For Xx. Xxxxxx: For purposes of this Agreement, “Disability” shall have the meaning set forth in an Individual Agreement to which the Holder is a party that is then in effect.]
For Xx. Xxxxx' services under this Agreement as Executive Vice President and Chief Financial Officer, Xx. Xxxxx will be paid by the Company an initial base salary of $275,000.00 per year ("Base Salary"), to be paid semi-monthly at the rate of $11,458.34 less normally applicable payroll deductions.
For Xx. Xxxxxxxx, with the intent to keep Xx. Xxxxxxxx’x research team and projects intact; provided, however, if the Parties fail to agree on a mutually acceptable successor within a reasonable period of time, Exact may, upon written notice to MAYO, terminate the Parties’ obligations under this Section 2.06(b) as well as EXACT’s payment obligations under Section 3.05 (for the avoidance of doubt, any such terminations shall not have the effect of terminating EXACT’s other rights under this Restated Agreement, including without limitation its license rights).
For Xx. Xxxx only the costs for the patent application are to be subsidized.
For Xx. Xxxxx, this includes 7,447 shares of restricted stock held by the Director pursuant to grants made to him on October 10, 2017 under the 2009 Incentive Plan. Under the terms of the grants, all the shares are scheduled to vest in one tranche on October 10, 2018. Xx. Xxxxx has voting rights with respect to these unvested shares, and may be deemed to have investment power over the shares.
For Xx. Xxxxxxxxx good cause exists for the termination without notice of this Frame Agreement and/or the individual contracts for the delivery of Contract Products concluded under this Frame Agreement in particular, - if the Supplier is persistently or repeatedly in delay of delivery - if the Supplier despite objection of Xx. Xxxxxxxxx repeatedly or persistently delivers the Contract Products without complying with the contract or the specifications; - if a material change of the owner structure or the management of the Supplier occurs; - if a customer of Xx. Xxxxxxxxx, or its own customer to whom the products of Xx. Xxxxxxxxx containing Contract Products are delivered, makes termination of or does not extend the delivery relationship with Xx. Xxxxxxxxx or the customer of Xx. Xxxxxxxxx; or - if the Supplier commits a significant violation of material contractual obligations, in particular the duty of confidentiality.
For Xx. Xxxxx only, the Board shall recognize the additional credit hours she earned for graduate level coursework that exceed the minimum number of credits necessary for her to obtain her first Master’s degree, even if she completed those credit hours before obtaining her first Master’s degree.
