Stay Put definition
Examples of Stay Put in a sentence
In consideration of the confirmation of the previous grant of the Stay Put Bonus as set forth in Section 2 hereof, the Employee hereby waives and voluntarily relinquishes and releases any and all claims against the Company with respect to the previous grant of stay-put options by the Company or the proposed grant of stay-put restricted shares by the Company.
If Employee's death or disability occurs during the Initial Term, the Company shall pay to the Employee's estate or to Employee the full amount of the Stay Put Bonus.
If the Company shall discharge Executive for "Cause" (hereinafter defined), Executive shall not be entitled to receive any payment with respect to (i) Base Salary after the date of discharge, (ii) the Stay Put Bonus and (iii) the Incentive Bonus.
At the closing of a "Change of Control" (hereinafter defined) the Stay Put Bonus (i) shall be deposited in a Rabbi Trust with US Bank and (ii) shall be invested in a money market fund.
Executive shall be entitled to a bonus ("Stay Put Bonus") of $125,000 if he remains an employee of the Company on each of January 1, 2001 and July 1, 2001 (or an aggregate of $250,000) or if Executive has been discharged without "Cause" (hereinafter defined) prior to each such date he will receive immediately any unpaid balance of the $250,000 Stay Put Bonus.
Payment shall be made within thirty (30) days of the expiration of the Stay Put Period.
Executive shall have no personal liability for damages to PCBC for voluntarily terminating his employment at any time, so long as he gives at least ninety (90) days prior written notice to PCBC; provided, however, Executive will not be entitled to the Stay Put Bonus set forth in section 11 herein if he resigns his employment effective prior to December 31, 2004.
The Company shall pay Executive interest on the unpaid balance of the Stay Put Bonus at a rate of 8% per annum for the period from and including the Effective Date to but excluding the date payment is made under this Section 3(b)(i).
Such interest payments shall be made annually at the same time as the payment of the annual installment of the Stay Put Bonus and, for purposes of this Agreement, shall constitute a part of the Stay Put Bonus.
Promptly after the Closing Date, the Company shall deposit into an escrow account as a "stay put bonus" for the Employee the amount of $__________ (the "Stay Put Bonus").