Retention Plans Sample Clauses

Retention Plans. Seller has provided Buyer with information --------------- regarding Seller's retention plans established to encourage certain employees of Seller to remain with Seller until Closing and to accept employment and remain with Buyer after the Closing (the "Retention Plans"). Seller agrees to be responsible for all payments under the Retention Plans which accrue on or prior to the Closing Date with respect to the Assumed Employees and Buyer agrees be responsible for all payments under the Retention Plans which accrue after the Closing Date with respect to the Assumed Employees.
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Retention Plans. Parent shall cause a retention plan to be established under which an aggregate of up to approximately $42,000,000 may be awarded to eligible Business Employees as determined by Parent.
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Retention Plans. Buyer acknowledges that Seller may become obligated to make certain payments to Employees pursuant to the terms of the Retention Plans and the award letters issued thereunder, which payments are conditioned upon each such Employee’s continued employment with the Acquired Companies, Buyer or their Affiliates through certain dates and/or the circumstances of such Employee’s termination of employment on or prior to any such date. Accordingly, following the Closing, Buyer shall provide prompt written notice to Seller of any termination of the employment of any Employee who was awarded a bonus under the Retention Plans and the circumstances of such termination to enable Seller to determine whether payments will be due to each such Employee under the Retention Plans.
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Retention Plans. Seller shall use commercially reasonable efforts to enter into retention bonus agreements prior to the Closing in the form attached hereto as Exhibit E with the loan officers listed in Section 8.5 of the Disclosure Memorandum requiring payment of the amount for each loan officer set forth beside each loan officer’s name in Section 8.5 of the Disclosure Memorandum.
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Retention Plans. Set forth on SCHEDULE 7.5(f) is a description of Seller's employee retention plans (the "RETENTION PLANS"). Effective upon the Closing, Buyer shall assume and continue to maintain the Retention Plans for those employees of Seller (and former employees of Seller) covered thereby at the Closing Date who are Existing Employees and pay all amounts to which any such individuals may become entitled thereunder after the Closing Date.
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Retention Plans. Seller will establish, but not fund, such retention programs (the “Retention Plans”) as it, after consultation with Buyer, determines to be necessary or appropriate to encourage those Federated TA Employees mutually identified by Seller and Buyer and listed on Schedule 4.3(f) (the “Retention Eligible Employees”) to both: accept an offer of Comparable Employment with Buyer effective as of the BFDS Hire Date; and continue in the employment of Buyer until December 31, 2004. Subject to mutual agreement of the Parties, the total amount available for payments under such Retention Plans shall not be less than 15% of the aggregate base wages or salaries of the Retention Eligible Employees. Amounts earned under the Retention Plans shall be made in two payments; with one-half (½) of the total amount being paid to the Retention Eligible Employees on September 30, 2004; and the remaining one-half (½) being paid to those Retention Eligible Employees on December 31, 2004; provided that the Retention Eligible Employees remain in the active employment of Buyer as of such dates. Buyer shall assume the Retention Plans on and after the Closing Date and shall be solely responsible for administering the Retention Plans and for making all required payments to all eligible Retention Eligible Employees.
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Retention Plans. Prior to the Effective Time, Microsoft agrees to implement the Retention Plans for the benefit of Company Employees after the Merger. Microsoft agrees not to terminate, amend or otherwise modify the Retention Plans and to make all payments provided for in the Retention Plans as such payments become due and payable, subject to the terms of the Retention Plans. Microsoft also agrees to take all other actions with respect to Company employees that are described in or contemplated by Schedule 4.12.3.
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Retention Plans. Attached as Schedule 6.3 is a description --------------- of the Company's employee retention plans (the "Retention Plans"). The Surviving --------------- Entity agrees continue to maintain the Retention Plans for those Commercial Laundry Employees (and former Commercial Laundry Employees) covered thereby at the Closing Date and to cause the Surviving Entity to pay all amounts to which any such individuals may become entitled thereunder after the Closing Date. The Cash Merger Consideration is intended to reflect an equal division of the payments due after the date hereof under the Retention Bonus component of the Retention Plans (the "Retention Bonuses"). If, at such time as the Surviving ----------------- Entity has no further obligations to pay Retention Bonuses, the aggregate Retention Bonuses paid by the Surviving Entity (including the amounts, if any, paid by the Company on or prior to the Effective Time) is less than $3,600,000, the Surviving Entity shall 41 promptly pay to Raytheon an amount equal to 50% of the difference between $3,600,000 and the Retention Bonuses paid by the Surviving Entity.
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Retention Plans. 41 Section 6.4. Access to Books and Records............................ 42
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Related to Retention Plans

  • Benefits Plans During the Employment Period, You will be eligible to participate in all benefit plans in effect for executives and employees of the Company, subject to the terms and conditions of such plans.

