Vested Entitlements. It is understood and agreed that at such time as an employee accepts severance pay in accordance with this Agreement, and the severance pay is paid in full, the employee's employment shall be terminated and such employee shall have no further rights or entitlements under this Agreement, except for the following:
Vested Entitlements. Subject to the provisions and conditions of this Agreement, County agrees that County is granting, and grants herewith, a fully vested entitlement and right to develop the Property in accordance with the terms and conditions of this Agreement and the Entitlements. County acknowledges that the Entitlements include the land uses and approximate acreages for the Property as shown and described in Exhibit 2.2 attached hereto. Such uses shall be developed in accordance with the Entitlements, as such Entitlements provide on the Effective Date of this Agreement and/or as any Subsequent Entitlements provide on the date of approval thereof by County. Developer's vested right to proceed with the development of the Property shall be subject to a subsequent approval process as specified in the Specific Plan, provided that any conditions, terms, restrictions and requirements for such subsequent approvals shall not prevent development of the Property for the uses set forth in the Entitlements, or reduce the density and intensity of development, or limit the rate or timing of development set forth in this Agreement, so long as Developer is not in default under this Agreement. Notwithstanding anything to the contrary in this Section 2.2, Developer agrees that, as a condition precedent to the approval of any tentative large lot subdivision or parcel map that will not create individual buildable lots for single-family residential development (a “Tentative Large Lot Map”) or any tentative small lot map proposing to create individual buildable lots for any portion of the Property (a “Tentative Small Lot Map”), Developer shall have first received approval of a Development Phase and Phasing Plan as required by Section 3.5. The Development Phase shall delineate the boundaries of the portions of the Property proposed to be used for any of the public facilities or areas as set forth in Sections 3.3 or 3.13.2 herein.
Vested Entitlements. City acknowledges that Developers have, by entering into this Agreement and by City’s approval of the Entitlements, vested Developers’ rights to develop the Project in accordance with the Entitlements.
Vested Entitlements. In the event that the termination occurs before the amount of the incentive compensation for services rendered in the year preceding the date of termination has been finally determined, then the payment to the Employee shall be an estimate based on the Employee’s targeted bonus with an adjustment to be made promptly upon the determination of the actual amount pursuant to the Company’s Incentive Compensation Plan.
Vested Entitlements. In the event that the termination occurs before the amount of the incentive compensation for services rendered in the year preceding the date of termination has been finally determined, then the payment to the Employee shall be an estimate based on the Employee’s targeted bonus with an adjustment to be made promptly upon the determination of the actual amount pursuant to the Company’s Incentive Compensation Plan. All restricted stock, restricted stock units and stock options and other service-based or performance-based equity awards held by Employee on the date of termination shall vest and be paid in accordance with the equity plan and agreement pursuant to which they were issued. The fringe benefits provided to Employee during the Term of this Agreement pursuant to Section 3.4 of this Agreement shall continue for 24 months after Retirement to the extent permitted by, and in accordance with, applicable law provided, however, that to the extent such benefits are provided pursuant to life, health, disability, dental or similar benefit plans of the Company, in lieu of continuing coverage, the Company shall pay to the Employee, on the 60th day after termination of employment, a lump sum equal to the amount which the Company would have paid to provide such benefits if the employment of the Employee had continued for an additional 24 months. Minimum Retirement Age shall mean that age, which when combined with years of service to the Company, shall equal 70 provided that the actual age of Employee must be 58 or greater.
Vested Entitlements. Subject to the provisions and conditions of this Agreement, County agrees that County is granting, and grants herewith, a fully vested entitlement and right to develop the Property in accordance with the terms and conditions of this Agreement, the Entitlements, and all of the rules, regulations, ordinances, specifications, standards and officially adopted policies in effect as of the Effective Date, including, but not limited to the County Code (collectively, the “Applicable Rules”). County acknowledges that the Entitlements include the land uses and approximate acreages for the Property as shown and described in Exhibit B attached hereto. Such uses shall be developed in accordance with the Entitlements, as such Entitlements provide on the Effective Date of this Agreement and/or as any Subsequent Entitlements provide on the date of approval thereof by County. Developer’s vested right to proceed with the development of the Property shall be subject to a subsequent approval process as specified in the Specific Plan, provided that any conditions, terms, restrictions and requirements for such subsequent approvals shall not prevent development of the Property for the uses set forth in the Entitlements, or reduce the density and intensity of development, or limit the rate or timing of development set forth in this Agreement, so long as Developer is not in default under this Agreement.
Vested Entitlements. Section 2.2 is hereby revised in its entirety to read as follows:
Vested Entitlements. Subject to the provisions and conditions of this Agreement, CITY agrees that CITY is granting and grants herewith, a fully vested entitlement and right to develop Parcel 3 in accordance with the terms and conditions of this Agreement and the Entitlements. CITY acknowledges that the Entitlements include the following land uses for Parcel 3: Light Industrial: 59.2 acres as depicted in Exhibit B. Such uses shall be developed in accordance with the Entitlements, as such Entitlements provide on the effective date of this Agreement, or as they may provide from time-to-time by amendment of the Master Plan by LANDOWNER as provided for herein. LANDOWNER’s vested right to proceed with development of Parcel 3 shall be subject to the Intensity Thresholds defined in this section below. Such vested rights are also subject to subsequent approvals as defined and as provided for in the Master Plan, provided that any conditions, terms, restrictions, and requirements for such subsequent approvals shall not prevent development of Parcel 3 for the uses and density and intensity of development or rate of timing of development set forth in this Agreement so long as the limitations set forth in the Intensity Thresholds have not been reached for Parcel 3 as described below and further provided that LANDOWNER is not in default under this Agreement. “For purposes of this Sixth Amendment and development of Parcel 3 pursuant to the Master Plan and all other entitlements that exist at the time this Agreement is executed, the CITY and LANDOWNER hereby agree that the Intensity Thresholds for uses described for Parcel 3 in the Master Plan are allocated to Parcel 3 as follows:
