Retention Plans definition
Examples of Retention Plans in a sentence
There are existing Recognition and Retention Plans with stock rights calling for the issuance of 10,580 shares of FFBS common stock which number is included in the 1,575,635 shares shown above to be outstanding.
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.
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.
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").
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.
The applicable Acquired Company agrees to honor, perform and be liable for, and, to the extent necessary, assume, all obligations, if any, with respect to retention bonuses under the Retention Plans payable to or on behalf of those persons described in the preceding sentence, including, for this purpose, those persons who are Continuing Employees.
As of the date hereof, all of the shares of Bancorp Common Stock authorized to be issued under Bancorp's Recognition and Retention Plans ("ARP Plans") are awarded and vested.
Executive shall also take all other actions required under the terms of the Trust Agreement, dated February 5, 2007, by and between Univision Communications, Inc., a Delaware corporation, or any successor thereto and United States Trust Company, National Association (the “Trustee”) to waive his rights to any payments or benefits under the Company’s Change in Control Severance Plan and Change in Control Retention Plans, other than the amounts described in this Section 3.4.
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.
As of the Effective Time, InvenTrust shall have no Liability for any payments, obligations or other Liabilities with respect to the Severance and Retention Plans.