Additional Period. The Company shall have the irrevocable option to ----------------- extend the Term of this Agreement following the termination of the Initial Period for an additional two year period (the "Additional Period"), upon the same terms and conditions as during the Initial Period. Such option is exercisable by written notice sent on or before March 29, 2000.
Additional Period. The term of the Lease currently expires on July 31, 2005. The existing term of the Lease is hereby further extended for an additional seventeen (17) months commencing on August 1, 2005 and continuing through and including December 31, 2006 (the “Additional Period”). All references in the Lease and in this Amendment to “Term” shall mean the existing term of the Lease as extended through the Additional Period.
Additional Period. Provided that you remain employed through the end of the Subsequent Employment Period, on June 1, 2024 you will voluntarily transition from your current position with the Company and be employed in a different position by, become a consultant to, or serve on a managing board of, the Company or one of its subsidiaries or affiliates for the period commencing June 1, 2024, continuing quarterly by mutual agreement with the Company and ending no later than March 4, 2026 (the “Additional Period”). During the Additional Period, you will provide such services as may be mutually agreed upon from time to time by you and the CEO on a mutually agreed upon schedule and time commitment (the “Services”). This will confirm that your status during the Additional Period will be mutually agreed upon by you and the CEO. Section 2(b)(1) will be deleted and replaced in its entirety with the following:
(1) You will be eligible to receive a cash bonus for the 2023 calendar year pursuant to the terms and conditions of the Company’s Annual Bonus Plan. Such bonus shall be paid, if earned, when paid to all other senior executives of the Company in 2024, but in no event later than March 15, 2024.
Additional Period. 2.4.1 Subject to and in accordance with provisions of this Agreement, and upon completion of the License Period by efflux of time, the Authority shall, in the event it determines to undertake the continued management, operation and maintenance of the Project Facilities through PPP structure, may at its discretion extend the License Period by an additional maximum period of 5 (five) years through the ‘Right of First Refusal’ mechanism.
2.4.2 In such cases, the Authority shall, at any time prior to the date of expiry of the License Period, have the right to grant License with respect to the Project for a period which it may determine, in its sole discretion, after the expiry of the License Period, through competitive bidding amongst developers other than the Authority and any undertaking owned by it. The Authority further agrees that the Licensee shall have the right to participate in such competitive bidding and make its offer in accordance with the terms thereof. In the event that the Licensee is not the highest bidder, it shall have the first right of refusal (“ROFR”) to accept the concession, if it is able to match the highest bid. Provided that the Licensee shall be entitled to exercise such first right of refusal only in case the aggregate amounts paid by the Licensee to the Authority during the License Period in the nature of liquidated damages in accordance with the terms of this Agreement, are not more than 15% (fifteen per cent) of the amount of the Performance Security or not more than 5 (five) incidents of Licensee Default shall have occurred during the entire License Period. For the purposes of this Section 2.4, the aggregate amounts of liquidated damages paid by the Licensee to the Authority during the License Period shall be calculated at the present value, which shall be taken as on the Execution Date.
Additional Period. Provided that you remain employed through the end of the Part-Time Employment Period, on January 1, 2025, you will voluntarily transition to providing such services and in such status as shall be mutually agreed upon by you and the CEO on a mutually agreed upon schedule and time commitment (the “Services”) for such period as mutually agreed by you and the CEO (the “Additional Period”). You acknowledge and agree that the change in your position, duties, and responsibilities effective as of the beginning of the Additional Period will not constitute “Good Reason” under the Employment Agreement (to the extent it may remain in effect during the Additional Period) or under the Performance Share Unit Agreements dated March 4, 2022 and March 4, 2023, respectively, the Restricted Stock Unit Agreements dated March 4, 2022 and March 4, 2023, respectively, or any other outstanding equity award agreement, between you and the Company or any of its affiliates. Section 2 and 2(a) of the February 2023 Letter Agreement will be deleted and replaced in its entirety with the following:
Additional Period. During the Additional Period, you will receive such compensation or fees as may be mutually agreed between you and the CEO based upon the scope of responsibilities and time commitment. Section 2(b)(2) of the February 2023 Letter Agreement will be deleted and replaced in its entirety with the following:
Additional Period. Provided that you remain employed through the end of the Subsequent Employment Period, on March 5, 2024 you will voluntarily transition from your current position with the Company and be employed in a different position by, become a consultant to, or serve on a managing board of, the Company or one of its subsidiaries or affiliates for the period commencing March 5, 2024, continuing quarterly by mutual agreement with the Company and ending no later than March 4, 2026 (the “Additional Period”). During the Additional Period, you will provide such services as may be mutually agreed upon from time to time by you and the CEO on a mutually agreed upon schedule and time commitment (the “Services”). This will confirm that your status during the Additional Period will be mutually agreed upon by you and the CEO.
Additional Period. During the Additional Period, so long as you are an employee you will be paid $3,000 per month, to assist with benefits and related costs, and such other amounts as may be mutually agreed between you and the CEO based upon the scope of responsibilities and time commitment.
Additional Period. During the Additional Period, you will no longer be entitled to any severance benefits.
Additional Period. The University may designate an additional close-down of some or all of the University’s operations at any time during the year. Staff will be entitled to their ordinary pay during any such close down.
