{"component": "clause", "props": {"groups": [{"snippet": "(a) On the first regularly scheduled payroll day following December 31, 2022, Acquiror shall pay, or shall cause to be paid, to the individuals set forth on Schedule 7.6, through the payroll system of the Company, in the amounts set forth on the Estimated Closing Statement; provided, however, that if any such individuals are no longer employed by the Company, Acquiror, or any of their Affiliates as of such payment date, the amounts allocated to any such individuals on Schedule 7.6 shall be reallocated to the other individuals on Schedule 7.6 that are still employed by the Company, Acquiror or any of its Affiliates on such payment date (with such reallocation to be mutually agreed by the Seller Representative and Acquiror, which agreement shall not be unreasonably conditioned, delayed or withheld).\n(b) On the first regularly scheduled payroll day following December 31, 2023, Acquiror shall pay, or shall cause to be paid, to the individuals set forth on Schedule 7.6, through the payroll system of the Company, in the amounts set forth on the Estimated Closing Statement; provided, however, that if any such individuals are no longer employed by the Company, Acquiror, or any of their Affiliates as of such payment date, the amounts allocated to any such individuals on Schedule 7.6 shall be reallocated to the other individuals on Schedule 7.6 that are still employed by the Company, Acquiror or any of its Affiliates on such payment date (with such reallocation to be mutually agreed by the Seller Representative and Acquiror, which agreement shall not be unreasonably conditioned, delayed or withheld).\n(c) Payroll taxes on the payments made pursuant to this Section 7.6 shall be borne by the Acquiror.", "snippet_links": [{"key": "regularly-scheduled", "type": "clause", "offset": [17, 36]}, {"key": "payroll-day", "type": "clause", "offset": [37, 48]}, {"key": "on-schedule", "type": "definition", "offset": [154, 165]}, {"key": "payroll-system", "type": "definition", "offset": [183, 197]}, {"key": "of-the-company", "type": "clause", "offset": [198, 212]}, {"key": "estimated-closing-statement", "type": "definition", "offset": [246, 273]}, {"key": "employed-by-the-company", "type": "definition", "offset": [337, 360]}, {"key": "payment-date", "type": "definition", "offset": [410, 422]}, {"key": "allocated-to", "type": "definition", "offset": [436, 448]}, {"key": "other-individuals", "type": "clause", "offset": [514, 531]}, {"key": "the-seller-representative", "type": "clause", "offset": [692, 717]}, {"key": "payroll-taxes", "type": "definition", "offset": [1622, 1635]}, {"key": "made-pursuant-to", "type": "clause", "offset": [1652, 1668]}, {"key": "section-76", "type": "clause", "offset": [1674, 1685]}, {"key": "by-the-acquiror", "type": "clause", "offset": [1701, 1716]}], "size": 5, "samples": [{"hash": "a9XOXMo6j4b", "uri": "/contracts/a9XOXMo6j4b#retention-bonus-payments", "label": "Stock Purchase Agreement (Revelyst, Inc.)", "score": 35.0396995544, "published": true}, {"hash": "cE306ThDFoI", "uri": "/contracts/cE306ThDFoI#retention-bonus-payments", "label": "Stock Purchase Agreement (Outdoor Products Spinco Inc.)", "score": 34.6755638123, "published": true}, {"hash": "jgOywd3QqWd", "uri": "/contracts/jgOywd3QqWd#retention-bonus-payments", "label": "Stock Purchase Agreement (Outdoor Products Spinco Inc.)", "score": 34.5195083618, "published": true}], "hash": "f81c2f5e3633981b00f3cb4b41a063eb", "id": 2}, {"snippet": "In lieu of the Recital A Benefits that may become due to Employee, the Company shall pay and Employee agrees to accept the following sums:\n(a) The Company will pay Employee the sum of $300,000, less applicable withholding taxes. This payment will be made on the latter of the Effective Date or the date the first payment of all or a portion of the April 6, 2001 scheduled payment is made to employees of the Company generally, pursuant to the Retention Incentive Plan adopted in May 2000, as amended.