Common use of Effectiveness of Certain Provisions Clause in Contracts

Effectiveness of Certain Provisions. Notwithstanding anything to the contrary in this Agreement, Sections 2(a), 2(b) and 3(c) of this Agreement shall not be of any legal force or effect whatsoever unless and until the IPO Closing (as defined below), at which time such sections shall become effective unless Employee has ceased to be employed by the Company prior to the date of the IPO Closing or this Agreement has otherwise been terminated prior to the date of the IPO Closing. If Employee is still employed by the Company upon the IPO Closing, then within five (5) days after the IPO Closing the Company shall pay to Employee an amount equal to: (a) the Base Salary (as defined in Section 2(a) below) pro rated for the period of time between the Effective Date and the IPO Closing; minus (b) the amount of any other salary that the Company paid to Employee for the period of time between the Effective Date and the IPO Closing. As used in this Agreement, the term "IPO Closing" means the closing of the Company's initial public offering under the Securities Act of 1933, as amended.