January 2007. Tenant’s Proportionate Share. Tenant’s Proportionate Share of the Building is 66.95%, which is calculated by dividing the approximately 32,429 square feet of the Premises by the approximately 48,435 rentable square feet of the Building. If the Building is expanded all formula shall be adjusted pro rata to take such expansion into consideration.
January 2007. In view of the need to carry out further due diligence in respect of the Property and the Relevant Shares so as to decide whether to exercise the Option, at the request of the Purchaser, on 22 January 2007, the Company, the Grantor and the Vendor entered into a supplemental agreement (the “Supplemental Agreement”) with the Purchaser to provide for, inter alia, the extension of the period under which the Purchaser can exercise the Option and also the making certain provisions to supplement the terms and conditions of the Provisional Agreement. With effect from the date of the Supplemental Agreement, the parties agree to make the following changes to the Provisional Agreement: The Formal Agreement, the Option Notice and the Share Agreement The Formal Agreement shall be signed by the Purchaser and the Vendor within five (5) business days upon receipt of written notice by the Purchaser of the fulfillment of the condition precedent of the Provisional Agreement. Pending the signing of the Formal Agreement or the parties to the Provisional Agreement failing to enter into the Formal Agreement, the parties to the Provisional Agreement agree that the Provisional Agreement shall continue to be binding and have full legal effects. Possession and rents will be retained and all outgoings discharged by the Vendor up to but exclusive of the actual day of completion and as from and inclusive of that day possession and rents will belong to and all outgoings discharged by the Purchaser. All current outgoings and rents shall (if necessary) be apportioned between the Vendor and the Purchaser on completion. In consideration of the Purchaser entering into the Provisional Agreement with the Vendor, the Grantor, the beneficial owner owning the entire issued share capital of the Vendor, hereby agrees to grant an option (the “Option”) to the Purchaser or its nominee to purchase the entire issued share capital (together with the shareholders’ loan(s), if any) of the Vendor (collectively, the “Relevant Shares”) at the Consideration with the same payment terms as those for sale of the Property. The Option shall be exercisable only once by the Purchaser by delivery to the Grantor of a written notice to such effect (“Option Notice”) within two (2) business days from the receipt of the written notice from the Vendor confirming that the condition precedent has been satisfied. Upon serving on the Grantor the Option Notice, the parties shall enter into the agreement for sale and purchase of ...
January 2007. Employees below the maximum step shall be eligible to move to the next step effective the beginning of the first full pay period in January 2007, provided they have been employed continuously by the Commonwealth since January 31, 2006. Employees who were scheduled to skip Steps B and/or D under the prior agreement (August 5, 2002 – June 30, 2003) will continue to skip Steps B and/or D under this Agreement). Full-time employees who have been at Step I since July 31, 2006 and who have been employed continuously by the Commonwealth since January 31, 2006 shall receive the annual amount of a 2.25% increase in the form of a one-time cash payment rounded to the nearest dollar ($763 for Liquor Store Clerk 1 and Liquor Stock Clerk; $841 for Liquor Store Clerk 2). Intermittent Liquor Store Clerks who have been at the maximum step since July 31, 2006 and who have been employed continuously by the Commonwealth since January 31, 2006 and Liquor Store Sales Cashiers shall receive a pro rata share of the one-time cash payment of 2.25% based on the number of hours worked in the prior fiscal year. Effective January 1, 2007, Step I of the Liquor Store Clerk 1, Liquor Stock Clerk and Intermittent Liquor Store Clerk pay schedule and the Liquor Store Clerk 2 pay schedule shall be increased by three and one-half percent (3.5%) as shown in Sections A.1. and 2.
