Retention Cash Award Sample Clauses

Retention Cash Award. The Executive's account in the Xxxxxx Executive Deferred Compensation Plan will be credited with $400,000 on each of October 31, 2002, October 31, 2003 and October 31, 2004 and an additional $200,000 on April 30, 2005. All restrictions on such amounts and the bookkeeping earnings thereon shall lapse on April 30, 2005 if the Executive remains in the continuous employ of Parent or Xxxxxx from the Effective Date until April 30, 2005. In the event the Executive's employment with Parent and Xxxxxx terminates prior to April 30, 2005 and following a "Change in Control" (as such term is hereinafter defined) or if the Executive's employment is terminated by Parent or Xxxxxx for reasons which do not constitute "Cause" as defined herein, then the date for the addition any credits to the Xxxxxx Executive Deferred Compensation Plan referred to in the first sentence of this paragraph shall be accelerated to such termination date and all restrictions on all such amounts (including amounts credited before the termination date) and the bookkeeping earnings thereon shall lapse as of such termination date. In the event that the Executive's employment with Parent and Xxxxxx terminates prior to April 30, 2005 due to death or permanent and total disability as defined by Xxxxxx personnel policy, all restrictions shall lapse on amounts scheduled to be credited to the Executive's account in the Xxxxxx Executive Deferred Compensation Plan on or before the Executive's termination date and the bookkeeping earnings thereon. In the event that the Executive's employment with Parent and Xxxxxx terminates prior to April 30, 2005 for any reason other than those set forth in the two preceding sentences, then all of the Executive's rights with respect to amounts credited or to be credited to the Executive's account in the Xxxxxx Executive Deferred Compensation Plan pursuant to the first sentence of this paragraph shall terminate as of the date of such termination of employment.
Sample 1
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Retention Cash Award. Subject to the restrictions, limitations, terms and conditions specified in this Agreement, the Company hereby awards to the Participant as of the Award Date a Retention Cash Award (RCA) of $<<xx>> which vests as follows: 100% on March 1, 2022 (the “Vesting Date”) This RCA will remain restricted until the Vesting Date ("Vesting Date"). Prior to the Vesting Date, the RCA is not transferable by the Participant by means of sale, assignment, exchange, pledge, or otherwise.
Sample 1
Retention Cash Award. On the second anniversary of the Closing Date, subject to Executive’s continued employment with Parent and its Affiliates as of such date, Executive shall be entitled to receive a lump sum in cash equal to $600,000.
Sample 1
Retention Cash Award. You are eligible to receive a Retention Cash Award from Abbott in the amount of $5,000,000, payable six (6) months following the Effective Date (the “Payment Date”). This Retention Cash Award is subject to Section VII below and your continued employment through the Payment Date; provided, if your employment terminates due to your death or you are terminated by Abbott without Cause, as defined in Section IX.1., and without having breached this Agreement and your termination of employment constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h), you will be entitled to receive any unpaid Retention Cash Award and the “Payment Date” for any such unpaid Retention Cash Award will be the effective date of your death or separation from service, as applicable. The Retention Cash Award shall be paid no later than thirty (30) days following the Payment Date, and shall be subject to deductions and withholdings as required by law. Notwithstanding the foregoing, no Retention Cash Award that is payable upon your separation from service by Abbott without Cause and without having breached this Agreement, shall be made or provided prior to the date that both (i) you have delivered an original, signed release to Abbott in the form provided by Abbott and (ii) the revocability period (if any) for such release has elapsed. You must deliver to Abbott an original, signed release and the revocability period (if any) must elapse by the Release Deadline. For purposes of this Section V, “Release Deadline” means the date that is 60 calendar days after the Payment Date. Payment of any Retention Cash Award that is payable as a result of your separation from service by Abbott without Cause and without breaching this Agreement, and that is not exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), shall be delayed until the Release Deadline, irrespective of when you execute the release; provided, however, that where the Payment Date and the Release Deadline occur within the same calendar year, the payment may be made up 30 days prior to the Release Deadline, and provided further that where the Payment Date and the Release Deadline occur in two separate calendar years, payment may not be made before the later of January 1 of the second year or the date that is 30 days prior to the Release Deadline. The Retention Cash Award will not be included in any calculation of or otherwise increase your compensation for any ...
Sample 1

Related to Retention Cash Award

  • Retention Award The Company shall pay the Executive $2,750,000, plus interest at the rate specified below (the “Retention Award”) in a lump-sum cash payment in July 2014, provided that the Executive remains employed through December 31, 2013. The Retention Award shall be credited with interest based on the Prime Rate of SunTrust Bank, Atlanta. For the avoidance of doubt, if the Executive is employed through December 31, 2013, the Company shall pay the Retention Award in July 2014 without regard for the Executive’s termination of employment for any reason between December 31, 2013 and July 2014.

  • Cash Award Subject to Section 2 and provided that you are employed by the Company or one of its affiliates on each applicable payment date set forth below, the Company shall pay you the Cash Award at the following times: (i) one-third (1/3) of the Cash Award on the Closing Date, (ii) one-third (1/3) of the Cash Award on the first anniversary of the Closing Date and (iii) the remaining one-third (1/3) of the Cash Award on the second anniversary of the Closing Date.

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Award The Parties agree that the award of a majority of the arbitrators, or in the case of a single arbitrator, of such arbitrator, shall be final and binding upon each of them.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Retention Bonus You will be eligible for a lump sum cash payment on the first anniversary of the Acquisition Date provided that you are employed by the Company as of such date in an amount equal to the sum of (i) 100% of your annual base salary in effect as of the Acquisition Date, plus (ii) 100% of the annual bonus paid to you for the Company’s fiscal year ending December 31, 2008 (such sum, the “First Year Retention Bonus”). You will be eligible for a lump sum cash payment on the second anniversary of the Acquisition Date provided that you are employed by the Company as of such date in an amount equal to the sum of (i) 100% of your annual base salary in effect as of the Acquisition Date, plus (ii) 100% of the annual bonus paid to you for the Company’s fiscal year ending December 31, 2008 (such sum, the “Second Year Retention Bonus”). Except as set forth below, you will not be eligible for the retention bonuses as set forth above if your employment terminates prior to such applicable anniversary. In the event of your Voluntary Termination for Good Reason (as defined below), the termination of your employment by the Company other than for Justifiable Cause, or in the event of your death or “permanent disability” as defined in the Company’s long-term disability policy (i) during the first twelve month period following the Acquisition Date, you will be eligible for a pro rata portion of the First Year Retention Bonus, counting full months of employment with the Company from the Acquisition Date through such termination, and (ii) during the second twelve month period following the Acquisition Date, you will be eligible for a pro rata portion of the Second Year Retention Bonus, counting full months of employment with the Company from the first anniversary of the Acquisition Date through such termination. Any prorated payment pursuant to the preceding sentence shall be made within 10 business days of such termination. If the annual bonus payment for the Company’s fiscal year ending December 31, 2008 has not been paid to you or otherwise determined by the Company as of the date the prorated payment is due, the prorated payment shall be calculated using your target bonus amount for 2008. Payments under this Section 8 shall be net of any applicable withholding taxes. For purposes of this Section 8, “Voluntary Termination for Good Reason” shall have the same meaning as given to such term under the Key Employee Change in Control Severance Plan as in effect immediately prior to the Acquisition Date, but with respect to the First Year Retention Bonus only, determined without regard to clause (ii) thereof.”

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