\n(b) On adoption of a plan of reorganization by the Company and approved by the court and creditors, the Company will pay Employee the sum of $150,000, less applicable withholding taxes, provided Employee remains an employee in good standing.\n(c) The Company will pay Employee the sum of $150,000, less applicable withholding taxes, on the first business day of January 2002, provided Employee remains an employee in good standing. Any unpaid amounts pursuant to this Section 4 (a), (b) and (c) shall be paid on the severance date if Employee is involuntarily terminated other than for cause before those respective dates.", "snippet_links": [{"key": "in-lieu-of", "type": "clause", "offset": [0, 10]}, {"key": "a-benefits", "type": "clause", "offset": [23, 33]}, {"key": "to-employee", "type": "definition", "offset": [54, 65]}, {"key": "the-company-shall", "type": "clause", "offset": [67, 84]}, {"key": "agrees-to", "type": "clause", "offset": [102, 111]}, {"key": "the-company-will", "type": "clause", "offset": [143, 159]}, {"key": "sum-of", "type": "clause", "offset": [177, 183]}, {"key": "applicable-withholding-taxes", "type": "clause", "offset": [199, 227]}, {"key": "the-effective-date", "type": "clause", "offset": [272, 290]}, {"key": "payment-of", "type": "clause", "offset": [313, 323]}, {"key": "a-portion", "type": "definition", "offset": [331, 340]}, {"key": "scheduled-payment", "type": "clause", "offset": [362, 379]}, {"key": "the-company-generally", "type": "clause", "offset": [404, 425]}, {"key": "plan-adopted", "type": "clause", "offset": [463, 475]}, {"key": "as-amended", "type": "definition", "offset": [489, 499]}, {"key": "plan-of-reorganization", "type": "definition", "offset": [522, 544]}, {"key": "by-the-company", "type": "clause", "offset": [545, 559]}, {"key": "by-the-court", "type": "clause", "offset": [573, 585]}, {"key": "employee-in-good-standing", "type": "definition", "offset": [716, 741]}, {"key": "day-of", "type": "clause", "offset": [855, 861]}, {"key": "unpaid-amounts", "type": "clause", "offset": [936, 950]}, {"key": "section-4", "type": "definition", "offset": [968, 977]}, {"key": "severance-date", "type": "clause", "offset": [1016, 1030]}, {"key": "if-employee", "type": "definition", "offset": [1031, 1042]}, {"key": "involuntarily-terminated", "type": "definition", "offset": [1046, 1070]}, {"key": "other-than-for-cause", "type": "definition", "offset": [1071, 1091]}], "size": 6, "samples": [{"hash": "kJIAziGgRtn", "uri": "/contracts/kJIAziGgRtn#retention-bonus-payments", "label": "Compensation Agreement (Finova Group Inc)", "score": 16.0, "published": true}], "hash": "3e77cb24f081f33f12afdd81a41ec902", "id": 1}, {"snippet": "CenterState shall pay to the individuals set forth on HCBF Disclosure Schedule Section 5.24 (each a \u201cRetention Bonus Recipient\u201d) the cash retention bonus payments set forth on HCBF Disclosure Schedule Section 5.24, subject to required tax withholdings (the \u201cCenterState Retention Bonus\u201d). The CenterState Retention Bonus shall be payable through CenterState\u2019s payroll system in a single lump sum (a) in the case of employees, on the earlier of (i) the ninetieth (90th) day following the Closing, but only if the Retention Bonus Recipient continues to be employed by CenterState or its Subsidiaries on such date or (ii) the date on which the Retention Bonus Recipient\u2019s employment with CenterState or its Subsidiaries is terminated by CenterState or such Subsidiary without \u201ccause,\u201d by the Retention Bonus Recipient for \u201cgood reason\u201d or on account of the Retention Bonus Recipient\u2019s death or \u201cdisability\u201d (as such terms are defined in the agreement memorializing the CenterState Retention Bonus, which shall be in a form reasonably acceptable to each of HCBF and CenterState), but only if such termination occurs following the Closing, or (b) in the case of non-employee directors, at the Closing.", "snippet_links": [{"key": "pay-to", "type": "definition", "offset": [18, 24]}, {"key": "disclosure-schedule", "type": "definition", "offset": [59, 