Payment of Retention Bonuses. Provided that a person listed on Section 6.22 of the Company Disclosure Schedule (i) remains an employee of the Company or the Company’s Bank from the date hereof through the date after the Effective Time when that person’s job function has been converted or transitioned and (ii) does not accept employment with Parent, Parent’s Bank or another Subsidiary of Parent for any period subsequent to the Effective Time, Parent shall pay to such person the bonus compensation provided for such employee in Section 6.22 of the Company Disclosure Schedule.
Payment of Retention Bonuses. Provided that each proposed recipient remains an employee of the Company or the Company Bank from the date hereof through the later of (a) the Effective Time or (b) a date, chosen by Parent, not to exceed the earlier of thirty days after completion of data processing conversion or six months after the Effective Time (the “Eligibility Date”) (provided that such recipient shall remain eligible if his or her employment is terminated prior thereto without cause), the Company shall pay to each individual employee listed on Section 6.20 of the Company Disclosure Schedule hereof the bonus compensation provided for such employee on such schedule on the earlier of (i) termination of such employee’s employment by Company Bank or (ii) the Eligibility Date.
Payment of Retention Bonuses. Subject to Employee’s satisfaction of the requirements of Section 1 above, the applicable Retention Bonus shall be paid to Employee in a single lump sum amount in cash, net of applicable withholding, within fifteen (15) days following June 30, 2016, September 30, 2016 or December 31, 2016, as applicable.
Payment of Retention Bonuses. From and after the Closing, Purchaser shall cause the Company to pay out of the Bonus Pool Consideration through the Company’s payroll system the retention bonuses set forth in Section 6.05 of the Disclosure Schedules in each case, in the amount and otherwise in accordance with the terms of Section 6.05 of the Disclosure Schedules. Section 6.06
Payment of Retention Bonuses. In accordance with Section 23.1 of the Loan Agreement, and notwithstanding anything in the Loan Agreement to the contrary, the Administrative Agent and the Required Lenders hereby agree to waive compliance with Section 10.19 of the Loan Agreement, solely to the extent necessary to permit the Borrowers to pay those retention bonuses to the key employees of the Centerline Group listed on Exhibit C attached hereto (the “Retention Bonuses”). Promptly upon the declaration or payment of any Retention Bonus, the Borrowers will provide to the Administrative Agent a complete list of the recipient and amount of such Retention Bonus. The Borrowers hereby acknowledge and agree that, notwithstanding anything in the Loan Agreement or the Budget to the contrary, except for the Retention Bonuses contemplated hereby, any other bonus payments of any kind to any of the Borrowers’ employees shall be made solely with the prior written consent of the Required Lenders in the Required Lenders’ unrestricted discretion.
Payment of Retention Bonuses. At the Effective Time, and provided that each proposed recipient (i) remains an employee of the Company or the Company Bank from the date hereof through the date after the Effective Time when that person’s job function has been converted or transitioned and (ii) does not accept employment with Parent for employment thereafter, the Company Bank or another Subsidiary of Parent for any period subsequent to the Effective Time, the Company shall pay to each individual employee listed on Section 6.23 of the Company Disclosure Schedule hereof the bonus compensation provided for such employee on such schedule.
Payment of Retention Bonuses. Provided that a person listed on Section 6.27 of the NJCB Disclosure Schedule (i) remains an employee of NJCB from the date hereof through the date after the Effective Time when that person’s job function has been converted or transitioned and (ii) does not accept employment with 1st Constitution, the Bank or another Subsidiary of 1st Constitution for any period subsequent to the Effective Time, 1st Constitution shall pay to such person the bonus compensation provided for such employee in Section 6.27 of the NJCB Disclosure Schedule.
Payment of Retention Bonuses. Retention bonuses as set forth in Schedule 8(h) shall have been paid out by Mechanics on or prior to the Effective Date in an amount not to exceed $12,600 in the aggregate.
Payment of Retention Bonuses. Xxxxx shall deliver to Wellspring, as part of the advance by Xxxxx required for the month of April, 1999, under Section 5.4 of the Retained Client Services and Protection Agreement for expenses to be incurred by Wellspring during the month of April, 1999, readily available funds in an amount equal to fifty percent (50%) of 66 and 2/3 percent (66.667%) of the total amount of the retention bonuses to be paid in April, 1999 to the then employees of Wellspring (other than the Retained Client Employees) who were employees of Wellspring as of the Effective Closing Time. 7.8
Payment of Retention Bonuses. Notwithstanding any other provision hereof, the Bank shall have the right to pay retention bonuses in an aggregate amount not to exceed $273,000 to employees selected by the Bank’s Board of Director who remain employees of the Bank from the date hereof through the Closing Date; provided, however, with respect any employee that the Acquiror determines is critical for transition and/or system conversion following the Closing Date, the Bank shall work with the Acquiror to extend the retention period beyond the Closing Date for a period not to exceed sixty (60) days.
