cash and one-sixth in a grant of Schwab stock options in accordance with the terms of Exhibit D.
Employee Retention Program. In accordance with the employee retention program established by Seller prior to the date hereof, Buyer shall notify and certify to Seller, as soon as practicable after November 1, 2000, specifying as to each Transferred Employee that remains permanently employed by Buyer as of such date (a "Retained Employee"), (i) such employee's name, (ii) such employee's base salary as paid by Seller as of the Closing Date and (iii) the amount of FICA and other Tax obligations to be incurred by Buyer as a result of Buyer's payments to Retained Employees under this Section 5.12, net of any tax benefit to Buyer relating thereto. Within five business days after receiving such notice from Buyer, Seller shall pay to Buyer an amount per Retained Employee equal to three months' base salary for such Retained Employee, based on the salary information specified under clause (ii) above (the "Bonus"), plus the aggregate amount of the obligations stated in clause (iii) above. Buyer shall remit Bonus amounts in their entirety to the respective Retained Employees as soon as practicable following receipt from Seller.
Employee Retention Program. Prior to the Effective Time, Citywide and Heartland will mutually agree on and establish an employee retention bonus program and will allocate pursuant to such program cash awards to certain Citywide Banks employees, as mutually determined by Citywide and Heartland, in order to incent such employees to remain in the employ of Citywide and its Affiliates through the Closing Date. Any amounts allocated to or paid pursuant to such program will constitute Transaction Expenses.
Employee Retention Program. At or prior to the Closing, if requested by Parent, the Company shall adopt an employee retention program, reasonably satisfactory in form and content to the Company and Parent, covering such employees as the Company and Parent may determine.
Employee Retention Program. Schedule 5.9(e) hereto is incorporated herein by reference.
Employee Retention Program. During the Pre-Closing Period, the Company will not modify its existing employee retention program delivered to and approved by Parent on the date of this Agreement (the "Retention Plan"), and will not adopt any employee retention plan without Parent's prior written consent. 4.8
Employee Retention Program. Unless Parent receives any contrary recommendations from existing management of the Company, Parent expects that the current employees of the Company will continue to be employees of the Company immediately after the Effective Time. Accordingly, Parent and the Company shall consult with each other with respect to the disclosure of the Merger to the employees of the Company.
Employee Retention Program. Purchaser and Seller shall use their mutual efforts to establish an employee retention program covering the employees identified on and incorporating the features identified in Exhibit F.
