Phase Out Date definition
Examples of Phase Out Date in a sentence
After the Closing, all Excluded Marks of Seller and its Affiliates shall be replaced by Buyer, at Buyer's expense, as soon as possible, but in no event later than sixty (60) days after the Closing Date (the "Phase Out Date") for items with Excluded Marks affixed to them which Buyer has continued to use in Buyer's operation of the Business, including buildings, vehicles, heavy equipment, hard hats, tools, tool boxes, kits (safety and others), signs, public (pay) telephones, manual covers and notebooks.
Subject to the provisions of this Section 10.1.3, Seller grants to Buyer a non-exclusive, nontransferable and personal license to use the Excluded Marks in Buyer's operation of the Business in the Purchased Exchanges until the Phase Out Date.
Except as specifically provided in this Agreement, you understand and agree that, beginning on the Phase Out Date, you will not be entitled to any further salary, consulting fees, incentive compensation, participation rights, equity interests, vacation or sick pay, severance pay, health insurance, retirement benefits, disability or life insurance or any other compensation or benefits of any kind.
The Executive shall be eligible to receive a bonus pursuant to the incentive compensation program in effect from time to time for executive employees of the Company, in accordance with the Employment Agreement, prorated through the Phase Out Date (such prorated portion to be determined based upon the number of working days the Executive is employed by the Company prior to the Phase Out Date, divided by 365 and to be paid on the same date as other executive employees of the Company receive their bonuses).
From the Phase Out Date until November 30, 1997 (the "Advisory Period"), it is expected that you will continue to serve as Executive Producer of the Company's ▇▇.▇▇▇ television series and as a director of E! Online, Inc.
From and after the Phase Out Date through and including the Termination Date, the Executive shall continue as an employee of the Company as Senior Vice President - Operations, at the same salary and benefits as he received prior to the Phase Out Date, and shall devote as much time and energy to such position as is reasonably required to effectuate a smooth transition of responsibility to the new Chief Operating Officer.
Effective as of the Phase Out Date, you hereby resign as a Class I director of the Company.
From the Phase Out Date to the Resignation Date, you will be acting as an employee of the Company.
Effective as of March 1, 1997 (the "Phase Out Date"), you hereby resign as an officer of the Company and your duties as an employee of the Company will be limited to the consulting and advisory duties specified in paragraph 2 below.