CFO Status Sample Clauses

CFO Status. (a) In accordance with Section 2.1, at any time during the Employment Period after April 1, 2002, the Company shall have the right to terminate the Employee's status as Senior Vice President and Chief Financial Officer of the Company without terminating the Employee's employment with the Company or this Agreement. In addition, at any time during the Employment Period after the earlier of May 1, 2003 and the date one month following the date of the hiring by the Company of a replacement candidate qualified for the position of Chief Financial Officer of the Company (an event of which the Board Designee shall promptly notify the Employee), but in no event earlier than May 1, 2002, the Employee may resign as Senior Vice President and Chief Financial Officer of the Company without terminating his employment with the Company or this Agreement. Termination of the Employee's status as Senior Vice President and Chief Financial Officer in accordance with this Section 2.2(a) (whether initiated by the Company or the Employee) (the "CFO Termination Event") shall be effective immediately upon written notice to the other party. (b) For one month (the "Transition Period") following the CFO Termination Event, the Employee shall continue to serve as a full-time employee of the Company on the terms set forth in this Agreement; provided, however, that the Employee's authority, duties and responsibilities during the Transition Period shall be mutually agreed upon between the Employee and the Board Designee. (c) Upon the occurrence of the CFO Termination Event, the Employment Period shall automatically be extended to the date 13 months after the date of the CFO Termination Event without any further right of renewal, subject to earlier termination in accordance with this Section 2.2 or Sections 4.2, 4.3 or 4.5 of this Agreement. Following the CFO Termination Event, neither party shall have the right to terminate this Employment Agreement under Section 4.4 of this Agreement. (d) During the period between the end of the Transition Period and the end of the Employment Period (the "Closing Period"), the Employee shall continue to serve as an employee of the Company on the terms set forth in this Agreement; provided, however, that during the Closing Period the Employee shall not be required to devote his entire business time, attention and energies to the Company, and instead shall have such authority, duties and responsibilities as shall be mutually agreed upon by the Employee and t...
Sample 1
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Related to CFO Status

  • Legal Status Borrower is a corporation, duly organized and existing and in good standing under the laws of Delaware, and is qualified or licensed to do business (and is in good standing as a foreign corporation, if applicable) in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower.

  • Travel Status Travel by an employee, outside the College region on College business, where authorization for such travel has been requested in advance on the appropriate form, and approved by the College.

  • Shell Status The Company represents that it is not a “shell” issuer and has never been a “shell” issuer, or that if it previously has been a “shell” issuer, that at least twelve (12) months have passed since the Company has reported Form 10 type information indicating that it is no longer a “shell” issuer. Further, the Company will instruct its counsel to either (i) write a 144- 3(a)(9) opinion to allow for salability of the Conversion Shares or (ii) accept such opinion from Holder’s counsel.

  • Professional Status The Superintendent affirms that he is not under contract with any other board of education covering any part or all of the term provided in this contract. Throughout the contract term, he will hold a valid and appropriate certificate to act as a superintendent of schools in the State of Nebraska which he will register and maintain on file in the school district’s central administrative office. This contract shall not be valid and the Board will not compensate the Superintendent for any service performed prior to the date that he registers his certificate.

  • Organizational Status The Borrower is validly organized and existing and in good standing under the laws of the state or jurisdiction of its incorporation or organization, is duly qualified to do business and is in good standing as a foreign entity in each jurisdiction where the nature of its business requires such qualification (except where the failure to be so qualified would not reasonably be expected to result in a Material Adverse Effect), and has full power and authority and holds all requisite governmental licenses, permits and other approvals to enter into and perform its obligations under this Agreement, to own and hold under lease its property and to conduct its business substantially as currently conducted by it.

  • Company Status The Company is a corporation duly formed and validly existing under the general laws of the State of Maryland, with all requisite power and authority to enter into this Agreement and to carry out its obligations hereunder.

  • Partnership Status The parties intend to treat the Partnership as a partnership for U.S. federal income tax purposes.

  • Financial Status The average annual turnover from similar jobs, of the firm should not be less than 15 Lakhs in the last three years. Copies of profit & loss account and balance sheets duly authenticate by a Chartered Accountant for the last three years should be enclosed.

  • Independent Status The employees, volunteers, or agents of each party who are engaged in the performance of this Agreement will continue to be employees, volunteers, or agents of that party and will not for any purpose be employees, volunteers, or agents of the other party.

  • Certification Status The Engineer certifies that it is not: 1. a person required to register as a lobbyist under Chapter 305, Government Code; 2. a public relations firm; or 3. a government consultant.

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