Common use of Employee Retention Program Clause in Contracts

Employee Retention Program. Executive is scheduled to participate in the Key Employee Retention Program to be established by UST and Schwab immediately prior to the Effective Date ("Retention Program"), the key terms of which are attached as Exhibit D hereto, at a payment equal to $2.8 million, five-sixths in cash and one-sixth in a grant of Schwab stock options in accordance with the terms of Exhibit D.