78]}, {"key": "retention-bonus-recipient", "type": "definition", "offset": [101, 126]}, {"key": "cash-retention-bonus", "type": "clause", "offset": [133, 153]}, {"key": "subject-to", "type": "definition", "offset": [215, 225]}, {"key": "tax-withholdings", "type": "clause", "offset": [235, 251]}, {"key": "payroll-system", "type": "definition", "offset": [360, 374]}, {"key": "lump-sum", "type": "clause", "offset": [387, 395]}, {"key": "in-the-case", "type": "clause", "offset": [400, 411]}, {"key": "of-employees", "type": "clause", "offset": [412, 424]}, {"key": "following-the-closing", "type": "clause", "offset": [473, 494]}, {"key": "the-retention", "type": "clause", "offset": [508, 521]}, {"key": "employed-by", "type": "definition", "offset": [554, 565]}, {"key": "good-reason", "type": "clause", "offset": [820, 831]}, {"key": "in-the-agreement", "type": "clause", "offset": [931, 947]}, {"key": "employee-directors", "type": "clause", "offset": [1161, 1179]}, {"key": "at-the-closing", "type": "definition", "offset": [1181, 1195]}], "size": 3, "samples": [{"hash": "8g7n7jGfTyZ", "uri": "/contracts/8g7n7jGfTyZ#retention-bonus-payments", "label": "Merger Agreement (CenterState Banks, Inc.)", "score": 28.6167011261, "published": true}, {"hash": "2jvpA2NP9xs", "uri": "/contracts/2jvpA2NP9xs#retention-bonus-payments", "label": "Merger Agreement (CenterState Banks, Inc.)", "score": 28.6167011261, "published": true}, {"hash": "20MFhQyHUH4", "uri": "/contracts/20MFhQyHUH4#retention-bonus-payments", "label": "Merger Agreement (HCBF Holding Company, Inc.)", "score": 28.6167011261, "published": true}], "hash": "209f454703461b20e6eefbdd51b57e09", "id": 3}, {"snippet": "Subject to the conditions set forth below:\n(a) if you remain an employee of the Company in good standing through June 1, 2014, you shall be entitled to receive a lump-sum cash payment during the following regular pay period equal to $80,310 (such cash payment, the \u201c2014 Mid-Year Retention Bonus\u201d).\n(b) if you remain an employee of the Company in good standing through October 1, 2014, you shall be entitled to receive an additional lump-sum cash payment during the following regular pay period equal to $80,310 (such cash payment, the \u201c2014 Year-End Retention Bonus\u201d).\n(c) if you remain an employee of the Company in good standing through June 1, 2015, you shall be entitled to receive an additional lump-sum cash payment during the following regular pay period equal to 20% of your base salary in effect on June 30, 2015 (such cash payment, the \u201c2015 Retention Bonus\u201d).", "snippet_links": [{"key": "the-conditions", "type": "clause", "offset": [11, 25]}, {"key": "in-good-standing", "type": "clause", "offset": [88, 104]}, {"key": "to-receive", "type": "definition", "offset": [149, 159]}, {"key": "cash-payment", "type": "definition", "offset": [171, 183]}, {"key": "regular-pay-period", "type": "clause", "offset": [205, 223]}, {"key": "equal-to", "type": "definition", "offset": [224, 232]}, {"key": "retention-bonus", "type": "definition", "offset": [280, 295]}, {"key": "october-1", "type": "definition", "offset": [369, 378]}, {"key": "an-additional", "type": "clause", "offset": [419, 432]}, {"key": "base-salary", "type": "definition", "offset": [784, 795]}, {"key": "in-effect", "type": "clause", "offset": [796, 805]}], "size": 3, "samples": [{"hash": "lIFMel1z3vz", "uri": "/contracts/lIFMel1z3vz#retention-bonus-payments", "label": "Retention Bonus Award and Severance Agreement (Aveo Pharmaceuticals Inc)", "score": 23.1943874359, "published": true}], "hash": "1f1c2caf03545a332979e3ed54e600fe", "id": 4}, {"snippet": "Chiron shall promptly pay when due all payments to employees of the Company and its Subsidiaries under the Chiron Retention Plan, Chiron Transaction Team Program and the Executive Amendment to the Company's Global Severance Program described in Schedule 4.16; provided that in the case of the Executive Amendment to the Company's Global Severance Program, Chiron's responsibility shall be limited to the