Grouped Into 443 Collections of Similar Clauses From Business Contracts
This page contains Term clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Term. The term of Executive's employment under this Agreement shall commence on the date hereof and shall continue until terminated by either party in accordance with Section 6 hereof (the "Employment Term").
Term. The term of Executive's employment under this Agreement shall commence on at a date mutually agreed upon by the date hereof parties and shall continue until terminated by either party in accordance with Section 6 hereof (the "Employment Term").
Term. The term of the Agreement shall begin on the Effective Date and run through the earlier of (i) such date that Chairman is not re-elected to the Board, and (ii) April 1, 2013 (the "Term") provided, however, that the Board agrees to use its best efforts to cause Chairman to be re-elected to the Board in 2013 provided the Agreement has been renewed for an additional term, unless Chairman has engaged in activity that would have constituted dismissal for Cause as that term is defined in the Employmen...t Agreement.View More
Term. The term of the Agreement shall begin on the Effective Date and run through the earlier of (i) such date that Chairman is not re-elected to the Board, and (ii) April 1, 2013 2011 (the "Term") "Term"); provided, however, that the Board agrees to use its best efforts to cause Chairman to be re-elected to the Board in 2013 provided the Agreement has been renewed for an additional term, 2010 unless Chairman has engaged in activity that would have constituted dismissal for Cause as that term is defin...ed in the Employment Agreement. View More
Term. This Agreement is effective as of the Effective Date, and will continue through the first anniversary of the Effective Date, unless terminated or extended as hereinafter provided. This Agreement shall be extended for successive one-year periods following the original term (through each subsequent anniversary thereafter) unless any party notifies the other in writing at least 30 days prior to the end of the original term, or the end of any additional one-year renewal term, that the Agreement shal...l not be extended beyond its then current term. The term of this Agreement, including any renewal term, is referred to herein as the "Term." 3. Compensation. (a) Base Salary. The Company shall pay the Executive an annual base salary of $325,000. The annual base salary shall be paid to the Executive in accordance with the established payroll practices of the Company (but no less frequently than monthly) subject to ordinary and lawful deductions. The Compensation Committee of the Company will review the Executive's base salary from time to time to consider whether any increase should be made. The base salary during the Term will not be less than that in effect at any time during the Term. (b) Annual Bonus. During the Term, the Executive will be eligible to participate in an annual incentive bonus plan that will establish measurable criteria and incentive compensation levels payable to the Executive for performance in relation to defined targets established by the Compensation Committee of the Company's Board of Directors, after consultation with management, and consistent with the Company's business plans and objectives. To the extent the targeted performance levels are exceeded, the incentive bonus plan will provide a means by which the annual bonus will be increased. Similarly, the incentive plan will provide a means by which the annual bonus will be decreased or eliminated if the targeted performance levels are not achieved. In connection with such annual incentive bonus plan, subject to the corresponding performance levels being achieved, the Executive shall be eligible for an annual target bonus equal to 50 percent of the Executive's annual base salary and an annual maximum bonus equal to 100 percent of the Executive's annual base salary. Any bonus payments due hereunder shall be payable to the Executive no later than the 15th day of the third month following the end of the applicable year to which the incentive bonus relates. (c) Stock Compensation. The Executive also shall be eligible to receive stock options, restricted stock, stock appreciation rights and/or other equity awards under the Company's applicable equity plans on such basis as the Compensation Committee or the Board of Directors of the Company or their designees, as the case may be, may determine on a basis not less favorable than that provided to the class of employees that includes the Executive. Except as specifically set forth above, however, nothing herein shall require the Company to make any equity grants or other awards to the Executive in any specific year.View More
Term. This Agreement is effective as of the Effective Date, and will continue through the first anniversary of the Effective Date, unless terminated or extended as hereinafter provided. This Agreement shall be extended for successive one-year periods following the original term (through each subsequent anniversary thereafter) unless any party notifies the other in writing at least 30 days prior to the end of the original term, or the end of any additional one-year renewal term, that the Agreement shal...l not be extended beyond its then current term. The term of this Agreement, including any renewal term, is referred to herein as the "Term." 3. Compensation. (a) Base Salary. The Company shall pay the Executive an annual base salary of $325,000. $300,000.00. The annual base salary shall be paid to the Executive in accordance with the established payroll practices of the Company (but no less frequently than monthly) subject to ordinary and lawful deductions. The Compensation Committee of the Company will review the Executive's base