Term Clause Example with 13 Variations from Business Contracts
This page contains Term clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Term. The term of employment under this Agreement shall be for a period beginning on August 8, 2018 (the "Effective Date"), and ending on the fifth anniversary thereof, unless sooner terminated as hereinafter set forth; provided that, on such fifth anniversary of the Effective Date and on each annual anniversary thereafter (such date and each annual anniversary thereof, a "Renewal Date"), the Agreement shall be deemed to be automatically extended upon the same terms and conditions (except for such ter...ms and conditions that expire prior to any extension period), for successive periods of one year, unless the Company or the Executive provides written notice of its intention not to extend the term of the Agreement at least 90 days prior to the applicable Renewal Date. The period during which the Executive is employed by the Company hereunder is hereinafter referred to as the "Employment Period." 1 3. Position and Duties. During the Employment Period, the Executive shall serve as the President and Chief Executive Officer of the Company. In such capacity, the Executive shall report directly to the Board of Directors of the Company (the "Board"). During the Employment Period, the Executive shall have the duties, responsibilities and authority as shall be consistent with the Executive's position and such other duties, responsibilities and authority as may be assigned to the Executive from time to time by the Board. For the avoidance of doubt, the Executive's duties hereunder may include, without limitation, performing work for, and participating in activities related to, Enfission, LLC ("Enfission"). During the Employment Period, the Executive shall devote substantially all of the Executive's business efforts to the performance of the Executive's duties hereunder and the advancement of the business and affairs of the Company and Enfission, provided that in no event shall this sentence prohibit the Executive from creating and managing his personal and family investments or participating in activities involving professional, charitable, educational or religious organizations, so long as such personal or family investments and other activities (i) do not interfere with the Executive's duties hereunder or violate any of the provisions of Section 8 herein, and (ii) comply with the Company's Code of Business Conduct and Ethics and other policies of the Company as in effect from time to time. The Executive may serve on the board of directors of other publicly-traded companies with the prior written approval of the Board, provided that the Executive agrees to resign such service in the event the Board reasonably determines that such service interferes with the Executive's duties hereunder. During the Employment Period, the Company shall cause the Executive to be nominated for election to the Board at each meeting of the shareholders of the Company where the election of the members of the Board is included in the purposes of such meeting, unless the Executive has otherwise notified the Company that the Executive does not intend to stand for re-election to the Board. The Executive shall not receive any additional compensation for services as a member of the Board. The Executive shall, if requested by the Board, also serve as an officer or director of any affiliate of the Company for no additional compensation.View More
Variations of a "Term" Clause from Business Contracts
Term. The term Executive's employment shall continue until terminated pursuant to Section 5 of employment under this Agreement shall be for a period beginning on August 8, 2018 (the "Effective Date"), and ending on the fifth anniversary thereof, unless sooner terminated as hereinafter set forth; provided that, on such fifth anniversary of the Effective Date and on each annual anniversary thereafter (such date and each annual anniversary thereof, a "Renewal Date"), the Agreement shall be deemed to be a...utomatically extended upon the same terms and conditions (except for such terms and conditions that expire prior to any extension period), for successive periods of one year, unless the Company or the Executive provides written notice of its intention not to extend the term of the Agreement at least 90 days prior to the applicable Renewal Date. Agreement. The period during which the Executive is employed by the Company hereunder is hereinafter referred to as the "Employment Period." 1 3. Term." 2. Position and Duties. 2.1 Position. During the Employment Period, Term, the Executive shall continue to serve as the President and Chief Executive Officer of the Company. In such capacity, the Executive shall report directly Company, reporting to the Board of Directors of the Company (the "Board"). During the Employment Period, In such position, the Executive shall have the such duties, responsibilities authority and authority responsibility as shall be consistent with the Executive's position and such other duties, responsibilities and authority as may be assigned to the Executive determined from time to time by the Board. For the avoidance of doubt, the Executive's duties hereunder may include, without limitation, performing work for, Board, which duties, authority and participating in activities related to, Enfission, LLC ("Enfission"). During the Employment Period, the Executive shall devote substantially all of the Executive's business efforts to the performance of the Executive's duties hereunder and the advancement of the business and affairs of the Company and Enfission, provided that in no event shall this sentence prohibit the Executive from creating and managing his personal and family investments or participating in activities involving professional, charitable, educational or religious organizations, so long as such personal or family investments and other activities (i) do not interfere responsibility are consistent with the Executive's duties hereunder or violate any of the provisions of Section 8 herein, and (ii) comply with the Company's Code of Business Conduct and Ethics and other policies of the Company as in effect from time to time. position. The Executive may shall also continue to serve on the board Board through the remainder of directors of other publicly-traded companies with the prior written approval his existing director term; provided, however, that following an initial public offering of the Board, provided that Company's shares, during the Executive Employment Term, the Company agrees to resign such service in the event the Board reasonably determines that such service interferes with the Executive's duties hereunder. During the Employment Period, the Company shall cause the Executive propose to be nominated for election to the Board at each meeting of the shareholders of the Company where at each applicable annual meeting the Executive's election of the members of the Board is included in the purposes of such meeting, unless the Executive has otherwise notified the Company that the Executive does not intend to stand for re-election to the Board. The Executive shall not receive any additional compensation for services as a member of the Board. Board for so long as the Executive remains President and Chief Executive Officer of the Company. The Executive shall, if requested by will resign from the Board, also serve Board effectively immediately upon termination of his employment for any reason. The Company may appoint the Executive as an officer or director of any affiliate of the Company Company, and the Executive will undertake any such roles for no additional compensation. 2.2 Duties. During the Employment Term, the Executive shall devote all of his business time and attention to the performance of the Executive's duties hereunder, and will not engage in any other business, profession or occupation, for compensation or otherwise, which would conflict or interfere with the performance of such services either directly or indirectly without the prior written consent of the Board. Notwithstanding the foregoing, the Executive will be permitted to (a) with the prior written consent of the Board (which consent can be withheld by the Board in its discretion), act or serve as a director, trustee, committee member or principal of any type of business, civic or charitable organization, and (b) purchase or own less than two percent (2%) of the publicly traded securities of any corporation; provided that, such ownership represents a passive investment and that the Executive is not a controlling person of, or a member of a group that controls, such corporation; provided further that, the activities described in clauses (a) and (b) do not unreasonably interfere with the performance of the Executive's duties and responsibilities to the Company as provided hereunder, including, but not limited to, the obligations set forth in Section 7 hereof. 1 Execution Version 3. Place of Performance. The principal place of Executive's employment shall be the Company's principal executive office; provided, however, the Executive may be required to travel on Company business during the Employment Term. View More
Term. The term of Executive's employment under this Agreement hereunder shall be for a period beginning on August 8, 2018 (the "Effective Date"), effective as of the Effective Date and ending on shall continue until the fifth third anniversary thereof, unless sooner terminated as hereinafter set forth; earlier pursuant to Section 5 of this Agreement; provided that, on such fifth third anniversary of the Effective Date and on each annual anniversary thereafter (such date and each annual anniversary the...reof, a "Renewal Date"), the Agreement shall be deemed to be automatically extended extended, upon the same terms and conditions (except for such terms and conditions that expire prior to any extension period), conditions, for successive periods of one year, unless the Company or the Executive either party provides written notice of its intention not to extend the term of the Agreement at least 90 days days' prior to the applicable Renewal Date. The period during which the Executive is employed by the Company hereunder is hereinafter referred to as the "Employment Period." 1 3. Term". 2. Position and Duties. 2.1 Position. During the Employment Period, Term, the Executive shall serve as the President and Chief Financial Officer of the Company, reporting to the Chief Executive Officer of the Company. Company (the "Supervisor"). In such capacity, position, the Executive shall report directly have such duties, authority and responsibility as shall be determined from time to time by Supervisor of the Company, which duties, authority and responsibility are consistent with the Executive's position. The Company will seek to have the formal appointment of Executive to the Board of Directors (the "Board") within ninety (90) days of the execution of this Agreement. The Company (the "Board"). shall take all proper and legal actions to have Executive elected and remain a member of the Board during the Employment Term, subject to state and federal law and the bylaws of the Company, during the Employment Term, as long as Executive beneficially owns at least 3% of the common stock of the Company. At any time that the Executive elects not to serve on the Board, then the Executive's right to a full voting seat on the Board will no longer exist and instead will be subject to the determination of the Board. 1 2.2 Duties. During the Employment Period, the Executive shall have the duties, responsibilities and authority as shall be consistent with the Executive's position and such other duties, responsibilities and authority as may be assigned to the Executive from time to time by the Board. For the avoidance of doubt, the Executive's duties hereunder may include, without limitation, performing work for, and participating in activities related to, Enfission, LLC ("Enfission"). During the Employment Period, Term, the Executive shall devote substantially all of the Executive's his business efforts time and attention to the performance of the Executive's duties hereunder and will not engage in any other business, profession or occupation for compensation or otherwise which would conflict or interfere with the advancement performance of such services either directly or indirectly without the prior written consent of the business Board, provided however, the Executive shall be permitted to engage in the outside activities listed on Schedule A attached hereto. Notwithstanding the foregoing and affairs the outside activities listed on Schedule A attached hereto, the Executive will be permitted to (a) with the prior written consent of the Company and Enfission, provided that Board (which consent can be withheld by the Board in no event shall this sentence prohibit the Executive from creating and managing his personal and family investments its discretion) act or participating in activities involving professional, charitable, educational serve as a director, trustee, committee member or religious organizations, so principal of any type of business, civic or charitable organization as long as such personal activities are disclosed in writing to the Executive's Supervisor, and (b) purchase or family