Amendment to Term of the Original Employment Agreement defining the term “Term” is hereby amended and restated to read as follows:
Amendment to Term of the Agreement is hereby amended as follows: The employment of the Executive by the Company under the provisions of this Agreement shall end on December 31, 2010, unless further extended or sooner terminated as hereinafter provided. On December 31, 2010, and on the last day of December each year thereafter, the term of the Executives employment shall, unless sooner terminated as hereinafter provided, be automatically extended for an additional two year period from the date thereof unless, at least six (6) months before such December 31, the Company shall have delivered to the Executive or the Executive shall have delivered to the Company written notice that the term of the Executives employment hereunder will not be extended beyond its existing duration.
Amendment to Term. The first sentence of Section 10(a) of the Agreement is hereby amended by deleting the words “January 6, 2020” and substituting in lieu thereof “December 31, 2021”. The period of the New Research shall be referred to as the “Extended Term.”
Amendment to Term. The Term and Duration, as set forth in Section 3 of the First Amendment, is deleted in form and substance, and replaced with the following new Section 3,:
Amendment to Term. Section 1.1 of the Agreement is deleted in its entirety, and is amended to read as follows:
Amendment to Term. Effective June 5, 2017, Section 2 of the Agreement is replaced in its entirety with the following: “The term of this Agreement (the “Term”) will begin immediately following the “Effective Time” specified in the Separation and Distribution Agreement (the “Separation Agreement”) to be executed and delivered by LE and Sears Holdings Corporation (“SHLD”) (the date on which the Effective Time occurs, the “Effective Date”) and will end, unless terminated earlier, on June 29, 2017. The day that becomes the Effective Date will be inserted in the recitals once the Effective Date has occurred.”
Amendment to Term. The Company and PBM agree that, effective as of the Effective Date, Section 5(a) of the Agreement shall be deleted in its entirety and replaced with the following:
Amendment to Term. Section 11.1(a) of the License Agreement is hereby ----------------- amended by deleting the first sentence thereof in its entirety and inserting the following sentence in replacement therefor: "This Agreement shall commence on the date hereof and shall be in effect for a term ending July 17, 2005, unless terminated earlier pursuant to this Section 11."
Amendment to Term. Section 3 of the 2009 Warrant (captioned “Period of Exercise”) is hereby amended to read in its entirety as follows: This Warrant is exercisable, subject to the following limitations, at any time or from time to time during the period beginning on the Issuance Date and ending on March 22, 2016.
Amendment to Term. Section 4.1 of the Forbearance Agreement is superseded and replaced in its entirety with the following:
