FORFEITURE ADJUSTMENTS Sample Clauses

FORFEITURE ADJUSTMENTS. Contribution amounts forfeited by death or turnover shall be reallocated at the end of each plan year (on or after June 1st) among the then remaining employee accounts. This redistribution shall occur in a manner similar to that used initially in determining the present value calculations. Those who will not share in the reallocation include those who forfeited their accounts in the same year, those who previously forfeited their accounts, or those who terminated employment in or before the year of the reallocated forfeiture. If an employee dies before eligibility for retirement, his or her contribution is included in the next year’s forfeiture adjustments. If an employee dies after eligibility for retirement, the account balance is distributed to his or her identified beneficiaries or estate.
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FORFEITURE ADJUSTMENTS. Purchaser hereby agrees that prior to, or at the time of, the initial business combination, in order to facilitate such initial business combination, Battery Future Sponsor, LLC (the “Sponsor”) may (i) surrender, forfeit or transfer some or all of its Founder Shares and/or any other securities of, or instruments issued by, the Company, including for no consideration, (ii) subject its Founder Shares to earn-outs, vesting, revesting, lock-up, registration rights or other restrictions, (iii) amend the terms under which its Founder Shares and/or any other securities of, or instruments issued by, the Company were issued, or any restrictions or encumbrances or other provisions relating to its Founder Shares and/or any other securities of, or instruments issued by, the Company set forth in the documents establishing the same (including voting in favor of any such amendment) or enter into any other arrangements with respect to the Founder Shares and/or any other securities of, or instruments issued by, the Company, or (iv) waive or amend any agreement or provision of any organizational document of the Company or agreement entered into with the Company (the “Adjustments”). Purchaser hereby agrees to be bound by any such Adjustments, which shall apply pro rata to all holders of Founder Shares, except with respect to (x) up to an aggregate total of 625,000 Founder Shares held, directly or indirectly (including through the Sponsor), by independent directors of the Company and (y) up to an aggregate total of 550,000 Founder Shares held, directly or indirectly (including through the Sponsor), by directors or board advisors of the Company designated by Pala Investments Limited, a Jersey limited liability company (“Pala”), or by Pala or otherwise designated by Pala. Furthermore, any amount that is required by the Company’s governing documents to be added to the Company’s trust account in connection with the exercise of an extension of the term of the Company, as approved by the Company’s board in accordance with its governing documents, shall be funded by the Sponsor, Pala, Purchaser and other holders of Founder Shares in proportion to the amount of capital funded by such holder (or the original transferor of Founder Shares held by such holder).
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Related to FORFEITURE ADJUSTMENTS

  • Share Adjustments If the Company's outstanding shares of Common Stock are increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Company by reason of any recapitalization, reclassification, stock split, combination of shares, stock dividend, or transaction having similar effect, the Board shall proportionately and appropriately adjust the number and kind of shares that are subject to this Option and the Exercise Price Per Share, without any change in the aggregate price to be paid therefor upon exercise of this Option.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Stock Adjustments In the event that during the term of the pledge any stock dividend, reclassification, readjustment or other changes are declared or made in the capital structure of Pledgee, all new, substituted and additional shares or other securities issued by reason of any such change shall be delivered to and held by the Pledgee under the terms of this Security Agreement in the same manner as the Shares originally pledged hereunder. In the event of substitution of such securities, Pledgor, Pledgee and Pledgeholder shall cooperate and execute such documents as are reasonable so as to provide for the substitution of such Collateral and, upon such substitution, references to "Shares" in this Security Agreement shall include the substituted shares of capital stock of Pledgor as a result thereof.

  • Compensation Adjustments Any compensation agreed to hereunder may be adjusted from time to time by mutual agreement by attaching revised Schedules A or B to this Agreement.

  • Performance Adjustment One-twelfth of the annual Performance Adjustment Rate will be applied to the average of the net assets of the Portfolio (computed in the manner set forth in the Fund's Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month and the performance period.

  • Tax Adjustments The Company may make such reductions in the Purchase Price, in addition to those required by Sections 3, 4, 5, 6, 7 and 8, as the Board of Directors considers to be advisable to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes.

  • Fee Adjustments The fixed fees and other fees expressed as stated dollar amounts in this Schedule C and in this Agreement are subject to annual increases, commencing on the one-year anniversary date of the date of this Agreement, in an amount equal to the percentage increase in consumer prices for services as measured by the United States Consumer Price Index entitled “All Services Less Rent of Shelter,” or a similar index should such index no longer be published, since such one-year anniversary or since the date of the last fee increase, as applicable.

  • Salary Adjustments At any time during the term of this Contract, the Board may, in its discretion, review and adjust the salary of the Superintendent, but in no event shall the Superintendent be paid less than the salary set forth in Section 3.1 of this Contract except by mutual agreement of the two parties. Such adjustments, if any, shall be made pursuant to a lawful Board resolution. In such event, the parties agree to provide their best efforts and reasonable cooperation to execute a new contract incorporating the adjusted salary.

  • Wage Adjustments If the funding available to be used for wages provided by Government in any fiscal year increases, the Employer shall pass on such increases to employees consistent with the funding increase adjusted for any additional deficits that this contract incurs. This will be the case whether the funding increase is for the entire year or simply a portion of it, and wage increases shall be effective upon the effective date of the increased funding. Should there be no increase provided by Government, wages will be maintained at their present levels. Should there be a decrease in funding, then the Employer will maintain wages at present levels. The Employer will promptly provide the Union with any information it receives from the Government regarding funding available for wages, and the parties will meet as required to work towards cooperative resolution of any issues arising from this Government information.

  • Cost Adjustments Both parties agree that contracted prices shall be fixed for the first 12 months of this Contract. Contractor must submit to District any proposed cost adjustments at least 60 days before the proposed effective date of such increases with a detailed explanation for each adjustment. District alone reserves the right to reject any changes to this Contract it deems unacceptable.

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