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Retention agreement template

Retention agreement 2025

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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 and specifies a retention bonus of $350,000 in the event of a change of control transaction. The agreement details conditions for receiving the bonus, defines what constitutes a change of control, and clarifies that it is not an employment contract but supplements existing agreements. It also includes provisions regarding severance, option vesting, and arbitration.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Should you accept a retention package?

Retention payments reduce risk for owners by ensuring contractors meet their contractual obligations. They also reduce risk for primary contractors who rely on subcontractors and suppliers.

Should I accept a retention offer?

Retention Arrangement means any written agreement executed by the Company (or its applicable Subsidiary) and an Optionholder on or prior to the Closing Date, pursuant to which such Optionholder has agreed to waive a portion of his or her Option Consideration (to be applied to reduce such Optionholders Closing Option

What is a retention arrangement?

Retention is a sum, generally deducted at each monthly payment notice, to provide the client with some security that the contractor/sub-contractor will return to correct any defects during the defects correction period, or defects liability period.

What is the purpose of a retention payment?

A retention strategy is a plan organizations create and use to reduce employee turnover, prevent attrition, increase retention, and foster employee engagement. While some turnover is inevitable, building a retention strategy to prevent as much voluntary turnover as possible can save an organization time and money.

What is the purpose of a retention agreement?

If you enjoy your job and want to remain with the company, it makes sense to accept a retention bonus if your employer offers it. Remember, you have the power to negotiate the bonus if you feel like its too low. You can also ask for different terms if your employer wont offer more money.