Effectiveness and Expiration of the Contract. (1) This contract including all integral parts of the same shall become effective upon ac- ceptance of the offer by VGS. The contract shall end upon expiry of the service period agreed between the contractual partners.
Effectiveness and Expiration of the Contract. This Contract shall be effective as of January 1, 2016 and shall end on December 31, 2018, subject to earlier termination as provided in this Contract. The parties may renew the Contract by written agreement which will be executed on or before its expiration date. The parties are not obligated to renew the Contract. If either party wishes to renew the Contract, it will notify the other party in writing at least ninety (90) days prior to the expiration of the Contract. If either party gives notice of its intention to renew but the other does not wish to renew the Contract, or if both parties notify their intention to renew but do not reach an agreement as to the terms of the renewed contract, the employment of the CEO will terminate and the Contract will expire on December 31, 2018, except for Articles 15, 17 and 18, which shall survive such expiration. Upon the occurrence of any of the events described above in this paragraph, TSM will pay the CEO the equivalent of one year’s Base Salary in monthly installments and will extend the Fringe Benefits for one year, but only if the CEO was not the party notifying his interest not to renew the Contract. If the negotiations for a new contract extend beyond the expiration date and the CEO continues performing his services to TSM, TSM will continue to pay the CEO in accordance with Articles 7 and 10 of this Contract until such date as a new contract is signed or either party notifies, in writing, its decision to discontinue the negotiations, at which time all further CEO compensation will cease, except that TSM will pay the CEO the equivalent of one year’s Base Salary in monthly installments and will extend the Fringe Benefits for one year if the CEO is not the party that notifies its decision to discontinue the negotiations. The CEO and TSM hereby accept and acknowledge that the Contract will not be automatically renewed nor deemed to have been renewed because of the continuation of the negotiations beyond the expiration date. Upon the expiration of this Contract or discontinuation of the negotiations described above, the CEO will also have the right to payment of the deferred compensation under Article 8, all vested amounts under the LTIP and 401-K benefit plan, and the compensation described in the second paragraph of Article 13 related to vesting of equity and other awards under the LTIP. Any and all amounts payable and benefits provided pursuant to this Article other than vested amounts under the LTIP and defer...
Effectiveness and Expiration of the Contract. 4.1. This Contract shall come into force and effect on the date when signed by the Parties. 4.2. The Contract shall remain effective until the Parties fully perform their obligations hereunder. СТАТЬЯ IV. ВСТУПЛЕНИЕ ДОГОВОРА В СИЛУ И СРОК ДЕЙСТВИЯ ДОГОВОРА 4.1. Договор вступает в силу со дня его подписания Xxxxxxxxx. 4.2. Договор действует до окончательного исполнения Xxxxxxxxx принятых по нему обязательств.
