Second Transition Period Sample Clauses

Second Transition Period. On the Second Transition Date, Executive shall relinquish the position of Executive Chairman and director of the Company and shall assume the role of a non-officer employee of the Company (a “Non-Officer Employee”). As a Non-Officer Employee, Executive shall perform such duties as may be reasonably requested by the Company’s Chief Executive Officer or the Board. Executive shall serve as a Non-Officer Employee from the Second Transition Date until March 1, 2022 (the “Final Transition Date,” and the period from the Second Transition Date until the Final Transition Date, the “Second Transition Period,” and the Second Transition Period together with the First Transition Period, the “Executive Transition Period”). During the Second Transition Period, Executive shall receive a base salary at an annual rate of $360,000, which shall be paid in accordance with the Employers’ normal payroll procedures, and shall be eligible to participate in such employee benefit plans, programs and policies as are available to non-officer employees of the Company. For the avoidance of doubt, Executive shall not be eligible for the Financial Planning Reimbursement or any other senior executive benefits or perquisites during the Second Transition Period. Executive shall not be entitled to receive any annual incentive compensation or grants of long-term incentive compensation during the Second Transition Period. During the Second Transition Period, Executive shall devote such business time and efforts to the business and affairs of the Employers as reasonably necessary to discharge the duties of a Non-Officer Employee contemplated by this Agreement (it being understood that such duties will typically require a substantially reduced time commitment of less than 40 hours per month), and Executive shall be entitled to engage in Outside Activities. Executive shall not become a director of any for profit entity without first receiving the approval of the Nominating/Governance Committee of the Board, which shall not be unreasonably withheld.
Sample 1
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Second Transition Period. Following the First
Sample 1
Second Transition Period. During the period from August 1, 2015 through the Anticipated Separation Date (the “Second Transition Period”), Executive shall at the Company’s reasonable request and upon reasonable notice, timely execute and deliver 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. In addition, at the Company’s reasonable request and upon reasonable notice, Executive will, from time to time, discuss and consult with the Company regarding business matters that he was directly and substantially involved with while employed by the Company. Executive shall not be required to report to work on a regular basis during the Second Transition Period.
Sample 1
Second Transition Period. You will continue to provide services to the Company as an employee during a Second Transition Period, from July 1, 2001 until the Separation Date. During this Second Transition Period: (i) your duties will be as directed by the CEO on a consulting basis working out of our Alameda, CA headquarters or your Lafayette, CA home office, working in the areas of acquisitions and mergers or other areas that are mutually agreeable; (ii) the Company will pay you $6,000.00 per month, less required withholdings and deductions, for the period July 1, 2001 through December 31, 2001, and the additional single lump sum of $14,000.00, less required withholdings and deductions, payable in January 2002, for the period from January 1, 2002 until the Separation Date; and (iii) the Company will continue to provide you with full benefits except vacation and sabbatical accrual.
Sample 1
Second Transition Period. During the Second Transition Period, the Executive’s compensation shall be as follows: (i) Annual base salary of $386,250, payable in accordance with the Company’s standard payroll practices, subject to tax withholding. (ii) Continued participation in the Company’s Short-Term Incentive Plan applicable to executive officers, with a bonus target of 50% of base salary earned from the Transition Date until September 30, 2017, and a maximum potential payout of 100% of such base salary, payable to Executive at such time as the annual bonuses for fiscal year 2017 are paid by the Company to its executive officers. (iii) Continued participation in the Short-Term Incentive Plan applicable to executive officers for fiscal year 2018, with a bonus target of 50% of base salary earned from October 1, 2017 to March 31, 2018 and a maximum potential payout of 100% of such base salary, payable to Executive at such time as the annual bonuses for fiscal year 2018 are paid by the Company to its executive officers. (iv) All Long-Term Incentive grants (restricted performance shares and restricted stock awards) will continue to vest during the Second Transition Period. Executive will not be eligible to receive any new grants during the Second Transition Period. (v) Executive will continue to be eligible to participate in the Plans. (vi) During the Second Transition Period, Executive will not be entitled to receive any additional compensation other than as set forth herein for his service as a director of the Company. Executive will maintain ownership of Company common stock in an amount equal to 5 times Executive’s annual base salary during the Second Transition Period.
Sample 1
Second Transition Period. Effective May 3, 2010, Executive shall have the position of Director and serve as its Non-Executive Chairman, provided that such service remains subject to the determination of the Board, from time to time, consistent with the Board’s exercise of its fiduciary duties and responsibilities under the Company’s Articles of Incorporation, By-laws and applicable law. In addition, from May 3, 2010 through July 28, 2010 (“Second Transition Period”), Executive shall remain an employee of the Company. At the end of the Second Transition Period, Executive’s employment with the Company shall terminate.
Sample 1

