Retention Option Sample Clauses
Retention Option. The Asset List also sets forth an agreed upon minimum price for each of the Securities listed thereon (with respect to each Security, a "Minimum Price"). Seller shall not, and shall cause the Insurance Subsidiaries not to, from the date hereof until the Closing Date, and the Advisor shall not, from and after Closing, sell or otherwise dispose of any Security at a price below the Minimum Price for such Security, without first notifying Seller and Purchaser in writing (an "Asset Sale Notice") of such proposed disposition, including the Securities proposed to be disposed of (the "Offered Securities"), the price for such Offered Securities (the "Offer Price"), the proposed date for consummating such disposition (the "Asset Sale Closing") and other material terms and conditions of such proposed disposition, at least four hours (or, in the case of a proposed sale of any CBO Equities, two Business Days) in advance of the Asset Sale Closing. Purchaser shall have the option (the "Retention Option"), but not the obligation, to elect to prevent the consummation of such disposition by notifying Seller, GenAm and, after Closing, the Advisor in writing of such election (the "Purchaser Notice") within four hours (or, in the case of a proposed sale of any CBO Equities, two Business Days) of its receipt of such Asset Sale Notice. Any Offered Security in respect of which Purchaser has exercised its Retention Option may not be sold or otherwise disposed of at a price below the Minimum Price without again complying with this Section 2.11(d); provided, that, if Purchaser shall have exercised such Retention Option on behalf of GenAm pursuant to the GenAm Option Agreement, then such Offered Securities may be sold to GenAm in accordance therewith, in which case such Offered Securities shall be considered to be retained by the Insurance Subsidiaries and not sold for purposes hereof, unless deemed to have been sold pursuant to clause (e) or (f) below.
Retention Option. As soon as administratively practicable after the Closing, you shall be granted a stock option award under the Company’s 2021 Omnibus Incentive Plan (“Equity Plan”), subject to the approval of the board of directors of the Company (which approval the Company shall recommend), with a grant date fair value of $112,500. The Retention Option will become vested and exercisable in two equal installments on the first day of the seventh month after the Closing and the first anniversary of the Closing, provided that you remain in continuous service with the Company as its Chief Financial Officer through each such date under the Consulting Agreement between the Company and ▇▇▇▇▇▇▇▇ Advisors, LLC dated September 27, 2019, as subsequently amended (the “Consulting Agreement”). Any unvested portion of the Retention Option shall also become vested and exercisable if your service to the Company is terminated by the Company before the first anniversary of the Closing for any reason other than “Cause” (as defined in the Consulting Agreement). The Retention Option grant will be subject to the terms of the Equity Plan and the option award agreement thereunder, which will include other standard terms and conditions not inconsistent with the foregoing, and which, in all events, will govern and control the Retention Option award.
Retention Option. The Company shall grant to Executive on the Execution Date a stock option to purchase 20,000 shares of common stock of the Company (the “Retention Option”) under the Amended and Restated Xenetic Biosciences, Inc. Equity Incentive Plan, as amended from time to time (the “Plan”) at an exercise price equal to the fair market value of the Company’s common stock on the grant date (i.e., the Execution Date). The Retention Option shall vest one-fourth on the grant date, one-fourth upon the first anniversary of the Execution Date, one-fourth upon the second anniversary of the Execution Date and one-fourth upon the third anniversary of the Execution Date, provided the Executive remains employed with the Company on the applicable vesting date. The Retention Option shall be evidenced in writing by, and subject to the terms and conditions of, the Plan, and, except as otherwise set forth herein, the Company’s standard form of stock option agreement, which agreement shall expire ten (10) years from the date of grant except as otherwise provided herein, in the stock option agreement or the Plan. Executive agrees that he will not loan or pledge any securities of the Company owned by him or which he may accrue in the future through Stock Options or other equity awards as collateral for any indebtedness.”
Retention Option. 2.11 SAP..................................................................3.6 Section 363/365 Hearing..............................................5.4 Securities...........................................................2.9 Seller..........................................................
