Option Year Sample Clauses

Option Year. The Department shall have the right to extend the term of this Agreement for four (4) one-year option periods (each such period, an “Option Year”), the first of which would begin on the date that the base year Term expires; and the second of which would begin on the date that Option Year 001 expires and end one year from the date that Option Year 001 expires. In the event the Department desires to extend the Term of this Agreement pursuant to this Section 1.6, the Department shall give the Contractor written notice of such election at thirty
Sample 1
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Option Year. Each 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.
Sample 1
Option Year. The 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
Sample 1
Option Year. The 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.
Sample 1
Option Year. The 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.
Sample 1
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.
Sample 1
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.
Sample 1
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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 (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • 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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