investments own less than five percent (5%) of the publicly traded securities of any corporation; provided that, such ownership represents a passive investment and other that the Executive is not a controlling person of, or a member of a group that controls, such corporation; provided further that, the activities (i) described in clauses (a) and (b) do not interfere with the performance of the Executive's duties hereunder or violate any of the provisions of Section 8 herein, and (ii) comply with the Company's Code of Business Conduct and Ethics and other policies of responsibilities to the Company as provided hereunder, including, but not limited to, the obligations set forth in effect from time to time. The Executive may serve on the board of directors of other publicly-traded companies with the prior written approval of the Board, provided that the Executive agrees to resign such service in the event the Board reasonably determines that such service interferes with the Executive's duties hereunder. During the Employment Period, the Company shall cause the Executive to be nominated for election to the Board at each meeting of the shareholders of the Company where the election of the members of the Board is included in the purposes of such meeting, unless the Executive has otherwise notified the Company that the Executive does not intend to stand for re-election to the Board. The Executive shall not receive any additional compensation for services as a member of the Board. The Executive shall, if requested by the Board, also serve as an officer or director of any affiliate of the Company for no additional compensation. Section 2 hereof. View More
Term. The Company agrees to employ the Executive pursuant to the terms of this Agreement, and the Executive agrees to be so employed, for a term of employment under this Agreement shall be for a period beginning on August 8, 2018 three (3) years (the "Effective Date"), and ending on "Initial Term") commencing as of the fifth anniversary thereof, unless sooner terminated as hereinafter set forth; provided that, on such fifth Effective Date. On each anniversary of the Effective Date and on each annual a...nniversary thereafter (such date and each annual anniversary thereof, a "Renewal Date"), following the Initial Term, the term of this Agreement shall be deemed to be automatically extended upon for successive one-year periods, provided, however, that either party hereto may elect not to extend this Agreement by giving written notice to the same terms other party at least one hundred and conditions (except for such terms and conditions that expire eighty (180) days prior to any extension period), for successive periods such anniversary date. Notwithstanding the foregoing, the Executive's employment hereunder may be earlier terminated in accordance with Section 9 hereof, subject to Section 10 hereof. Terms used herein with initial capitalization not otherwise defined are defined in Section 25. The period of one year, unless time between the Company or Effective Date and the Executive provides written notice of its intention not to extend the term termination of the Agreement at least 90 days prior to the applicable Renewal Date. The period during which the Executive is employed by the Company Executive's employment hereunder is hereinafter shall be referred to as the "Employment Period." 1 3. 2. Position and Duties. During the Employment Period, the Executive shall serve as the President and Chief Executive Officer of the Company. In such capacity, the Executive Company, shall report directly to the Company's Board of Directors (the "Board") and shall serve as a member of the Company (the "Board"). During the Employment Period, Board. In his capacity as President and Chief Executive Officer, the Executive shall have the duties, responsibilities and authority as shall be consistent authorities customarily associated with the Executive's position of President and such other duties, responsibilities Chief Executive Officer in a company the size and authority as may be assigned to nature of the Executive from time to time by the Board. For the avoidance of doubt, the Executive's duties hereunder may include, without limitation, performing work for, and participating in activities related to, Enfission, LLC ("Enfission"). During the Employment Period, the Company. The Executive shall devote the Executive's reasonable best efforts and substantially all of the Executive's business efforts time to the performance of the Executive's duties hereunder and the advancement of the business and affairs of the Company and Enfission, provided that shall be subject to, and shall comply in no event shall this sentence prohibit all material respects with, the Executive from creating and managing his personal and family investments or participating in activities involving professional, charitable, educational or religious organizations, so long as such personal or family investments and other activities (i) do not interfere with the Executive's duties hereunder or violate any of the provisions of Section 8 herein, and (ii) comply with the Company's Code of Business Conduct and Ethics and other policies of the Company applicable to the Executive; provided that the Executive shall be entitled (i) to serve as in effect from time to time. The Executive may serve on a member of the board of directors of a reasonable number of other publicly-traded companies with companies, subject to the prior written advance approval of the Board, provided that which approval shall not be unreasonably withheld, (ii) to serve on civic, charitable, educational, religious, public interest or public service boards, and (iii) to manage the Executive agrees Executive's personal and family investments, in each case, to resign the extent such service in the event activities do not materially interfere, as determined by the Board reasonably determines that such service interferes in good faith, with the performance of the Executive's duties and responsibilities hereunder. During the Employment Period, the Company shall cause the Executive to be nominated for election to the Board at each meeting of the shareholders of the Company where the election of the members of the Board is included in the purposes of such meeting, unless the Executive has otherwise notified the Company that the Executive does not intend to stand for re-election to the Board. The Executive shall not receive any additional compensation for services as a member of the Board. The Executive shall, if requested by the Board, also serve as an officer or director of any affiliate of the Company for no additional compensation.View More