amount by which the payments required under such Executive Amendment exceed the amounts that would have been required had the Company's Global Severance Program not been so amended.", "snippet_links": [{"key": "pay-when-due", "type": "clause", "offset": [22, 34]}, {"key": "the-company-and-its-subsidiaries", "type": "clause", "offset": [64, 96]}, {"key": "retention-plan", "type": "definition", "offset": [114, 128]}, {"key": "team-program", "type": "clause", "offset": [149, 161]}, {"key": "to-the-company", "type": "definition", "offset": [190, 204]}, {"key": "severance-program", "type": "definition", "offset": [214, 231]}, {"key": "provided-that", "type": "clause", "offset": [260, 273]}, {"key": "in-the-case", "type": "clause", "offset": [274, 285]}, {"key": "of-the-executive", "type": "clause", "offset": [286, 302]}, {"key": "payments-required", "type": "clause", "offset": [424, 441]}], "size": 2, "samples": [{"hash": "hYGV790uyja", "uri": "/contracts/hYGV790uyja#retention-bonus-payments", "label": "Stock Purchase Agreement (Chiron Corp)", "score": 18.0, "published": true}, {"hash": "hUn1FE1C7rJ", "uri": "/contracts/hUn1FE1C7rJ#retention-bonus-payments", "label": "Stock Purchase Agreement (Bausch & Lomb Inc)", "score": 18.0, "published": true}], "hash": "4cb63533159da9563aa0f434d37a37d3", "id": 5}, {"snippet": "Subject to the WABC disclosure letter, ValliCorp shall not make retention bonus payments without WABC's consent (which shall not be unreasonably withheld). To that end, the parties shall cooperate in all reasonable respects to, by mutual agreement, identify those persons who shall receive retention bonus payments. Such retention bonus payments shall be payable to those persons identified pursuant to the foregoing sentence in accordance with the terms of retention agreements, which agreements shall be in a form reasonably acceptable to WABC.", "snippet_links": [{"key": "subject-to-the", "type": "clause", "offset": [0, 14]}, {"key": "disclosure-letter", "type": "definition", "offset": [20, 37]}, {"key": "the-parties-shall", "type": "clause", "offset": [169, 186]}, {"key": "by-mutual-agreement", "type": "clause", "offset": [228, 247]}, {"key": "payments-shall-be", "type": "clause", "offset": [337, 354]}, {"key": "payable-to", "type": "definition", "offset": [355, 365]}, {"key": "pursuant-to-the-foregoing", "type": "clause", "offset": [391, 416]}, {"key": "in-accordance-with", "type": "clause", "offset": [426, 444]}, {"key": "retention-agreements", "type": "clause", "offset": [458, 478]}], "size": 2, "samples": [{"hash": "eZTQngW7wMj", "uri": "/contracts/eZTQngW7wMj#retention-bonus-payments", "label": "Merger Agreement (Westamerica Bancorporation)", "score": 18.0, "published": true}], "hash": "a4541d54f4186362c0fb38c2de7484b6", "id": 6}, {"snippet": "64 (k) Notification re: Book Value Test ................. 64 5.4 Closing .................................................. 64 (a) Closing Date ..................................... 64 (b)", "snippet_links": [{"key": "notification-re", "type": "clause", "offset": [7, 22]}, {"key": "value-test", "type": "clause", "offset": [29, 39]}, {"key": "closing-date", "type": "definition", "offset": [131, 143]}], "size": 2, "samples": [{"hash": "1PdRKWplaTc", "uri": "/contracts/1PdRKWplaTc#retention-bonus-payments", "label": "Agreement and Plan of Reorganization (Vallicorp Holdings Inc)", "score": 18.0, "published": true}], "hash": "d6f8b974dd9833df72dd118e4b93f8a9", "id": 7}, {"snippet": "You will be eligible to receive three separate retention bonus payments for services during the Term. These are as follows:", "snippet_links": [{"key": "to-receive", "type": "definition", "offset": [21, 31]}, {"key": "during-the-term", "type": "clause", "offset": [85, 100]}], "size": 1, "samples": [{"hash": "1obJCxsiVhk", "uri": "/contracts/1obJCxsiVhk#retention-bonus-payments", "label": "Transition Services Agreement (Dynegy Inc.)", "score": 18.5989055634, "published": true}], "hash": "8c6209326be02f28bb6d2d7d8f2ceaeb", "id": 8}, {"snippet": "Section 3.12(b) of