Make Whole Payment. To induce the Executive to enter into this Agreement, and to compensate him for the significant financial and other benefits he will forfeit at his current employer as a result of accepting employment hereunder and to secure for itself the benefit of the Executive's particular qualification and experience, AESC shall pay to the Executive, in a lump sum in cash on the business day after the date on which his current employer has publicly announced his resignation (or if later, the date on which the Executive executes this Agreement), a special hiring payment in an amount equal to Six Million Three Hundred Thousand Dollars ($6,300,000).
Appears in 3 contracts
Sources: Employment Agreement (Monongahela Power Co /Oh/), Employment Agreement (Allegheny Energy Supply Co LLC), Employment Agreement (Allegheny Energy Inc)
Make Whole Payment. To induce the Executive to enter into this Agreement, and to compensate him for the significant financial and other benefits he will forfeit at his current employer as a result of accepting employment hereunder and to secure for itself the benefit of the Executive's particular qualification and experience, AESC shall pay to the Executive, in a lump sum in cash on the business day after the date on which his current employer has publicly announced his resignation (or if later, the date on which the Executive executes this Agreement)Start Date, a special hiring payment in an amount equal to Six Million Three Eight Hundred Thousand Dollars ($6,300,000800,000).
Appears in 3 contracts
Sources: Employment Agreement (Allegheny Energy Inc), Employment Agreement (Allegheny Energy Supply Co LLC), Employment Agreement (Potomac Edison Co)
Make Whole Payment. To induce the Executive to enter into this Agreement, and to compensate him for the significant financial and other benefits he will forfeit at his current employer as a result of accepting employment hereunder and to secure for itself the benefit of the Executive's particular qualification and experience, AESC shall pay to the Executive, in a lump sum in cash on the business day after the date on which his current employer has publicly announced his resignation (or if later, the date on which the Executive executes this Agreement)Start Date, a special hiring payment in an amount equal to Six Million Three Two Hundred Fifty Thousand Dollars ($6,300,000250,000).
Appears in 3 contracts
Sources: Employment Agreement (Monongahela Power Co /Oh/), Employment Agreement (Allegheny Energy Inc), Employment Agreement (Allegheny Energy Supply Co LLC)