Option Year Sample Clauses

Option YearThe Department shall have the right to extend the term of this Agreement for four (4) In the event the Department desires to extend the Term of this Agreement pursuant to this Section 1.5, the Department shall give the Contractor written notice of such election at least sixty (60) days prior to the beginning of the applicable Option Year.
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Option YearThe parties to the agreement shall negotiate on pay adjustments for the period 1 February 2020 to 31 January 2021 by the end of November 2019. If no agreement is reached on the pay adjustments, the parties are entitled to terminate the collective agreement to end on 31 January 2020.
Option YearThe Department shall have the right to extend the term of this Agreement for four (4) terms of one (1) year; provided that the Department shall give the Contractor preliminary written notice of its intent to exercise the option to extend the term of the Contract thirty (30) days prior to the expiration of the contract. The preliminary notice does not commit the Department to an extension. Contractor may waive the thirty (30) day notice requirement by providing a written waiver to the Contracting Officer prior to the expiration of the Contract.
Option YearThe Department may elected to unilaterally extend the term of this Agreement for a period of four (4), one (1)-year option periods (each an “Option Period”), or successive fractions thereof, by written notice to the Contractor before the expiration of the Agreement; provided that the District will give the Contractor preliminary written notice of its intent to extend at least thirty (30) days before the Agreement expires. The preliminary notice does not commit the Department to an extension. The exercise of any Option Period is subject to the availability of funds at the time of the exercise of this option. The Contractor may waive the thirty
Option Year a. The District hereby exercises its option year for the 2018-19 school year and extends the Term of the Agreement through June 30, 2019. The Parties expressly waive the deadline for exercising the option year set forth in the First Amendment. b. The Parties agree to add a third District option to extend the Agreement on the same terms for the 2019-20 school year. District shall have the right to exercise option year 2019-20 on or before June 1, 2019. District, at its sole and exclusive discretion, shall determine whether to exercise the option year. The District may consider numerous factors, including but not limited to the goals and targets set forth in the Original Agreement, including those set forth in paragraphs 3.2, 4.1, and 6.4.
Option YearEach Purchaser may exercise the Option Year contemplated by Section 17 (Master Agreement) and Section 18 (Bus Purchase Agreement with Supplier), by providing to Metrolinx notice in writing of its intention to do so no later than forty-five (45) calendar days prior to the completion of the current term of the Master Agreement. Such notice may be provided by that Party’s Member. Notwithstanding anything in this Agreement to the contrary, in the event that no Purchaser notifies Metrolinx of its intention to exercise the Option Year under the Master Agreement, the Master Agreement shall be deemed to be at an end and shall expire at the completion of its current term.
Option Year. A. FAST MOVES shall have the option, at its sole discretion, to extend the Contract Term for a Third Contract Year to be defined as the period from October 1, 1990 to September 30, 1991. FAST MOVES must notify PLAYER, in writing, of its intention to exercise the option provided herein on or before July 1, 1990. B. In the event FAST MOVES decides to exercise the option provided by this Xxxxxxxxx 0, Xxxx Compensation for the Third Contract Year shall be the total of PLAYER'S earnings in Base Compensation and Performance Bonuses earned during the Second Contract Year plus twenty percent (20%) of such Second Contract Year earnings. For illustration purposes only: in the event at the end of the Second Contract Year, PLAYER has earned, under the terms of this Contract, One Hundred Twenty-five Thousand Dollars ($125,000.00) in Base Compensation and Thirty Thousand Dollars ($30,000.00) in Performance Bonuses, the PLAYER's Base Compensation for the Third Contract Year will amount to Two Hundred Twenty-five Thousand Five Hundred Dollars ($225,500.00) as calculated by the following: $205,000.00 x 10% = $20,500.00 + $205,000.00 = $225,500.00. C. If FAST MOVES chooses not to exercise the option provided by this Paragraph 4, PLAYER shall still be subject to the Right of First Refusal provisions contained in Paragraph 14.
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Related to Option Year

  • Vacation Year The vacation year shall be April 1 to March 31, inclusive.

  • Limitation Year The Limitation Year is: (Choose (c) or (d)) [ x ] (c) The Plan Year. [ ] (d) The 12 consecutive month period ending every _____.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Tax Year The Partnership’s tax year will end on , 20 .

  • Fiscal Year; Taxable Year The fiscal year and the taxable year of the Company is the calendar year.

  • Calendar Year Calendar Year" for the purposes of this Agreement shall mean the twelve (12) month period from January 1st to December 31st, inclusive.

  • Elective Deferrals Any Employer contributions made to the Plan at the election of the Participant, in lieu of cash compensation, and shall include contributions made pursuant to a salary reduction agreement or other deferral mechanism. With respect to any taxable year, a Participant's Elective Deferral is the sum of all employer contributions made on behalf of such Participant pursuant to an election to defer under any qualified cash or deferred arrangement as described in section 401(k) of the Code, any salary reduction simplified employee pension described in section 408(k)(6), any SIMPLE IRA Plan described in §408(p), , any plan as described under section 501(c)(18), and any employer contributions made on the behalf of a Participant for the purchase of an annuity contract under section 403(b) pursuant to a salary reduction agreement. Elective Deferrals shall not include any deferrals properly distributed as excess annual addition. For years beginning after 2005, the term “elective Deferrals” includes Pre-tax Elective Deferrals and Xxxx Elective Deferrals. Pre-tax Elective Deferrals are a participant’s Elective Deferrals that are not includible in the participant’s gross income at the time deferred. The Employer may, if notification is made within a reasonable time and in a manner described in IRS Revenue Ruling 2000-8, 2000-7 IRB617, allow for negative elections. If such administrative provision applies and the Employee does not affirmatively elect to not participate and the Employee does not affirmatively elect a different amount (including no amount), a default amount shall be deducted from the Employee’s Compensation. Such default amount shall be part of the initial notification received by the Employer. If negative elections apply under the Plan, the Employer shall indicate whether the default shall be a pre-tax Elective Deferral or a Xxxx Elective Deferral in the Adoption Agreement.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Taxable Year The taxable year of the Partnership shall be the calendar year.

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

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