Examples of Renewal Effective Date in a sentence
If any payment or benefit Employee would receive pursuant to this Agreement or otherwise on or after the date that is one year following the Renewal Effective Date, including accelerated vesting of any equity compensation (“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the Excise Tax, then such Payment shall be reduced to the Reduced Amount.
Effective as of the Renewal Effective Date (as defined in section 2 below) and during the Term, (i) HH shall cause Employee to be appointed to serve as a director of the Board of Directors of HA and (ii) the Board of Directors of HH shall nominate Employee for election to HH’s Board of Directors and HH shall use its good faith efforts to elect Employee to such position.
Commencing on the Renewal Effective Date, and continuing through the Termination Date, the Fixed Monthly Rent payable by Tenant for the Existing Premises shall be $[***] per month.
Accordingly, effective as of the Renewal Effective Date, Section II (Extension Option) of Exhibit D to the Original Lease is hereby deleted in its entirety from the Lease, and such Section II shall be of no further force or effect.
Accordingly, effective as of the Renewal Effective Date, Section I (Extension Option) and Section II (Right of First Refusal) of Exhibit D to the Original Lease are each hereby deleted in their entirety from the Lease, and such Section I and such Section II shall be of no further force or effect.
The Lease Term is hereby retroactively amended and extended for a period of one hundred twenty-four (124) months beginning on September 1, 2021 (the "Renewal Effective Date") such that it expires on December 31, 2031 (the "Expiration Date"), on the terms and conditions of the Lease, as modified hereby.
On the Renewal Effective Date, Employee shall receive a grant of 238,901 shares of restricted stock (the “Type B Restricted Stock”).
In the event Distributor does not achieve Performance Goals for any year subsequent to the Renewal Effective Date, the Agreement shall expire at the end of its then current Term, unless Primus elects at its sole discretion to extend the Term.
The Renewal Effective Date will be substituted for the Effective Date in the preceding sentence and the same methodology will be used to assess Distributor's achievement of Performance Goals for subsequent years and further extension(s) of the Term.
Except as specifically provided in Section 3(c), this Agreement terminates and supersedes any and all prior agreements and understandings between the parties with respect to employment or with respect to the compensation of the Employee by the Company from and after the Renewal Effective Date, including the Prior Agreement.