Retention Benefit definition

Retention Benefit payable hereunder is a lump sum payment, payable by check, in an amount equal to the sum of: (i) your base salary for a ____-month period; (ii) the average of the two most recent annual incentive bonuses paid to you prior to the Change in Control; and (iii) the amount you would have to pay for COBRA continuation coverage under the Bank’s group health plans for a ___-month period had your employment terminated immediately prior to the Change in Control and you elected COBRA continuation coverage at such time. For purposes of clause (i) of the preceding sentence, “base salary” means your base salary immediately prior to the Change in Control, but disregarding any reduction of your base salary that is made in anticipation of the Change in Control.

Retention Benefit shall have the meaning set forth in Section 4.3 hereof.

Retention Benefit means the benefit set forth in Section 4.1 below.

Examples of Retention Benefit in a sentence

• This Agreement constitutes the entire agreement between Executive and the Corporation and is the complete, final and exclusive embodiment of their agreement with regard to this subject matter, and this Agreement shall supersede any prior or contemporaneous written or oral agreements regarding this subject matter, including, without limitation, the Retention Benefit Provisions set forth in the Prior Agreement.

• This Retention Agreement shall terminate on the earlier of (i) the twelve (12) month anniversary of the date the Transaction is consummated; (ii) the date on which an Early Termination without a Retention Benefit occurs; or, (iii) if the Transaction has not been consummated prior to the End Date, the twelve (12) month anniversary of the End Date; provided, however, that the confidentiality provisions of this Retention Agreement shall survive the termination of this Retention Agreement.

• Any abatement of payment obligations pursuant to this Section 4.3 shall commence with the last Retention Benefit payment that is earned and accrued by the Executive pursuant to Section 4.4 hereof, and, if necessary, shall continue with preceding Retention Benefit payment obligations in the order of last accrued, first abated, with the Change of Control Benefit payment being the last payment obligation to be abated, if necessary.

• Photochemical Production of Organic Matter Triplet States in Water Samples from Mountain Lakes, Located below or above the Tree Line.

• This Retention Agreement shall terminate on the earlier of (i) the six (6) month anniversary of the date the Transaction is consummated; (ii) the date on which an Early Termination without a Retention Benefit occurs; or, (iii) if the Transaction has not been consummated prior to the End Date, the twelve (12) month anniversary of the End Date; provided, however, that the confidentiality provisions of this Retention Agreement shall survive the termination of this Retention Agreement.

More Definitions of Retention Benefit

Retention Benefit means the benefit provided under Section 3.3 of the Plan.

Retention Benefit means the benefit described in Section 2(a) herein.

Retention Benefit means the retention benefit set forth in Article 4 of this Plan.

Retention Benefit shall have the meaning specified in Section 6.8(g).

Retention Benefit means a cash lump sum payment equal to the product of two (2) multiplied by the Executive's Compensation.

Retention Benefit means the retention benefit set out in Article 4 of this Plan.

Retention Benefit shall have the meaning set forth in Section 7.3 hereof.