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Retention agreement 2026

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The Key Management Retention Agreement between Raytel Medical Corporation and Dr. David E. Wertheimer outlines the terms for his continued employment as Senior Vice President and President of The Heart Institute of Port St. Lucie, Inc. It includes provisions for a retention bonus of $350,000 in the event of a change of control transaction, conditions for receiving this bonus, and stipulations regarding severance arrangements and option vesting. The agreement is not an employment contract but supplements existing agreements.

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Click ‘Get Form’ to open the retention agreement in the editor.
Begin by entering the effective date of the agreement at the top of the document. This is crucial as it establishes when the terms become applicable.
Fill in the names of both parties involved: RAYTEL MEDICAL CORPORATION and David E. Wertheimer, M.D. Ensure that all titles and roles are accurately represented.
Review and complete Section 1 regarding Retention and Severance Arrangement. Pay special attention to Paragraph 1.1, where you will need to confirm eligibility for the Retention Bonus.
In Paragraph 1.3, ensure that all conditions for receiving the Retention Bonus are clearly understood and check any applicable boxes if required.
Finalize by signing at the bottom of the document. Both parties should ensure their signatures are clear and legible.

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