Scope; Effectiveness Clause Samples
The 'Scope; Effectiveness' clause defines the boundaries and applicability of an agreement, specifying which parties, activities, or subject matter are covered and when the agreement becomes legally binding. In practice, this clause may outline the start date of the agreement, detail any conditions that must be met for it to take effect, and clarify whether certain provisions apply to all parties or only to specific transactions. Its core function is to ensure all parties have a clear understanding of when the agreement is operative and what is included or excluded, thereby preventing misunderstandings and disputes about the agreement’s reach and enforceability.
Scope; Effectiveness. Paragraphs 4.7 and 4.8 set forth the terms and conditions of Flight Benefits provided to Executive effective as of January 1, 2008. Prior to and including December 31, 2007, Executive shall be entitled to Flight Benefits on the terms set forth in the Existing Agreement. Executive's Flight Benefits include Grandfathered Flight Benefits (as such term is defined in paragraph 4.8), which Executive shall retain in accordance with the terms and conditions of this paragraph 4.7 and the other terms of this Agreement. Effective calendar year 2008, the Grandfathered Flight Benefits shall be used in a calendar year only after Executive has used the annual Flight Benefits allotted to Executive for such year and then shall be used in accordance with the terms and conditions of this paragraph 4.7; provided, however, that if Executive would be subject to additional taxes and interest under Section 409A of the Code if Executive's right to use Executive's annual allotment of Flight Benefits is not delayed as provided in Section 409A(a)(2)(B)(i) of the Code and the regulations thereunder, then, during the six-month period following Executive's termination of employment, Executive shall be able to use (a) first, Executive's Annual Travel Limit and Annual Gross Up Limit (as such terms are defined in paragraph 4.8) that are not part of Executive's Grandfathered Flight Benefits until the time that such benefits used (together with any other miscellaneous separation pay benefits subject to Section 409A of the Code that are provided to Executive during such period) have an aggregate value equal to the applicable dollar amount under Section 402(g)(1)(B) of the Code for the year in which such termination of employment occurs, and (b) then, Executive's Grandfathered Flight Benefits.
Scope; Effectiveness. Effective January 1, 2008 [Insert for Non-Employee Directors first elected after January 1, 2008: or the date of your first election to the Board, if later], Flight Benefits will be provided for your lifetime subject to the terms set forth in this Exhibit A. [Insert for Non-Employee Directors elected prior to January 1, 2008: Non-Employee Director’s accrued benefits and rights with respect to the Flight Benefits under the terms of Non-Employee Director’s existing agreement(s) with Company are hereby surrendered and cancelled.]
Scope; Effectiveness. Effective January 1, 2008, Flight Benefits will be provided for your lifetime subject to the terms set forth in this Exhibit A. Non-Employee Director's accrued benefits and rights with respect to the Flight Benefits under the terms of Non-Employee Director's existing agreement(s) with Company are hereby surrendered and cancelled.
Scope; Effectiveness. Paragraphs 4.7 and 4.8 set forth the terms and conditions of Flight Benefits provided to Executive; provided, however, that if Executive would be subject to additional taxes and interest under Section 409A of the Code if Executive's right to use Executive's annual allotment of Flight Benefits is not delayed as provided in Section 409A(a)(2)(B)(i) of the Code and the regulations thereunder, then, during the six-month period following Executive's termination of employment, Executive shall be able to use Executive's Annual Travel Limit and Annual Gross Up Limit (as such terms are defined in paragraph 4.8) until the time that such benefits used (together with any other miscellaneous separation pay benefits subject to Section 409A of the Code that are provided to Executive during such period) have an aggregate value equal to the applicable dollar amount under Section 402(g)(1)(B) of the Code for the year in which such termination of employment occurs.