Retention Option. Landlord has the right (the "RETENTION OPTION"), but not the obligation, exercisable in its sole and absolute discretion, at any time there is no Bona Fide Offer in effect, to elect by express written notice to Tenant (the "RETENTION NOTICE"), to terminate its obligation to use commercially reasonable efforts to sell one or more of the Disposition Facilities pursuant to this Section 27 and to retain ownership of such Disposition Facility. This Master Lease shall terminate as to such Disposition Facility on the date chosen by Landlord, which shall be the sixtieth (60th) day after such Retention Notice (or such earlier date as Landlord may designate and which shall be subject to change from time to time upon notice by Landlord provided that termination of the Master Lease occurs on or before such sixtieth (60th) day). Upon such termination date, (a) the Landlord's Investment shall be reduced by an amount equal to the Target Purchase Price, and (b) Minimum Rent shall be recalculated and reset in accordance with Section 2.2(b) based upon the reduction of the Landlord's Investment in accordance with the immediately preceding clause (a). The Retention Option is not intended to require termination of the Master Lease in the event Landlord does not receive any offer to sell the Disposition Facility for an amount equal to a greater than its applicable Minimum Purchase Price by a Bona Fide Offer prior to the expiration of the Marketing Period, in which event Landlord may retain such Disposition Facility and the Master Lease shall remain in full force and effect with respect to such Disposition Faculty without modification of the Landlord's Investment or the Minimum Rent. At the request of Landlord, Tenant shall operate the applicable Disposition Facility after the termination of this Master Lease following the exercise of the Retention Option for a management fee equal to five percent (5%) of the gross revenues from such Disposition Facility and otherwise in accordance with a management agreement on market terms reasonably acceptable to both Landlord and Tenant. The term of such management agreement shall be one (1) year, and shall automatically renew for successive one (1) year periods unless either party provides written notice of termination at least thirty (30) days prior to the expiration of the then current term. Landlord may terminate any such management agreement upon ten (10) days prior notice to Tenant in connection with the sale or lease of such Dispositi...
Retention Option. Tenant shall not be responsible for any payments pursuant to Section 7.1 in excess of $5,000,000 (aggregated against all Terminating Leased Properties) unless Lessor (or a potential purchaser or lessee from Lessor), for any Terminating Leased Property that would cause such payments to exceed $5,000,000, first delivers to Tenant an estimate of the Compliance Costs for such Terminating Leased Property and Tenant fails to notify (a “Retention Notice”) Lessor within 10 business days thereafter that it has elected to remove such Terminating Leased Property from the set of Terminating Leased Property. If Tenant timely delivers a Retention Notice for a Terminating Leased Property, then such Terminating Leased Property shall cease to be a Terminating Leased Property and, notwithstanding anything to the contrary herein, shall remain leased under its applicable Master Lease in accordance with the terms thereof.
Retention Option. As soon as administratively practicable after the Closing, you shall be granted a stock option award under the Company’s 2021 Omnibus Incentive Plan (“Equity Plan”), subject to the approval of the board of directors of the Company (which approval the Company shall recommend), with a grant date fair value of $112,500. The Retention Option will become vested and exercisable in two equal installments on the first day of the seventh month after the Closing and the first anniversary of the Closing, provided that you remain in continuous service with the Company as its Chief Financial Officer through each such date under the Consulting Agreement between the Company and Xxxxxxxx Advisors, LLC dated September 27, 2019, as subsequently amended (the “Consulting Agreement”). Any unvested portion of the Retention Option shall also become vested and exercisable if your service to the Company is terminated by the Company before the first anniversary of the Closing for any reason other than “Cause” (as defined in the Consulting Agreement). The Retention Option grant will be subject to the terms of the Equity Plan and the option award agreement thereunder, which will include other standard terms and conditions not inconsistent with the foregoing, and which, in all events, will govern and control the Retention Option award.
Retention Option. Notwithstanding anything to the contrary contained in Section 27, Tenant shall have the option ("Retention Option") to retain the Twelfth Floor Space as part of the Premises during Months 37 through 72 of the Term, as follows:
Retention Option. 2.11 SAP..................................................................3.6 Section 363/365 Hearing..............................................5.4 Securities...........................................................2.9 Seller..........................................................
Retention Option. Notwithstanding anything in Section 2 to the contrary, Tenant shall have the option to retain Suite 820N as part of the Premises (“Retention Option”). Tenant may exercise the Retention Option by providing written notice (“Retention Notice”) on or before September 30, 2025 (“Notice Deadline”) of Tenant’s election to maintain possession of Suite 820N past the Surrender Date. Should Tenant fail to provide the Retention Notice to Landlord on or before the Notice Deadline, the Retention Option shall be null and void and of no further force or effect and, subject to Sections 11 and 12 below, Tenant shall have no rights relating to Suite 820N after the Surrender Date. Should Tenant deliver the Retention Notice to Landlord on or before the Notice Deadline, then, as of the date of the Retention Notice, the definitions of “Surrendered Premises” and “Remaining Premises” shall automatically be amended so that Suite 820N shall no longer be part of the Surrendered Premises and instead shall be part of the Remaining Premises, Sections 8(a) and 8(b) above shall automatically be amended to increase the Monthly Base Rental by $45,911.70 and Annual Base Rental by $550,940.40, and Tenant shall be entitled to the Suite 820N Allowance (as defined in Section 15(a)(v) below).
Retention Option. The Company shall grant to Executive on the Execution Date a stock option to purchase 20,000 shares of common stock of the Company (the “Retention Option”) under the Amended and Restated Xenetic Biosciences, Inc. Equity Incentive Plan, as amended from time to time (the “Plan”) at an exercise price equal to the fair market value of the Company’s common stock on the grant date (i.e., the Execution Date). The Retention Option shall vest one-fourth on the grant date, one-fourth upon the first anniversary of the Execution Date, one-fourth upon the second anniversary of the Execution Date and one-fourth upon the third anniversary of the Execution Date, provided the Executive remains employed with the Company on the applicable vesting date. The Retention Option shall be evidenced in writing by, and subject to the terms and conditions of, the Plan, and, except as otherwise set forth herein, the Company’s standard form of stock option agreement, which agreement shall expire ten (10) years from the date of grant except as otherwise provided herein, in the stock option agreement or the Plan. Executive agrees that he will not loan or pledge any securities of the Company owned by him or which he may accrue in the future through Stock Options or other equity awards as collateral for any indebtedness.”
Retention Option
