Effect of Stockholders’ Agreement. The provisions of Sections B and C of this Article 14 (i) shall be subject to compliance with any procedures regarding corporate opportunities specified in the Stockholders Agreement and (ii) shall continue with respect to an Exempted Person until the first date that both of the following conditions are true (a) such Exempted Person’s applicable Stockholder Group is not entitled to designate at least one (1) Nominee to the Board of Directors of the Corporation pursuant to the Stockholders Agreement, and (b) no individual is serving on the Board who has at any time been designated as a Nominee by such Exempted Person’s applicable Stockholder Group.
Effect of Stockholders’ Agreement. (a) As provided in Section 4(a) of the Stockholders’ Agreement of even date herewith, by and among the Company,Derycz Scientific, Inc., a corporation organized under the laws of Nevada (“Derycz”), and Executive (the “Stockholders’ Agreement”), Derycz may purchase Executive’s shares of the Company’s capital stock at certain dates before the expiration of the Term of this Agreement. If Derycz exercises such option, and Executive is still employed by the Company at such time, Executive may either (i) continue his employment with the Company through the end of the Term at an increased base salary of One Hundred Thirty Five Thousand Dollars ($135,000) per year plus an amount, payable quarterly after the Company’s financial statements have been reviewed or audited, as applicable (the “Bonus”), equal to 5% of the net income, if any, as calculated under U.S. Generally Accepted Accounting Principles, of the Company before deduction of the Bonus; or (ii) resign from his position at the Company and collect a severance payment equal to his current Base Salary through the end of the term of this Agreement and will continue to be eligible to participate in the benefits made generally available by the Company to its executive staff, in accordance with the benefit plans established by the Company, and as may be amended from time to time in the Company’s sole discretion, until the end of the Term of this Agreement.
Effect of Stockholders’ Agreement. If the Grantee is, or at any time hereafter becomes, a party to or otherwise bound by (i) the Fifth Amended and Restated Stockholders’ Agreement, dated as of March 13, 2017, among the Company and certain stockholders and other investors in the Company, as such may be amended and/or restated from time to time and/or (ii) any other agreement that is a successor to or replacement of such agreement (collectively, the “Stockholders’ Agreement”), then, in the event of any conflict or inconsistency between the provisions of this Section 15 and any provisions in the Stockholders’ Agreement granting the Company and/or other security holders of the Company rights of first refusal and/or co-sale rights with respect to any or all of the Shares, the Grantee agrees with the Company that the terms and conditions of the Stockholders’ Agreement shall apply, govern, supersede and prevail over (and in lieu of) the provisions of this Section 15 so long as the Stockholders’ Agreement is in effect and the Grantee is a party to or bound thereby. If the Stockholders’ Agreement is no longer in effect or if the Grantee is not a party to or bound thereby, then the provisions of this Section 15 shall apply in full force and effect until termination of the Right of First Refusal.
Effect of Stockholders’ Agreement. The provisions of this -------------------------------- Agreement supersede and replace any provisions of other agreements entered into by and among the Stockholders that are inconsistent with this Agreement.