Related to Second Transition Period

  • Transition Period Due to the nature of our purchasing process, the District often requires an existing service provider to continue to provide goods and/or services while the District is in the process of advertising, evaluating, and awarding a contract for the provision of the same goods and/or services in the future. To accommodate this process, the Contractor shall agree to maintain the same terms and conditions set forth in this Agreement for a period up to ninety (90) days after the automatic termination of this Agreement at the end of its term, if requested by the District, as a transition period. In addition, if the Contractor is not the successful bidder for a future solicitation for the same or similar services, he or she shall agree to provide the same goods and/or services provided in this Agreement for a period up to ninety (90) days to allow for an orderly transition to the new provider. The District and the Contractor may mutually agree to a longer transition period.

  • Transitional Period At the end of the transitional period as defined in Article 10(2) of the Directive, the contracting parties shall cease to apply the withholding/retention tax and revenue sharing provided for in this Agreement and shall apply in respect of the other contracting party the automatic exchange of information provisions in the same manner as is provided for in Chapter II of the Directive. If during the transitional period either of the contracting parties elects to apply the automatic exchange of information provisions in the same manner as is provided for in Chapter II of the Directive it shall no longer apply the withholding/retention tax and the revenue sharing provided for in Article 9 of this Agreement.

  • Retention Period The Engineer shall maintain all books, documents, papers, accounting records and other evidence pertaining to costs incurred and services provided (hereinafter called the Records). The Engineer shall make the records available at its office during the contract period and for seven (7) years from the date of final payment under this contract, until completion of all audits, or until pending litigation has been completely and fully resolved, whichever occurs last.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Lock-Up Period Participant hereby agrees that Participant shall not offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Common Stock (or other securities) of the Company or enter into any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common Stock (or other securities) of the Company held by Participant (other than those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred and eighty (180) days following the effective date of any registration statement of the Company filed under the Securities Act (or such other period as may be requested by the Company or the underwriters to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto). Participant agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the Company, Participant shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described in this Section 4 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred and eighty (180) day (or other) period. Participant agrees that any transferee of the Option or shares acquired pursuant to the Option shall be bound by this Section 4.

  • Consideration Period You have 21 days from the date this Separation Agreement is given to you to consider this Separation Agreement before signing it. You may use as much or as little of this 21-day period as you wish before signing. If you do not sign and return this Separation Agreement within this 21-day period, you will not be eligible to receive the benefits described in this Separation Agreement.

  • PRORATION PERIOD The Tenant: (check one)

  • Service Period The Service Period of this Agreement is for 1 year in respect of the unit and starts on the Start Date as defined in the Terms and Conditions, or, in the case of an extension of renewal of the provision of Support Services, starts on the date of payment of the Charges.

  • Qualifying Period If a regular employee is promoted or transferred to a position, then that employee shall be considered a qualifying employee in her new position for a period of ninety (90) calendar days. If a regular employee is promoted or transferred to a position either within or outside the certification and is found to be unsatisfactory, she shall be returned to her previously held position. If a regular employee is promoted to a position, either within or outside the certification, and finds the position to be unsatisfactory, she shall be returned to her previously held position.

  • Retention periods Documentation which serves as evidence of orderly and proper data processing must be retained by ATOSS in accordance with the applicable statutory retention periods beyond the end of the contract. To relieve itself of this obligation, ATOSS may turn said documentation over to the Customer at the end of the contract.

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