Retention Programs Clause Samples
Retention Programs. Following the date hereof, Parent may, in its sole discretion, establish a cash-based award program to promote the retention between the date hereof and the Effective Time of Covered Employees, with such terms and conditions, including the Covered Employees who will participate in the programs, as determined by Parent.
Retention Programs. National is instituting a retention pay program for not more than 20 certain employees to be paid by National after the Closing in an amount not to exceed $6,165,000 and upon such other terms mutually acceptable to Buyer and NationaL.
Retention Programs. 69 Section 6.14
Retention Programs. ▇▇▇▇▇ may establish a cash-based retention and transaction success program to encourage up to 40 employees, including executive officers and other members of management, to remain employed with ▇▇▇▇▇ and to ensure the successful transition of the business to the surviving corporation (the “Retention Program”). The Retention Program, not to exceed $8 million in the aggregate, may consist of (i) $5 million in the aggregate for the fiscal year 2021, (ii) $1.5 million in the aggregate for the first fiscal quarter of 2022 and (iii) $1.5 million in the aggregate for the second fiscal quarter of 2022. Up to 50% of the award amounts may be paid immediately following the merger, and the remainder of the awards may be payable 3 months following the merger, subject to the recipient’s continued employment through the payment date, with accelerated payments in the event of an employee’s involuntary termination without cause or for good reason. Individual awards to be made under the Retention Program will be determined by ▇▇▇▇▇’▇ CEO with respect to non-executive officers and by ▇▇▇▇▇’▇ Compensation Committee for executive officers. As of June 30, 2021, no retention awards have been granted to ▇▇▇▇▇’▇ executive officers under the Retention Program.
Retention Programs. Within not more than 12 months following the Closing, Buyer shall use commercially reasonable efforts to cause and facilitate the Business’s adoption and implementation of Buyer’s existing recruitment, retention, career development, health and wellness and leadership training programs and shall make all such programs available to all employees of the Business.
Retention Programs. Without the prior written consent of the Required Lenders, the Loan Parties shall not (a) establish any insider (as such term is defined under the Bankruptcy Code) key employee incentive plans, key employee retention plans or any other similar payments or awards programs or (b) change or amend in any manner any existing programs or related programs.