RetentionBonusAgreement续聘津贴条约doc.docx
- 文档编号:27592981
- 上传时间:2023-07-03
- 格式:DOCX
- 页数:18
- 大小:23.82KB
RetentionBonusAgreement续聘津贴条约doc.docx
《RetentionBonusAgreement续聘津贴条约doc.docx》由会员分享,可在线阅读,更多相关《RetentionBonusAgreement续聘津贴条约doc.docx(18页珍藏版)》请在冰豆网上搜索。
RetentionBonusAgreement续聘津贴条约doc
RetentionBonusAgreement续聘津贴协议-
A.TheCompanyhasannouncedtheexecutionofanAgreementandPlanofMergerpursuanttowhichtheCompanymaybeacquiredbyanothercompany.TheBoardofDirectorsoftheCompany(theBoard)recognizesthatsuchannouncementcanbeadistractiontotheEmployeeandcancausetheEmployeetoconsideralternativeemploymentopportunities.TheBoardhasdeterminedthatitisinthebestinterestsoftheCompanyanditsstockholderstoassurethattheCompanywillhavethecontinueddedicationandobjectivityoftheEmployee,notwithstandingthepossibilityoroccurrenceofaChangeofControl(asdefinedbelow)oftheCompany.
B.TheBoardbelievesthatitisinthebestinterestsoftheCompanyanditsstockholderstoprovidetheEmployeewithanincentivetocontinuehisemploymentandtomotivatetheEmployeetomaximizethevalueoftheCompanyuponaChangeofControlforthebenefitofitsstockholders.
Inconsiderationofthemutualcovenantshereincontained,andinconsiderationofthecontinuingemploymentofEmployeebytheCompany,thepartiesagreeasfollows:
1.Definitions.ForpurposesofthisAgreement,thefollowingdefinitionsshallapply:
(a)Bonusshallmeantheapplicableofthefollow:
(i)alumpsumpaymentequaltonine(9)monthsoftheEmployee’sannualbasesalaryasineffectontheEffectiveDate,ifpriortothePaymentDate,theCompanyorsuccessorcorporationhasnotofferedtheEmployeeContinuedEmploymentwiththeCompanyorsuccessorcorporation,or(ii)alumpsumpaymentequaltoseven(7)monthsoftheEmployee’sannualbasesalaryasineffectontheEffectiveDate,ifpriortothePaymentDate,theCompanyorsuccessorcorporationhasofferedtheEmployeeContinuedEmploymentwiththeCompanyorsuccessorcorporation;
(b)Causeshallmean:
(i)Convictionofacrimeinvolvingmoralturpitude;
(ii)Employee’smalfeasanceinconnectionwithhisemploymentorneglectofhisdutiesafterwrittennotificationthereofbytheCompanyoritssuccessor,whichnoticeshallspecifytheallegedinstancesofneglectofhisduty,andshallprovideEmployeewith30daysinwhichtoremedysuchneglect,ifitissubjecttobeingremedied;
(iii)Employee’smaterialbreachofthisAgreementortheconfidentialinformationagreemententeredintowiththeCompany;or
(iv)Employee’spersonallyengaginginknowingandintentionalillegalconductwhichisseriouslyinjurioustotheCompanyoritsaffiliates.
(c)ChangeofControlshallmean(i)acorporatereorganizationoftheCompanywhichresultsinthestockholdersoftheCompanyimmediatelypriortosuchreorganizationowninglessthan50%ofthecombinedvotingpowerofthecapitalstockofthesurvivingcompanyimmediatelyfollowingsuchreorganization,or(ii)thesaleofallorsubstantiallyalloftheassetsoftheCompany.
(d)ClosingDatemeansthatdateuponwhichaChangeofControlisconsummated.
(e)AnofferofContinuedEmployment’shallmeananofferextendedbyCompanyoritssuccessortoEmployeeofemploymentwiththeCompanyoritssuccessorbeyondthePaymentDatewhich(X)theEmployeeacceptsor(Y)whichmeetseachofthefollowingconditions:
(i)theassignmenttoEmployeeofdutieswhicharesubstantiallyequivalenttotheEmployee’sdutieswiththeCompanyasoftheEffectiveDate;
(ii)asalarywhichisequaltoorgreaterthantheEmployee’ssalarywiththeCompanyasoftheEffectiveDate;and
(iii)receiptofemployeebenefitswhicharecomparabletoemployeebenefitsreceivedbyotheremployeesoftheCompanyorsuccessorcorporationwhohavecomparablesalariesanddutiestotheEmployee.
ItisunderstoodandagreedthatanofferofemploymentwhichmeetstherequirementsofthetermContinuedEmploymentmayrequiretheEmployeetorelocate,mayinvolveadifferentjobgradelevelandmaycarryadifferenttitle.
(f)InvoluntaryTerminationmeans:
(i)thecontinuedassignmenttoEmployeeofanydutiesorthecontinuedsignificantreductionofEmployee’sduties,eitherofwhichisnotsubstantiallyequivalenttotheEmployee’sdutieswiththeCompanyasoftheEffectiveDate,providedthatachangeinjobtitleshallnotconstituteasignificantreductioninEmployee’sduties;
(ii)areductioninEmployee’ssalary;
(iii)receiptofemployeebenefitswhicharenotcomparabletoemployeebenefitsreceivedbyotheremployeesoftheCompanyorsuccessorcorporationwhohavecomparablesalariesanddutiestotheEmployee;
(iv)therelocationofEmployee’sprincipalplaceforrenderingtheEmployee’sservicestotheCompanytoalocationmorethanfifty(50)milesfromthepresentlocationoftheprincipalexecutiveofficeoftheCompanypriortothePaymentDate;
(v)anymaterialbreachbytheCompanyofanymaterialprovisionofthisAgreementwhichcontinuesuncuredfor30daysfollowingnoticethereof,provided,however,thatnoneoftheforegoingshallconstituteinvoluntarilyterminatedtotheextentEmployeehasagreedtheretoinwriting;or
(vi)terminationoftheEmployee’semploymentwiththeCompanyorthesuccessorcorporationbytheCompanyorthesuccessorcorporationotherthanforCause.
