Retention Date Clause Samples
The Retention Date clause defines the specific period during which certain documents, data, or records must be kept by a party before they can be destroyed or deleted. Typically, this clause outlines the types of materials subject to retention, the exact duration for which they must be preserved, and any exceptions or legal requirements that may extend the retention period. Its core practical function is to ensure compliance with legal, regulatory, or contractual obligations regarding recordkeeping, thereby reducing the risk of premature destruction and supporting accountability and auditability.
Retention Date. For purposes of this Agreement, the “Retention Date” shall mean the earlier of (i) the date that is six months following the Closing Date, or (ii) the date immediately preceding the date that Executive’s employment is terminated by Dell without Cause or by Executive for Good Reason, provided such termination occurs during the period beginning at the Effective Time and ending on the date that is six months following the Closing Date (the “Retention Period”). It is the intention of the parties hereto that Executive’s employment with Dell will end effective as of the day following the Retention Date. Until the Retention Date, Executive will remain in Executive’s current position at ▇▇▇▇▇ Systems Corporation and/or its successor and Executive’s primary responsibilities will be to complete and/or assist in the transition of ongoing projects, and to perform other duties and special projects, as assigned by Executive’s manager or other person or entity to whom Executive reports. During this period, Executive will act in a professional manner and abide by the Non-Disparagement provision stated below. Nothing in this Agreement confers upon Executive a right to be a continuing employee of Dell, or imposes on Dell an obligation to continue Executive’s employment relationship, if Executive violates any of the terms of this Agreement, any of the provisions of any agreements between Executive and Dell, or Dell’s Code of Conduct or any other Dell policy generally applicable to employees of Executive’s level and position. Any such violation shall constitute “Cause” for Executive’s termination. As used herein, the term “Good Reason” means: (a) a material reduction of Executive’s base salary, unless such reduction is part of an across-the-board reduction of no more than 10% of base salary of all employees of Dell who are in the same salary grade as you as of the time of such reduction, (b) a material reduction of the employee benefits enjoyed by you, under the qualified and nonqualified employee benefit and welfare plans of Dell, unless such reduction is part of an across-the-board reduction of employee benefits for all employees of Dell who are in the same salary grade as Executive as of the time of such reduction; (d) Dell requiring you to be based at any office or ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ location that is more than 35 miles from Executive’s principal work location and residence as of the Effective Date or increasing the amount of business travel Executive is required to do (away ...
Retention Date a. You agree that you will not voluntarily resign on or before January 31, 2021 (the “Retention Date”) (i) without Good Reason, or (ii) pursuant to a claim of Good Reason, where your claim of Good Reason is based solely upon the occurrence or anticipated occurrence of the LVMH Transaction (and not, for the avoidance of doubt, upon the occurrence of a separate event, such as a material reduction in your salary, that may relate to or arise from the LVMH Transaction).
b. In the event that (i) you fail to comply with the foregoing sub-section (a), or (ii) your employment is involuntarily terminated by Employer for Cause on or before the Retention Date, then you will repay the Special Bonus within ten days following your termination date (and such repayment will constitute Parent and Employer’s sole remedy for your breach of the foregoing sub-section (a)). As used in this Section 2, “Cause” and “Good Reason” have the definitions provided in the Retention Agreement, dated [date], among you, Employer and Parent (the “Retention Agreement”).
c. For the avoidance of doubt, any voluntary resignation on or before January 31, 2021, will not constitute “Cause” for purposes of the Retention Agreement. Special Bonus Agreement, December 2019
Retention Date. For purposes hereof, the “First Retention Date” shall be March 6, 2015 and the “Second Retention Date” shall be March 6, 2016. The First Retention Date, together with the Second Retention Date shall be referred to as the “Retention Dates.”
Retention Date. Your service as an employee with the Company will end on June 30, 2022 (the “Retention Date”). For avoidance of doubt, the termination of your employment on the Retention Date, under the terms of this Agreement, is not a Qualifying Termination under the Executive Severance Agreement between you and the Company dated November 7, 2017 (the “Executive Severance Agreement”).
Retention Date. “Retention Date” shall mean the date that is the one year anniversary of the Effective Date.