Initial Transition Period Clause Samples

Initial Transition Period. The Contractor shall work expeditiously to ensure transition of services from the incumbent vendor (if the incumbent is not the Contractor) to the Contractor by the Services Commencement Date. The Contractor shall provide the deliverables required in Exhibit J, DMS PMO Transition Plan Requirements. Failure to timely submit the transition plan shall result in a financial consequence of $10,000 per day from the first management payment. Failure to complete all milestones identified in Exhibit J, DMS PMO Transition Plan Requirements, within the Contractor’s control, shall result in a financial consequence of $10,000 per milestone, per day from the first management payment.

Initial Transition Period. During the Initial Transition Period, the Fee shall be paid as follows: (1) On the Effective Date, $800,000; (2) 90 days following the Effective Date, $700,000; (3) 180 days following the Effective Date, $400,000; (4) 270 days following the Effective Date, $300,000; and (5) first anniversary of the Effective Date, $300,000.

Initial Transition Period. The "Initial

Initial Transition Period. With effect from the Effective Date and until completion of the Initial Transition Period, all commercial sales of the Product shall be for Cardiome's benefit, at Cardiome's cost and risk, subject to the terms of this Agreement and the Transitional Services Agreement (TSA), which is attached as Schedule 9. During the Initial Transition Period (as defined in the TSA), Basilea shall, as particularly set forth in the TSA, continue to operate the business in normal course and Cardiome shall receive the benefit of the sales of the Product from which shall be deducted Basilea’s costs of operating the business.

Initial Transition Period. Upon the commencement of the Transition Period and until September 30, 2022 (such period, the “Initial Transition Period”), I will no longer retain any officer or similar titles with the Company or any subsidiary, or serve in any such roles, but will instead continue to serve in an executive capacity, and initially be responsible for transition of the operational leadership of the Company to the person(s) selected by the Board (and who will report to the CEO, not me) to serve in my stead, and I will serve, as and to the extent from time to time specified by the Board or the CEO, as an advisor to the Company and such individual(s) to help support the Company’s business operations. It is anticipated and expected of me that, during the Initial Transition Period, I will devote approximately 75% of the time historically devoted by me to the continued performance of my duties for the Company, a significant portion of which will be by remote means. I will work on site from time to time as required by the CEO to attend meetings and similar group functions.

Initial Transition Period. During the period from the Effective Date through July 31, 2015 (the “Initial Transition Period”), Executive shall continue to devote his full time, attention and energy to performing his duties and responsibilities to the Company. Executive’s responsibilities and duties during the Initial Transition Period shall include such duties as requested by the Chief Executive Officer, which may include, without limitation, (i) assisting with ongoing matters on which he worked prior to the Effective Date, (ii) facilitating the transition of his prior responsibilities, and (iii) timely executing and delivering such acknowledgements, instruments, certificates, and other ministerial documents (including without limitation, certification as to specific actions performed by Executive in his capacity as an officer of the Company) as may be necessary or appropriate to formalize and complete the applicable corporate records. Notwithstanding the foregoing, during the Initial Transition Period, the Company will permit Employee reasonable time to begin a search for other employment, including interviewing and other activities associated with searching for and obtaining new employment.

Initial Transition Period. Licensee Manufacturer currently markets product in the field under the Licensee Manufacturer ▇▇▇▇ in the Territory, and the Parties recognize that a transition period is necessary to replace the product in the field sold under the Licensee Manufacturer ▇▇▇▇ with Product sold under the Co-Brand. The Parties agree that it is their mutual intent that the transition be completed at the earliest possible date following execution of this Agreement (with 90 days to be the target date), with the Parties exercising their best efforts, taking into account: (a) utilization of existing inventory of product in the field currently marketed under the Licensee Manufacturer ▇▇▇▇; (b) preparation of the packaging and advertising material to market the Product; (c) effecting a smooth transition to the Product so as not to adversely affect current customers of product in the field sold under the Licensee Manufacturer ▇▇▇▇; and (d) assuring effective distribution of the Product.

Initial Transition Period. During the Initial Transition Period, the Company will continue to pay me my Base Salary, but at a reduced amount equal to 75% of the amount in effect as of the end of the Pre-Transition Period, and to provide me with those fringe benefits and perquisites as paid or provided to me, or in which I participated, immediately prior to the start of the Initial Transition Period.

Initial Transition Period. The Contractor shall work expeditiously to ensure transition of services from the incumbent vendor (if the incumbent is not the Contractor) to the Contractor by the Services Commencement Date. The Contractor shall provide the deliverables required in Exhibit J, DMS PMO Transition Plan Requirements.