(g)PaymentDatemeansthatdatewhichissix(6)monthsaftertheClosingDate.
2.PaymentofBonus;EffectofTerminationofEmployment.
(a)TriggeringEvent.IntheeventofaChangeofControloccurringonorbefore_________(M,D,Y),aslongastheEmployeehasmaintainedcontinuousemploymentwiththeCompanyoritssuccessorfromtheEffectiveDatehereofthroughthePaymentDate,EmployeeshallbeentitledtoreceivetheBonus.TheCompanyoritssuccessorshallpaysuchBonustotheEmployeenotlaterthanfive(5)businessdaysafterthePaymentDate.
(b)AccrualofRight;EffectofTermination.NorightshallaccruehereunderintheeventthatEmployee’semploymentwiththeCompanyisterminatedforanyreason,with,orwithoutCauseandwhetherinitiatedbyEmployeeorbyCompany,atanytimepriortotheClosingDate.IntheeventthatEmployeehasmaintainedcontinuousemploymentwiththeCompanyfromtheEffectiveDatethroughtheClosingDatebutEmployee’semploymentwiththeCompanyoritssuccessoristerminatedasaresultofanInvoluntarilyTerminationatanytimebetweentheClosingDateandthePaymentDate,thentheBonusshallbecomepayablewithinfive(5)businessdaysaftertheterminationdate.
(c)NoBonus.NoBonusshallbepayablehereundertoEmployeeifEmployee’semploymentisterminatedforCausepriortothePaymentDate.
3.At-WillEmployment.ThisAgreementdoesnotguaranteeorimplyanyrighttocontinuedemploymentforanyperiodwhatsoever.TheCompanyandtheEmployeeacknowledgethattheEmployee’semploymentisandshallcontinuetobeat-will,asdefinedunderapplicablelaw.IftheEmployee’semploymentterminatesforanyreason,allpaymentsofcompensationandbenefitsshallceaseandthereaftertheEmployeeshallnotbeentitledtoanypayments,benefits,damages,awardsorcompensationexceptfortheBonus(subjecttoSection2(c)),andexceptasmayotherwisebeavailableinaccordancewiththeCompany’sestablishedemployeeplansandpracticesorotheragreementswiththeCompanyatthetimeoftermination.
4.Duration.ThetermsofthisAgreementshallterminateuponthedatethatallobligationsofthepartieshereunderhavebeensatisfied;provided,however,thatthisAgreementmaybeextendedforanadditionalperiodorperiodsbyresolutionadoptedbytheBoardatanytimeduringtheperiodthattheAgreementisineffect.
5.MiscellaneousProvisions.
(a)WholeAgreement.Noagreements,representationsorunderstandings(whetheroralorwrittenandwhetherexpressorimplied)whicharenotexpresslysetforthinthisAgreementhavebeenmadeorenteredintobyeitherpartywithrespecttothesubjectmatterhereof.
(b)EmploymentTaxes.AllpaymentsmadepursuanttothisAgreementwillbesubjecttowithholdingofapplicableincomeandemploymenttaxes.
(c)Counterparts.ThisAgreementmaybeexecutedincounterparts,eachofwhichshallbedeemedanoriginal,butallofwhichtogetherwillconstituteoneandthesameinstrument.
INWITNESSWHEREOF,eachofthepartieshasexecutedthisAgreement,inthecaseoftheCompanybyitsdulyauthorizedofficer,asofthedayandyearfirstabovewritten.
RetirementAgreement退休协议-
THISAGREEMENTisenteredintoasofthe_________dayof_________,_________(M,Y),(AgreementDate)byandbetweenAAA,Inc.(AAA)and_________(_________).
WHEREAS,_________isemployedbyAAA,Inc.toserveasSeniorVicePresidentandChiefFinancialOfficerofBBB,Inc.,inadditiontootherdirectorandofficerpositionsheldwithAAA,itsaffiliatesandsubsidiaries(acompletelistofallsuchpositionsisattachedheretoasExhibitA);
WHEREAS,_________possessesintimateknowledgeofthebusinessandaffairsofAAA,itsparents,subsidiariesandaffiliates,particularlyrelatedtofinancialandoperationalmatters;and
WHEREAS,thepartiesdesiretosetforththetermsandconditionsuponwhich_________willretireasof_________,_________,_________(M,D,Y);
NOWTHEREFORE,inconsiderationoftheforegoingandthemutualcovenantsandagreementshereinaftersetforth,AAAand_________(collectively,the
Parties)agreeasfollows:
1.ChangeinEmployment.Asof_________,_________,_________(M,D,Y),itisagreedthat_________willnolongerserveasSeniorVicePresidentandChiefFinancialOfficerofBBB,Inc.orholdanyotherofficeranddirectorpositionnowheldwithAAA,itsparents,subsidiariesandaffiliates;however,hisemploymentwithAAAwillcontinuethroughh
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- RetentionBonusAgreement 续聘 津贴 条约 doc
![提示](https://static.bdocx.com/images/bang_tan.gif)