salary from time to time to consider whether any increase should be made. The base salary during the Term will not be less than that in effect at any time during the Term. (b) Annual Bonus. During the Term, the Executive will be eligible to participate in an annual incentive bonus plan that will establish measurable criteria and incentive compensation levels payable to the Executive for performance in relation to defined targets established by the Compensation Committee of the Company's Board of Directors, Company, after consultation with management, and consistent with the Company's business plans and objectives. To the extent the targeted performance levels are exceeded, the incentive bonus plan will provide a means by which the annual bonus will be increased. Similarly, the incentive plan will provide a means by which the annual bonus will be decreased or eliminated if the targeted performance levels are not achieved. In connection with such annual incentive bonus plan, subject to the corresponding performance levels being achieved, the Executive shall be eligible for an annual target bonus equal to 50 percent of the Executive's annual base salary and an annual maximum bonus equal to 100 percent of the Executive's annual base salary. Any bonus payments due hereunder shall be payable to the Executive no later than the 15th day of the third month following the end of the applicable year to which the incentive bonus relates. (c) Stock Compensation. The Company shall grant to the Executive, effective as of the Effective Date, as an initial equity award, nonqualified stock options covering 90,000 shares of the common stock, no par value per share, of the Company (the "Initial Options") and restricted stock covering 50,000 shares of such common stock (the "Initial Restricted Stock"). The Initial Options and Initial Restricted Stock will vest and become nonforfeitable as follows: (i) The Initial Options will be time-vested options, have a term of six years and will vest and become exercisable with respect to (i) the first one-third of the Initial Options (rounded down to the nearest whole number of Shares) on the first anniversary of the date of grant with an exercise price equal to the fair market value of the common stock as of the date of grant, (ii) the second one-third of the Initial Options (rounded down to the nearest whole number of Shares) on the second anniversary of the date of grant with an exercise price equal to 110 percent of the fair market value of the common stock on the date of grant and (iii) the remainder of the Initial Options on the third anniversary of the date of grant with an exercise price equal to 120 percent of the fair market value of the common stock as of the date of grant, subject to the Executive's continued employment through such date(s). (ii) The Initial Restricted Stock will be time-vested restricted stock and will vest and become nonforfeitable with respect to one-third of the Initial Restricted Stock (rounded down to the nearest whole share) on each of the first and second anniversaries of the date of grant and with respect to the remaining Initial Restricted Stock on the third anniversary of the date of grant, subject to the Executive's continued employment through such date(s). 2 Beginning in 2015, the Executive also shall be eligible to receive stock options, restricted stock, stock appreciation rights and/or other equity awards under the Company's applicable equity plans on such basis as the Compensation Committee or the Board of Directors of the Company or their designees, as the case may be, may determine on a basis not less favorable than that provided to the class of employees that includes the Executive. Except as specifically set forth above, however, nothing herein shall require the Company to make any equity grants or other awards to the Executive in any specific year. View More
Term. The initial term of this Agreement shall be three (3) years from May 13th, 2009, the effective date of the Original Employment Agreement (the "Effective Date"), unless sooner terminated as herein provided. On the first anniversary date of the Effective Date, and on each anniversary date thereafter, the term of this Agreement shall automatically be extended for an additional one (1) period unless written notice of non-renewal has been given by any party hereto no less than ninety (90) days prior ...to any such anniversary date, in which event this Agreement shall terminate on the second anniversary date of the anniversary date as to which the notice of non-renewal was given, unless sooner terminated as herein provided.View More
Term. The initial term of this Agreement shall be three (3) years from May 13th, 2009, September 5, 2012, the effective date of the Original Employment Agreement (the "Effective Date"), unless sooner terminated as herein provided. On the first anniversary date of the Effective Date, and on each anniversary date thereafter, the term of this Agreement shall automatically be extended for an additional one (1) period unless written notice of non-renewal has been given by any party hereto no less than nine...ty (90) days prior to any such anniversary date, in which event this Agreement shall terminate on the second anniversary date of the anniversary date as to which the notice of non-renewal was given, unless sooner terminated as herein provided. View More
Term. The term ("Term") of this Board of Directors Agreement (the Agreement") shall commence on December 5, 2012 (the "Effective Date") and be in full force and effect until terminated according to Paragraph 8.
Term. The term ("Term") of this Board of Directors Agreement (the Agreement") shall commence on December 5, 2012 (the August 2013(the "Effective Date") and be in full force and effect until terminated according to Paragraph 8.