the Disclosure Schedule contains a complete and accurate list of all Contracts, other than the Management Agreements or as provided in Section 6.8(b), pursuant to which any Majority-Owned Company may have an obligation to pay a Retention Bonus, including, without limitation, a true and accurate schedule of all such bonus compensation for each recipient of a Retention Bonus and the timing and calculations thereof in reasonable detail.", "snippet_links": [{"key": "disclosure-schedule", "type": "definition", "offset": [23, 42]}, {"key": "complete-and-accurate", "type": "clause", "offset": [54, 75]}, {"key": "all-contracts", "type": "clause", "offset": [84, 97]}, {"key": "the-management-agreements", "type": "clause", "offset": [110, 135]}, {"key": "pursuant-to", "type": "clause", "offset": [170, 181]}, {"key": "obligation-to-pay", "type": "clause", "offset": [227, 244]}, {"key": "retention-bonus", "type": "definition", "offset": [247, 262]}, {"key": "without-limitation", "type": "clause", "offset": [275, 293]}, {"key": "true-and-accurate", "type": "clause", "offset": [297, 314]}, {"key": "schedule-of", "type": "definition", "offset": [315, 326]}, {"key": "compensation-for", "type": "clause", "offset": [342, 358]}], "size": 1, "samples": [{"hash": "izTpdy1YhNY", "uri": "/contracts/izTpdy1YhNY#retention-bonus-payments", "label": "Purchase Agreement (Safeguard Scientifics Inc)", "score": 21.0, "published": true}], "hash": "0e4b7702fd5337094ce59bc1eb3e6ac0", "id": 9}, {"snippet": "(a) Subject to the Executive\u2019s continued employment with the Company through the applicable payment date (each, a \u201cPayment Date\u201d) and the Executive\u2019s agreeing to abide by the terms and conditions of the restrictive covenants in Sections 13 and 14 of the Employment Agreement and Section 8 of the Change in Control Agreement (collectively, the \u201cRestrictive Covenants\u201d), the Executive shall be entitled to a cash bonus in an aggregate amount of $575,000 (the \u201cRetention Bonus\u201d). The Retention Bonus shall, subject to Section 1(c), be paid in six installments (each, an \u201cInstallment\u201d) pursuant to the payment schedule set forth below (with payment amounts set forth in brackets beside the applicable payment date):\n(i) December 1, 2012 ($95,834) (ii). April 1, 2013 ($95,834) (iii). July 1, 2013 ($95,833) (iv). October 1, 2013 ($95,833) (v). January 1, 2014 ($95,833) (vi). April 1, 2014 ($95,833)\n(b) Notwithstanding the foregoing, upon the Executive\u2019s termination of employment by the Company without Cause or by the Executive for Good Reason, or upon a termination due to the Executive\u2019s death or Disability, in any such case prior to the applicable Payment Date, the Executive shall, subject to the Executive\u2019s agreeing to abide by the Restrictive Covenants in accordance with their respective terms and conditions, be entitled to receive in a single lump sum all then-unpaid Installments in respect of the Retention Bonus within thirty (30) days following the date of such termination. For purposes of this Agreement, \u201cGood Reason,\u201d \u201cCause\u201d and \u201cDisability\u201d shall have their respective meanings provided in the Change in Control Agreement.", "snippet_links": [{"key": "to-the-executive", "type": "clause", "offset": [12, 28]}, {"key": "employment-with-the-company", "type": "definition", "offset": [41, 68]}, {"key": "applicable-payment-date", "type": "definition", "offset": [81, 104]}, {"key": "the-restrictive-covenants", "type": "clause", "offset": [199, 224]}, {"key": "the-employment-agreement", "type": "clause", "offset": [250, 274]}, {"key": "section-8", "type": "clause", "offset": [279, 288]}, {"key": "change-in-control-agreement", "type": "clause", "offset": [296, 323]}, {"key": "cash-bonus", "type": "clause", "offset": [406, 416]}, {"key": "aggregate-amount", "type": "definition", "offset": [423, 439]}, {"key": "retention-bonus", "type": "definition", "offset": [458, 473]}, {"key": "the-retention", "type": "clause", "offset": [477, 