Retention Incentive Payments Sample Clauses

Retention Incentive Payments. Contingent upon the Closing and the Executive signing a general release of claims against the Company and its affiliates (in the form attached as Exhibit C) covering the period through the Closing, during the twenty-four month period commencing on Closing (the “Retention Period”), Executive shall receive retention payments on the dates and in the amounts specified in Exhibit B (each such payment, a “Retention Payment”) so long as, as of the date on which the relevant Retention Payment is to be made Executive is an employee of the Company, or his employment has terminated as provided in Article II below. For the avoidance of doubt, except as provided in Article II below, Executive shall not be entitled to any pro-rata payments for any partial periods of employment. Furthermore, to the extent that the pro rata annual stub bonus is reflected in the Retention Payments, in no event shall Executive be entitled to a regular bonus for such period. Executive shall be entitled to welfare benefits as provided under Section 8(f) of the Employment Agreement commencing on termination of employment for any reason whatsoever.
Sample 1
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Retention Incentive Payments. (1) Upon successful completion of Xxxxxx’x initial five (5) year term as Athletic Director (i.e., through June 6, 2014), Xxxxxx shall receive a single lump sum payment of $250,000 payable within 30 days of June 6, 2014, provided that Xxxxxx is employed as Athletic Director at Kansas State University on June 6, 2014. In the event that Xxxxxx is terminated pursuant to Paragraph 13 of this Agreement, Xxxxxx shall receive $50,000 for each 12-month period completed (calculated beginning June 6, 2009), payable within 30 days of termination. In the event Xxxxxx is no longer Athletic Director for any reason(s) other than termination pursuant to Paragraph 13 during the initial five (5) year term of his first Employment Agreement, Xxxxxx shall forfeit any such retention incentive and any funds set aside by KSA/University shall remain the sole property of KSA/University.
Sample 1
Retention Incentive Payments. The parties recognize that retention and recruitment of commissioned officers in Washington State Patrol is challenging in the current economic climate. Our Lieutenants and Captains are highly trained and valuable law enforcement officers providing leadership and mentorship across the agency and the State faces the prospect of losing them to other law enforcement agencies. The parties further recognize the existing high vacancy rate among Trooper and Sergeant positions, and the need to provide stable leadership within WSP while recruiting and training a large number of new Troopers in the coming years. The parties agree to the following: Members of the Washington State Patrol Lieutenants and Captains Association (WSPLCA) will receive two (2) retention incentive payments of $3,500 each. The first payment will be received July 1, 2023 by all WSPLCA members employed by the WSP on that date. The second payment will be received July 1, 2024 by all WSPLCA members employed by the WSP on that date. These payments will be reflected in the employee’s next paycheck after the date of receipt and will be subject to all state and federal withholdings. This agreement will expire June 30, 2025. For the Employer: For the Union: /s/ /s/ Xxxx Xxxxxxxx, OFM Labor Negotiator Date Xxxxx Xxxxxx, WSPLCA Date C. MEMORANDUM OF UNDERSTANDING BETWEEN‌ The State of Washington AND Washington State Patrol Lieutenants and Captains Association Leave With Pay In Response To Emergency Proclamation 23-05 On August 19, 2023, Governor Xxx Xxxxxx issued emergency Proclamation 23-05 declaring a state of emergency exists in all areas of the state of Washington. All state agencies have been directed to utilize state resources to assist affected political subdivisions in an effort to respond to and recover from the event. Because the threat to life and property from existing wildfires is extraordinary and significant and has caused harm to state employees as well as extensive damage to homes, public facilities, businesses, public utilities, and infrastructure, all impacting the life and health of state employees throughout Washington State, the parties enter into this agreement for the purpose of assisting state employees that have been directly impacted by this emergency. Beginning August 25, 2023 forward the following shall apply The employer may temporarily grant up to three (3) days of leave with pay per occurrence to employees who are experiencing extraordinary or severe impacts, such as displ...
Sample 1
Retention Incentive Payments. To retain the services of Executive, the Company shall pay to Executive the following retention payments, less applicable withholding and authorized deductions: · If Executive continues to be employed through March 31, 2009, within fifteen days thereafter he shall receive a retention incentive payment of $91,667.00 · If Executive continues to be employed through June 30, 2009, within fifteen days thereafter he shall receive a retention incentive payment of $91667.00 · If Executive continues to be employed through September 30, 2009, within fifteen days thereafter he shall receive a retention incentive payment of $91,666.00 If Executive ‘s employment terminates other than as a result of termination by the Company without cause, prior to an above date, he shall not receive the retention payments due for continuation of employment after the date of his termination. If Executive’s employment is terminated by the Company without cause prior to any such date, he shall also receive the retention payments he would have received as if he continued to be employed by the Company through September 30, 2009, subject to the requirements of a release as specified in Section 4.7(b). In the event of termination without cause, payment of the retention payments not previously paid shall be accelerated and shall be made not later than the first normal Company payday that is at least 15 days after the date on which his rights to revoke the release required by Section 4.7(b) expire. Notwithstanding the above, if the Executive’s workweek is reduced as provided in Section 1.3, then the payments hereunder shall be adjusted on a pro rata basis for any portion of the first nine months of 2009 that Executive is not working full-time.
Sample 1
Retention Incentive Payments. Contingent upon the Closing, and the Executive signing a compromise agreement (in the form attached as Exhibit D), during the twenty-four month period commencing on Closing (the “Retention Period”), Executive shall receive retention payments on the dates and in the amounts specified in Exhibit B (each such payment, a “Retention Payment”) so long as, as of the date on which the relevant Retention Payment is to be made Executive is an employee of the Company or his employment has terminated as provided in Article II below. For the avoidance of doubt, except as provided in Article II below, Executive shall not be entitled to any pro-rata payments for any partial periods of employment. In addition, Executive shall be entitled to private health insurance and life insurance as provided under Clause 3.2(ii) of the Supplemental Agreement commencing on termination of employment for any reason whatsoever, provided that in the event that the Company is precluded from continuing such provision it shall provide the Executive with a cash sum equal to such amount as would enable the Executive to purchase such provision.
Sample 1
Retention Incentive Payments. Sellers shall make the payments set forth on Section 4.7 of the Disclosure Schedules to the extent payable in connection with the Closing.
Sample 1