  • Compensation Plans Following any termination of the Executive's employment, the Company shall pay the Executive all unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination under any compensation plan or program of the Company, at the time such payments are due.

  • Bonus Plans 21.16 A bonus is a lump sum payment that is not a permanent increase to the salary base of the individual and may be granted at the discretion of the President. A bonus may be awarded at any time and may be used for a variety of salary adjustments including, but not limited to, the following:

  • Incentive Plans During the Term of this Agreement, Executive shall be entitled to participate in all bonus, incentive compensation and performance based compensation plans, and other similar policies, practices, programs and arrangements of the Company, now in effect or as hereafter amended or established, on a basis that is commensurate with his position and no less favorable than those generally applicable or made available to other executives of the Company. The Executive's participation shall be in accordance with the terms and provisions of such plans and programs. Participation shall include, but not be limited to:

  • Equity Plans Executive shall be entitled to participate in any equity or other employee benefit plan that is generally available to senior executive officers, as distinguished from general management, of the Company. Except as otherwise provided in this Agreement, Executive’s participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan.

  • Transition Plan In the event of termination by the LHIN pursuant to this section, the LHIN and the HSP will develop a Transition Plan. The HSP agrees that it will take all actions, and provide all information, required by the LHIN to facilitate the transition of the HSP’s clients.

  • Benefit Plans The Executive shall be eligible to participate in any employee benefit plan of the Company, including, but not limited to, equity, pension, thrift, profit sharing, medical coverage, education, or other retirement or welfare benefits that the Company has adopted or may adopt, maintain or contribute to for the benefit of its senior executives, at a level commensurate with his positions, subject to satisfying the applicable eligibility requirements. The Company may at any time or from time to time amend, modify, suspend or terminate any employee benefit plan, program or arrangement for any reason in its sole discretion.

  • Option Plans There is no share option plan or similar plan to acquire any additional shares or units or other equity interests, as the case may be, of IEM or securities convertible or exercisable into or exchangeable for, or which otherwise confer on the holder thereof any right to acquire, any such additional shares or units or equity interests, as the case may be.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Employees; Benefit Plans (a) Following the Closing Date and except to the extent an alternative treatment is set forth in this Section 5.14, NBT may choose to maintain any or all of the Salisbury Benefit Plans in its sole discretion, and Salisbury and Salisbury Bank shall cooperate with NBT in order to effect any plan terminations to be made as of the Effective Time. For the period commencing at the Effective Time and ending 12 months after the Effective Time (or until the applicable Continuing Employee’s earlier termination of employment), NBT shall provide, or cause to be provided, to each employee of Salisbury Bank who continues with the Surviving Bank as of the Closing Date (a “Continuing Employee”) (i) a base salary or a base rate of pay at least equal to the base salary or base rate of pay provided to similarly situated employees of NBT or any Subsidiary of NBT and (ii) other benefits (other than severance, termination pay or equity compensation) at least substantially comparable in the aggregate to the benefits provided to similarly situated employees of NBT or any Subsidiary of NBT. For any Salisbury Benefit Plan terminated for which there is a comparable NBT Benefit Plan of general applicability, NBT shall take all commercially reasonable action so that Continuing Employees shall be entitled to participate in such NBT Benefit Plan to the same extent as similarly-situated employees NBT (it being understood that inclusion of the employees of Salisbury and Salisbury Bank in the NBT Benefit Plans may occur at different times with respect to different plans). NBT shall cause each NBT Benefit Plan in which Continuing Employees are eligible to participate to take into account for purposes of eligibility and vesting under the NBT Benefit Plans (but not for purposes of benefit accrual) the service of such employees with Salisbury or Salisbury Bank to the same extent as such service was credited for such purpose by Salisbury or Salisbury Bank; provided, however, that such service shall not be recognized to the extent that such recognition would result in a duplication of benefits or retroactive application. Nothing herein shall limit the ability of NBT to amend or terminate any of the Salisbury Benefit Plans or NBT Benefit Plans in accordance with their terms at any time. Following the Closing Date, NBT shall honor, in accordance with Xxxxxxxxx’x policies and procedures in effect as of the date hereof, any employee expense reimbursement obligations of Xxxxxxxxx for out-of-pocket expenses incurred during the calendar year in which the Closing occurs by any Continuing Employee.

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