NIC Inc. Retention Bonus Award Letter Agreement with Employee – March 2021
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Retention Agreements
Summary
NIC Inc. offers a one-time cash retention bonus of $250,000 to an employee as an incentive to remain employed through the closing of a merger with Tyler Technologies, Inc. and Topos Acquisition, Inc. The bonus is only payable if the employee is still employed on the closing date and the merger is completed. If the merger does not close or the employee leaves before closing, the bonus is not paid. The agreement is effective upon the employee's acceptance and supersedes any prior related agreements.
EX-10.1 2 nt10019848x6_ex10-1.htm EXHIBIT 10.1
Exhibit 10.1
 | 25501 W Valley Pkwy, Suite 300 Olathe, KS 66061 | 913 ###-###-#### office www.egov.com |
March 2, 2021
Re: Retention Bonus Award
Dear _______:
To reward you for your efforts to NIC Inc. (the “Company”) in consummating the transactions contemplated by the merger agreement (the “Merger Agreement”), by and among the Company, Tyler Technologies, Inc. and Topos Acquisition, Inc., and as an incentive for your continued assistance in bringing such transactions to a successful closing (the “Closing”), the Company is pleased to grant you a one-time cash retention bonus award in an amount equal to $250,000 (the “Retention Bonus”), less all applicable withholding and other authorized deductions, subject to the terms and conditions below.
The Retention Bonus will be paid in a lump sum cash payment on the date of the Closing, subject to your continued employment with the Company on such date. If the transactions contemplated by the Merger Agreement are not completed or your employment with the Company is terminated for any reason prior to the Closing, you will not be entitled to the payment of the Retention Bonus.
Please indicate your acceptance with the foregoing terms and conditions set forth in this letter by signing below and returning a copy to me. Thank you again for your efforts and continued contributions to the Company in connection with the merger.
| Sincerely, | ||
| NIC Inc. | ||
| By: | ||
| Harry H. Herington | ||
Acknowledgement and Acceptance
By my signature below, I acknowledge, agree to and accept the terms and conditions relating to the Retention Bonus as set forth in this letter. I further acknowledge that this letter constitutes the entire agreement regarding the Retention Bonus and supersedes any prior understandings, agreements, or representations by or among myself and the Company, written or oral, to the extent they related in any way to the subject matter hereof.
| By: | ||
| [NAME] |
Date: March 2, 2021