490]}, {"key": "subject-to-section", "type": "clause", "offset": [504, 522]}, {"key": "payment-schedule", "type": "definition", "offset": [598, 614]}, {"key": "payment-amounts", "type": "clause", "offset": [637, 652]}, {"key": "april-1", "type": "definition", "offset": [749, 756]}, {"key": "october-1", "type": "definition", "offset": [809, 818]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [900, 929]}, {"key": "termination-of-employment-by-the-company-without-cause-or-by-the-executive-for-good-reason", "type": "clause", "offset": [952, 1042]}, {"key": "termination-due-to", "type": "clause", "offset": [1054, 1072]}, {"key": "death-or-disability", "type": "definition", "offset": [1089, 1108]}, {"key": "prior-to-the", "type": "clause", "offset": [1127, 1139]}, {"key": "in-accordance-with", "type": "clause", "offset": [1260, 1278]}, {"key": "to-receive", "type": "definition", "offset": [1330, 1340]}, {"key": "lump-sum", "type": "clause", "offset": [1353, 1361]}, {"key": "in-respect-of", "type": "definition", "offset": [1391, 1404]}, {"key": "within-thirty", "type": "clause", "offset": [1425, 1438]}, {"key": "following-the", "type": "definition", "offset": [1449, 1462]}, {"key": "date-of", "type": "clause", "offset": [1463, 1470]}, {"key": "for-purposes-of-this-agreement", "type": "definition", "offset": [1489, 1519]}], "size": 1, "samples": [{"hash": "64Y3BjW0YWO", "uri": "/contracts/64Y3BjW0YWO#retention-bonus-payments", "label": "Retention Bonus Agreement (Interline Brands, Inc./De)", "score": 21.7159481049, "published": true}], "hash": "b2df079f072a48c82045f3a750f7ed2f", "id": 10}], "next_curs": "CmESW2oVc35sYXdpbnNpZGVyY29udHJhY3Rzcj0LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiFyZXRlbnRpb24tYm9udXMtcGF5bWVudHMjMDAwMDAwMGEMogECZW4YACAA", "clause": {"children": [["", ""], ["no-material-adverse-effect", "No Material Adverse Effect"], ["waiver-of-jury-trial", "WAIVER OF JURY TRIAL"], ["release-of-certain-claims", "Release of Certain Claims"], ["specific-performance-remedies-attorneys-fees", "Specific Performance; Remedies; Attorneys\u2019 Fees"]], "title": "Retention Bonus Payments", "parents": [["the-merger", "The Merger"], ["acquiror-covenants", "Acquiror Covenants"], ["covenants-of-wabc-and-vallicorp", "Covenants of Wabc and Vallicorp"], ["covenants", "Covenants"], ["transaction-costs", "Transaction Costs"]], "size": 42, "id": "retention-bonus-payments", "related": [["retention-bonuses", "Retention Bonuses", "Retention Bonuses"], ["retention-bonus", "Retention Bonus", "Retention Bonus"], ["bonus-payments", "Bonus Payments", "Bonus Payments"], ["bonus-payment", "Bonus Payment", "Bonus Payment"], ["severance-payments", "Severance Payments", "Severance Payments"]], "related_snippets": [], "updated": "2026-02-13T06:09:39+00:00", "also_ask": ["What triggers or conditions should be included to maximize employer leverage in retention bonus clauses?", "Which drafting elements are essential to ensure enforceability and minimize ambiguity in retention bonus agreements?", "What are the most common legal pitfalls or risks that could render a retention bonus clause unenforceable?", "How do retention bonus payment structures compare across jurisdictions or industries?", "What evidence is most persuasive in court to prove entitlement or forfeiture of a retention bonus?"], "drafting_tip": "Specify payment conditions and timing to ensure clarity; define forfeiture events to prevent disputes; state tax treatment to avoid misunderstandings.", "explanation": "A retention bonus payments clause outlines the terms under which an employee receives additional compensation for remaining with an employer for a specified period. Typically, this clause details the amount of the bonus, the required length of service, and any conditions that must be met, such as satisfactory performance or not resigning before a certain date. Its core function is to incentivize key employees to stay with the company during critical periods, thereby reducing turnover and ensuring business continuity."}, "json": true, "cursor": ""}}