CFO Transition Period Sample Clauses

CFO Transition Period. You will continue as a full-time at-will employee of the Company in your role as the Company’s Chief Financial Officer (“CFO”) during the period beginning on the Effective Date (as defined below) through the commencement of the next CFO in such CFO role, but in no event later than the one-year anniversary of the Effective Date (such actual period you continue to serve as CFO, the “CFO Transition Period”). During the CFO Transition Period, you will continue receiving your regular annual base salary of $450,000 (“Salary”), less applicable withholdings, in accordance with the Company’s normal payroll practices, and remain eligible to receive an annual cash bonus for the Company’s fiscal year 2023, at a target bonus opportunity equal to $325,000 (your “Target Bonus”), subject to the terms and conditions of the Company’s Executive Incentive Compensation Plan (the “Bonus Plan”) and annual bonus program for fiscal year 2023 adopted thereunder (your “2023 Bonus Opportunity”). However, you will not be considered a participant in the Bonus Plan for any fiscal year after the Company’s fiscal year 2023 and accordingly, you will not be eligible for an annual cash bonus for the Company’s fiscal year 2024. During the CFO Transition Period, the Company will continue to reimburse you for reasonable expenses incurred by you in performing services for the Company, including Travel Expenses, provided you timely submit to the Company supporting receipts and/or documentation in form and substance reasonably acceptable to the Company for such expenses in accordance with Company’s reimbursement policy, as in effect from time to time (the “Reimbursement Policy”). For purposes of this Agreement, “Travel Expenses” refers to ordinary and reasonable expenses incurred by you for you and your family to travel from your personal residence in California to the Company’s Utah headquarters, including expenses for first class airfare for your spouse, lodging in close proximity to the Company’s Utah headquarters, and a rental car. Your airfare will be an upgradable coach seat for such travel, with any exceptions from time to time as determined in your reasonable discretion, as appropriate. No reimbursements will occur later than the 15th day of the third month following the later of (i) the end of the Company’s fiscal year in which such Travel Expenses are incurred or (ii) the end of the calendar year in which such Travel Expenses are incurred. To the extent any reimbursement for Travel Expen...
Sample 1
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CFO Transition Period. You will continue as a full-time at-will employee of the Company in your role as the Company’s Chief Financial Officer (“CFO”) during the period beginning on the Effective Date (as defined below) through the commencement of the Company’s next CFO in such CFO role (such actual period you continue to serve as CFO, the “CFO Transition Period”). During the CFO Transition Period, you will continue receiving your regular annual base salary of $715,000, less applicable withholdings, in accordance with the Company’s normal payroll practices. During the CFO Transition Period, you will remain eligible to receive the severance and other benefits set forth in your Amended and Restated Change in Control Severance Agreement with the Company effective December 14, 2021 (the “Severance Agreement”), subject to the satisfaction of the terms and conditions set forth therein. Further, during the CFO Transition Period, you will continue to be eligible to participate in the benefit plans and programs established by the Company for its employees from time to time, subject to their applicable terms and conditions, including without limitation any approvals or eligibility requirements. If you remain continuously employed in your role as CFO on the date the Company grants any 2025 salary adjustments, refresh or annual equity awards to its senior executives (expected to occur in or around March 2025), you will remain eligible to receive such salary adjustments and equity awards (including performance-based equity awards) with terms and conditions established by the Board of Directors (or its designated committee) with any performance-based metrics consistent with those approved for other senior executives of the Company. The Company reserves the right to modify, amend, suspend or terminate the benefit plans and programs it offers to its employees at any time.
Sample 1
CFO Transition Period. “CFO Transition Period” means the Employment Term and the twelve (12) month period following the completion of the Employment Term.
Sample 1

Related to CFO Transition Period

  • Transition Period Due to the nature of our purchasing process, the District often requires an existing service provider to continue to provide goods and/or services while the District is in the process of advertising, evaluating, and awarding a contract for the provision of the same goods and/or services in the future. To accommodate this process, the Contractor shall agree to maintain the same terms and conditions set forth in this Agreement for a period up to ninety (90) days after the automatic termination of this Agreement at the end of its term, if requested by the District, as a transition period. In addition, if the Contractor is not the successful bidder for a future solicitation for the same or similar services, he or she shall agree to provide the same goods and/or services provided in this Agreement for a period up to ninety (90) days to allow for an orderly transition to the new provider. The District and the Contractor may mutually agree to a longer transition period.

  • Retention Period The Engineer shall maintain all books, documents, papers, accounting records and other evidence pertaining to costs incurred and services provided (hereinafter called the Records). The Engineer shall make the records available at its office during the contract period and for seven (7) years from the date of final payment under this contract, until completion of all audits, or until pending litigation has been completely and fully resolved, whichever occurs last.

  • Transitional Period At the end of the transitional period as defined in Article 10(2) of the Directive, the contracting parties shall cease to apply the withholding/retention tax and revenue sharing provided for in this Agreement and shall apply in respect of the other contracting party the automatic exchange of information provisions in the same manner as is provided for in Chapter II of the Directive. If during the transitional period either of the contracting parties elects to apply the automatic exchange of information provisions in the same manner as is provided for in Chapter II of the Directive it shall no longer apply the withholding/retention tax and the revenue sharing provided for in Article 9 of this Agreement.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Vacation Period ‌ The choice of vacation periods shall be granted to employees on the basis of seniority with the Employer except where the period requested would be detrimental to the operation of the Employer.

  • Consideration Period You have 21 days from the date this Separation Agreement is given to you to consider this Separation Agreement before signing it. You may use as much or as little of this 21-day period as you wish before signing. If you do not sign and return this Separation Agreement within this 21-day period, you will not be eligible to receive the benefits described in this Separation Agreement.

  • Service Period The Service Period of this Agreement is for 1 year in respect of the unit and starts on the Start Date as defined in the Terms and Conditions, or, in the case of an extension of renewal of the provision of Support Services, starts on the date of payment of the Charges.

  • PRORATION PERIOD The Tenant: (check one)

  • Non-Competition Period The "non-competition period" shall begin on January 1, 2017 and shall end twelve (12) months after the Employee's termination of employment; provided, however, that the "non-competition period" shall end on the date Employee's employment ends in the event of Employee's termination for "good reason" (as defined in paragraph 6(d)), or Employee's termination without "cause" (as defined in paragraph 3(d)).

  • Consulting Period The Consulting Relationship will be deemed to have commenced on the Separation Date and will continue until October 15, 2023 unless the Consulting Relationship has already been terminated earlier pursuant to Section 3(g) below (the “Consulting Period”).

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