Term. The purchase right represented by this Warrant is exercisable, in whole or in part, at any time and from time to time from the Date of Grant through seven (7) years after the Date of Grant (the "Term"). Notwithstanding the foregoing, the holder hereof agrees that prior to the earliest to occur of (a) the closing of an Acquisition Transaction (as defined below), (b) the Company's satisfaction of the conditions precedent to the making of Loan C (as defined in that certain Venture Loan and Security... Agreement dated as of September __, 2014 by and among the Company, the holder and Fortress Credit Co LLC (the "Loan Agreement")) as set forth in Section 3.3 of the Loan Agreement or (c) Loan C is made to or on behalf of the Company, this Warrant shall not be exercisable, and the holder hereof shall not exercise this Warrant, for more than 16,556 of the original number of Shares issuable upon exercise of this Warrant.View More
Term. The purchase right represented by this Warrant is exercisable, in whole or in part, at any time and from time to time from the Date of Grant through seven (7) years after the Date of Grant (the "Term"). Notwithstanding the foregoing, the holder hereof agrees that prior to the earliest to occur of (a) the closing of an Acquisition Transaction (as defined below), (b) the Company's satisfaction of the conditions precedent to the making of Loan C D (as defined in that certain Venture Loan and Securi...ty Agreement dated as of September __, 2014 by and among the Company, the holder and Fortress Credit Co LLC and Horizon Technology Finance Corporation (the "Loan Agreement")) as set forth in Section 3.3 of the Loan Agreement or (c) Loan C D is made to or on behalf of the Company, this Warrant shall not be exercisable, and the holder hereof shall not exercise this Warrant, for more than 16,556 24,834 of the original number of Shares issuable upon exercise of this Warrant. View More
Term. This Agreement and the Executive's employment are for an indefinite term. Therefore, the Executive is employed on an at-will basis and either the Executive or the Corporation may terminate his employment at any time and for any reason, with or without "cause" including, without limitation, as defined in paragraph 6.c. ; provided, however, other than in the case of termination by the Corporation for "cause" as defined in paragraph 6.c. or due to the Executive's death or disability as set forth in... paragraphs 6.a. or 6.b., both the Corporation and the Executive shall give the other 30 days' prior written notice of termination. Notwithstanding the foregoing, the Corporation may, at its option, provide a cash payment up to 30 days' Base Salary in lieu of such 30 days' notice or any portion thereof.View More
Term. This Agreement and the Executive's employment are for an indefinite term. Therefore, a term of three (3) years from the Effective Date (the "Initial Term"), which will automatically renew in successive terms of one (1) year each (each a "Successive Term") unless the Corporation gives the Executive is employed on an at-will basis notice of nonrenewal ("Notice of Nonrenewal") more than twelve (12) months in advance of the expiration of the Initial Term or Successive Term, as the case may be (the "...Term Expiration"), in which case this Agreement and the Executive's employment shall terminate upon the Term Expiration. Subject to paragraph 6, either the Executive or the Corporation may terminate his the Executive's employment at any time and for any reason, with or without "cause" including, without limitation, as defined in paragraph 6.c. ; provided, however, other than in the case of termination by the Corporation for "cause" as defined in paragraph 6.c. or due to the Executive's death or disability as set forth in paragraphs 6.a. or 6.b., both the Corporation and the Executive shall give the other 30 days' prior written notice of termination. Notwithstanding the foregoing, the Corporation may, at its option, provide a cash payment up to 30 days' Base Salary in lieu of such 30 days' notice or any portion thereof. View More
Term. The employment of the Executive by the Company as provided in Section 1 hereof shall be deemed to have commenced prior to the date hereof. Unless sooner terminated as hereinafter set forth, the term of this Agreement shall end on March 31, 2017; provided, however, that this Agreement will automatically renew for additional one (1)-year periods (each a "Renewal Term") on each anniversary thereafter unless the Company and Parent deliver to the Executive written notice of intent not to renew at lea...st thirty (30) days prior to the expiration of the term or any Renewal Term. If this Agreement is renewed for one (1) or more Renewal Terms, such Renewal Term shall be on the basis stated herein. For the avoidance of doubt, the parties hereby acknowledge and agree that the Executive's employment will not automatically terminate or end solely as a result of the expiration of the Agreement at the end of the term or any Renewal Term.View More
Term. The employment of the Executive by the Company as provided in Section 1 hereof shall be deemed to have commenced prior to the date hereof. Unless sooner terminated as hereinafter set forth, the term of this Agreement shall commence on the Effective Date and shall end on March 31, 2017; 2023; provided, however, that this Agreement will automatically renew for additional one (1)-year periods (each a "Renewal Term") on each anniversary thereafter unless the Company and Parent deliver delivers to th...e Executive written notice of intent not to renew at least thirty (30) days prior to the expiration of the term or any Renewal Term. If this Agreement is renewed for one (1) or more Renewal Terms, such Renewal Term shall be on the basis stated herein. For the avoidance of doubt, and subject to the Good Reason provisions contained herein, the parties hereby acknowledge and agree that the Executive's employment will not automatically terminate or end solely as a result of the expiration of the Agreement at the end of the term or any Renewal Term. View More
Term. The Company hereby employs the Executive, and the Executive hereby accepts such employment under this Agreement, for the period commencing on the Effective Date and ending on March 31, 2015 or such earlier date as is determined in accordance with Section 11 (the "Term").
Term. The Company hereby employs the Executive, and the Executive hereby accepts such employment under this Agreement, for the period commencing on the Effective Date and ending on March 31, 2015 2016 or such earlier date as is determined in accordance with Section 11 (the "Term").
