Agreement Renegotiation. The parties agree that the Agreement shall be subject to renegotiation on the three-month anniversary of the Agreement's Effective Date, based upon the good faith intention of the parties, subject to the financial condition of the Company at the time, to replace the Agreement with an Executive Employment Agreement, which would provide the Executive with: (a) a monthly base salary, reflecting an increase in the monthly Fee then in effect, (b) employee-related executive benefits, including health and medical insurance, life and travel insurance, and an automobile lease allowance and reimbursement of related maintenance and operating expenses, and (c) a grant of stock options, as of the effective date of the Executive Employment Agreement. Should the Agreement not be replaced with an Executive Employment Agreement on the above noted three-month anniversary date, due to financial constraints of the Company, the parties agree to continue, in good faith, to attempt to renegotiate the Agreement on a monthly basis thereafter.
Agreement Renegotiation. In the event of an M&A Transaction (as defined in Section 4.(b).(iii).(5) of this Agreement) or initial public offering (“IPO”) on a major US or International stock exchange with the Employer having a Market Capitalization of over $250 million, the Employee shall be entitled to renegotiate terms of this Agreement.
Agreement Renegotiation. The parties agree to commence renegotiation of this Agreement for a successor to this Agreement three months prior to its expiry.
Agreement Renegotiation. This Section of the Agreement shall be replaced in its entirety with the following revised Section 12:
Agreement Renegotiation. Three months before the expiry date of this agreement the parties will commence discussions aimed at renegotiating a new agreement. Until such time as a new Agreement commences which has been approved by FWC, the terms and conditions of this Agreement will continue to apply.
Agreement Renegotiation. If within 120 days after the Effective Date it is determined on the basis of information that was neither provided by a Vendor to the Purchaser nor otherwise known to the Purchaser before the Effective Date that, by agreement between an Operator and a Vendor, the rates shown under the heading “Royalty” in the Royalties Summary for any of the Royalties except those identified as Avebury & Xxxxx Flats, Las Cruces, Xxxx Creek and High Lake were amended or any of the Royalties except those identified as Avebury & Xxxxx Flats, Las Cruces, Xxxx Creek and High Lake were extinguished, then the Vendors will at the request of the Purchaser meet in good faith to discuss transactions which might provide the Purchaser with at least partial off-setting benefits, the Parties acknowledging however there shall be no obligation to refund any portion of the Purchase Price.
