Section 5(7) definition
Examples of Section 5(7) in a sentence
Section 5.7 - Compensation for Extra-Duty Assignments: Whenever employees are assigned duties to be performed outside of the regular school day, they shall be compensated in accordance with the extra-duty salary schedule as set forth in Appendix C.
This Agreement may be terminated by the Company for any reason and at any time; provided that if this Agreement is terminated by the Company for reasons other than death, Disability or Cause and other than as provided by Section 5.7 , then the Company shall pay to the Employee, in equal monthly installments (or as a lump sum based upon the present value of the future payments using the Company’s incremental borrowing rate), the Base Salary for one (1) year following such termination.
If this Agreement is terminated by the Company for reasons other than death, Disability or Cause and other than as provided by Section 5.7 , then all of the stock options, rights or awards issued or granted to Employee pursuant to any incentive or stock option plan of the Company shall automatically and immediately vest and become exercisable in full.
Without limiting the foregoing, Licensee shall have the right to be present at any such audit conducted by Mirati pursuant to this Section 5.7 [***].
Subject to Section 5.5 and Section 5.7, ---------- this Agreement shall be amended only by the written consent of the Sole Member and the Manager.
For this purpose, the Executive’s employment is deemed to cease on the Termination Date (as defined in Section 5.7) .
If Sanofi materially breaches its obligation set forth in this Section 5.7, [***].
The provisions of the immediately preceding sentence shall be deemed to have been satisfied if prepaid policies have been obtained prior to the Effective Time for purposes of this Section 5.7 , which policies provide such directors and officers with coverage for an aggregate period of 6 years with respect to claims arising from facts or events that occurred on or before the Effective Time, including, without limitation, in respect of the transactions contemplated by this Agreement.
The obligations under this Section 5.7 shall not be terminated or modified in such a manner as to adversely affect any indemnitee to whom this Section 5.7 applies without the consent of such affected indemnitee (it being expressly agreed that the indemnitees to whom this Section 5.7 applies shall be third party beneficiaries of this Section 5.7 ).
This Agreement is expressly not intended for the benefit of any creditor of the Company or any other Person (other than any Person with a right to indemnification under Section 5.7 ----------- hereof).