Related to Retention Incentive Payments

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% 64 0%

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then

  • Bonus Payments In addition to Base Salary, Executive shall be entitled, during the Employment Term, to participate in and receive payments from all bonus and other incentive compensation plans (as currently in effect, as modified from time to time, or as subsequently adopted) of the Company; provided, however, that nothing contained herein shall grant Executive the right to continue in any bonus or other incentive compensation plan following its discontinuance by the Board (except to the extent Executive had earned or otherwise accumulated vested rights therein prior to such discontinuance).

  • Severance Payments 6.1 If the Executive's employment is terminated following a Change in Control and during the Term, other than (A) by the Company for Cause, (B) by reason of death or Disability, or (C) by the Executive without Good Reason, then the Company shall pay the Executive the amounts, and provide the Executive the benefits, described in this Section 6.1 ("Severance Payments") and Section 6.2, in addition to any payments and benefits to which the Executive is entitled under Section 5 hereof; provided, however, that the Executive shall not be entitled to the Severance Payments unless and until the Executive (or, in the event of the Executive's death, the executor, personal representative or administrator of the Executive's estate) has signed a written waiver and release substantially in the form set forth on Exhibit A hereto. For purposes of this Agreement, the Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause or by the Executive with Good Reason, if (i) during the Term the Executive's employment is terminated by the Company without Cause following a Potential Change in Control but prior to a Change in Control (whether or not a Change in Control ever occurs) and such termination was at the request or direction of a Person who has entered into an agreement with the Company the consummation of which would constitute a Change in Control, (ii) during the Term the Executive terminates his employment for Good Reason following a Potential Change in Control but prior to a Change in Control (whether or not a Change in Control ever occurs) and the circumstance or event which constitutes Good Reason occurs at the request or direction of such Person or (iii) during the Term the Executive's employment is terminated by the Company without Cause or by the Executive for Good Reason and such termination or the circumstance or event which constitutes Good Reason is otherwise in connection with or in anticipation of a Change in Control (whether or not a Change in Control ever occurs). An Executive will not be considered to have been terminated by reason of the divestiture of a facility, sale or other disposition of a business or business unit, or the outsourcing of a business activity with which the Executive is affiliated, notwithstanding the fact that such divestiture, sale or outsourcing takes place within two years following a Change in Control, if the Executive is offered comparable employment by the successor company and such successor company agrees to assume the Company's obligations to the Executive under this Agreement.

  • 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.”

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

  • Retention Bonuses Provided Executive becomes and remains an active employee of Mercantile, Mercantile will pay Executive retention bonuses in accordance with the following schedule:

  • Severance Payment Executive will be paid continuing payments of severance pay at a rate equal to Executive’s base salary rate, as then in effect, for twelve (12) months from the date of such termination of employment, to be paid periodically in accordance with the Company’s normal payroll policies.

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