Retention Option. Tenant shall not be responsible for any payments pursuant to Section 7.1 in excess of $5,000,000 (aggregated against all Terminating Leased Properties) unless Lessor (or a potential purchaser or lessee from Lessor), for any Terminating Leased Property that would cause such payments to exceed $5,000,000, first delivers to Tenant an estimate of the Compliance Costs for such Terminating Leased Property and Tenant fails to notify (a “Retention Notice”) Lessor within 10 business days thereafter that it has elected to remove such Terminating Leased Property from the set of Terminating Leased Property. If Tenant timely delivers a Retention Notice for a Terminating Leased Property, then such Terminating Leased Property shall cease to be a Terminating Leased Property and, notwithstanding anything to the contrary herein, shall remain leased under its applicable Master Lease in accordance with the terms thereof.
Retention Option. Notwithstanding anything to the contrary contained in Section 27, Tenant shall have the option ("Retention Option") to retain the Twelfth Floor Space as part of the Premises during Months 37 through 72 of the Term, as follows:
A. To exercise the Retention Option, Tenant shall give Landlord written notice of exercise on or before the last day of Month 24 of the Term. Within fifteen (15) days thereafter, Landlord shall give written notice to Tenant of Landlord's initial estimate of the Market Rate for the Twelfth Floor Space. Tenant's notice of exercise and ▇▇▇▇▇▇▇▇'s initial estimate of the Market Rate shall be binding and conclusive unless Tenant gives Landlord written notice on or before the last day of Month 25 of the Term either (1) withdrawing Tenant's notice of exercise, or (2) confirming Tenant's notice of exercise but objecting to Landlord's initial estimate of the Market Rate. Tenant may only exercise the Retention Option as to all of the Twelfth Floor Space.
B. If Tenant exercises the Retention Option, the Twelfth Floor Space shall be retained as part of the Premises for Months 37 through 72 of the Term on all of the terms and conditions of this Lease, except that:
(1) In addition to Base Rent for the Fourteenth Floor Space, Tenant shall pay Base Rent for the Twelfth Floor Space at a rate equal to the greater of: (a) ninety percent (90%) of the Market Rate for such space (as defined and determined under Section 31 if Tenant timely objects to Landlord's initial estimate of the Market Rate), or (b) an annual rate of $8.50 per rentable square foot.
(2) Tenant's Proportionate Share of Operating Costs and Operating Cost Rent shall be adjusted appropriately based on 29,903 rentable square feet, and Operating Cost Rent shall thereafter be payable on the Fourteenth Floor Space and the Twelfth Floor Space as provided in this Lease.
(3) The Twelfth Floor Space shall be provided in an "as is" condition, with no obligation for Landlord to do or pay for any work or plans.
Retention Option. Notwithstanding anything in Section 2 to the contrary, Tenant shall have the option to retain Suite 820N as part of the Premises (“Retention Option”). Tenant may exercise the Retention Option by providing written notice (“Retention Notice”) on or before September 30, 2025 (“Notice Deadline”) of Tenant’s election to maintain possession of Suite 820N past the Surrender Date. Should Tenant fail to provide the Retention Notice to Landlord on or before the Notice Deadline, the Retention Option shall be null and void and of no further force or effect and, subject to Sections 11 and 12 below, Tenant shall have no rights relating to Suite 820N after the Surrender Date. Should Tenant deliver the Retention Notice to Landlord on or before the Notice Deadline, then, as of the date of the Retention Notice, the definitions of “Surrendered Premises” and “Remaining Premises” shall automatically be amended so that Suite 820N shall no longer be part of the Surrendered Premises and instead shall be part of the Remaining Premises, Sections 8(a) and 8(b) above shall automatically be amended to increase the Monthly Base Rental by $45,911.70 and Annual Base Rental by $550,940.40, and Tenant shall be entitled to the Suite 820N Allowance (as defined in Section 15(a)(v) below).
Retention Option