Retention Package definition
Examples of Retention Package in a sentence
Employee will continue to participate in the Retention Package program as explained in the memorandum to Employee dated December 3, 1998.
Employee shall continue to participate in, and the Company agrees to assume, the Retention Package bonus program under the same terms as explained in the memorandum to Employee dated December 3, 1998 from Molecular Biosystems, Inc.
Consultant shall continue to participate in, and the Company agrees to assume, the Retention Package bonus program under the same terms as explained in the memorandum to Consultant dated December 3, 1998 from Molecular Biosystems, Inc.
Employee shall continue to participate in, and the Company agrees to assume, the Retention Package bonus program under the same terms as explained in the memorandum to Employee dated November 11, 1998 from Molecular Biosystems, Inc.
In the event of any of the following, all amounts of, or obligations of the Company under, the Retention Package will be immediately forfeited and made void in their entirety and no amount will be paid to Executive related thereto: Executive voluntarily terminates his employment with the Company (any position) other than in accordance with the conditions set forth in paragraph 2 hereof; or Executive's employment with the Company (any position) is terminated by the Company for "Cause" (as defined below).
Employee will continue to participate in the Retention Package program as explained in the memorandum to Employee dated December 3, 1998 except that if the Company terminates Employee Without Cause as defined in paragraph 3e herein prior to February 1, 2000, her stock grant and stock option outlined in paragraphs 2 and 3 of the memorandum dated December 3, 1998 will become immediately vested in full.
Notwithstanding any provision herein to the contrary, if Executive’s employment is terminated by the Company without “Cause” (as defined below), Executive retains the benefits of the Retention Package in its entirety.
No present or former director, officer or employee of Petrolink or any of its Subsidiaries is or will be eligible to receive any bonus, commission, severance pay, lump sum or other payment, compensation or other remuneration from Petrolink or any of its Subsidiaries as a result of any of the transactions contemplated by this Agreement except for the Retention Package.