Allowance. In consideration of Tenant's extension of the Term of the Lease and the modifications and restatements contained in the First Amendment, Tenant is entitled to an allowance (the “Extension Allowance”) in the amount of , to be paid by Landlord to Tenant by wire transfer of immediately available funds on or about the Net Rent Effective Date; provided, however, that payment of the Extension Allowance may be postponed by Landlord for up to three (3) months after the Net Rent Effective Date, without default. In consideration of this right to postpone payment, Landlord agrees to a reduction in Basic Rent in the amount of for each month in which payment in full of the Extension Allowance is delayed, prorated weekly in accordance with [Schedule 11(a)] attached. The reduction of Basic Rent shall be calculated monthly in arrears so that, by way of example, if the Extension Allowance is paid to Tenant on April 15, Tenant shall be entitled to rent reduction in the amount of (2 weeks' Basic Rent reduction), to be applied against Basic Rent coming due in ;, if the Extension Allowance is paid to Tenant on April 22, Tenant shall be entitled to rent reduction in the total amount of (3 week's Basic Rent reduction), to be applied against Basic Rent coming due in .
To the extent that the total projected cost of the Tenant Improvements (as projected or approved by Landlord) exceeds the TI Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant Improvements on a pari passu basis with Landlord as such costs are paid, in the proportion of such Excess TI Costs payable by Tenant to the TI Allowance payable by Landlord. If the entire Excess TI Costs advanced by Tenant to Landlord are not applied toward the costs of the Tenant Improvements, then Landlord shall promptly return such excess to Tenant following completion of all of the Tenant Improvements.
Expense Allowance. The Company shall pay directly, or advance funds to Executive or reimburse Executive for, all expenses reasonably incurred by him in connection with the performance of his duties as an employee or consultant hereunder, upon the submission to the Company of itemized expense reports, receipts or vouchers in accordance with its then customary policies and practices.
Severance Allowance. The Company shall provide Employee [the applicable Severance Benefits described in [Section 4.1] of the Executive Severance Plan, as amended], subject to such deductions as required by law including, if applicable, repayment of the pay advance made to Employee on or about , that is not deducted from other amounts paid or payable to Employee.
Severance Allowance. Provided the Employee timely executes, returns, and does not revoke this Agreement and continues to provide services to the company up to and including the Termination Date, the Company shall provide the following consideration:
Housing Allowance. The Bank will pay the reasonable costs and expenses of temporary housing for Executive in the metropolitan area for 90 days following the Effective Date. If on or before the first anniversary of the Effective Date Executive terminates his or her employment hereunder (other than for Good Reason) or the Bank terminates Executive’s employment for Cause, Executive must promptly repay the Bank in full for the amount of such temporary housing allowance actually paid or reimbursed by the Bank.
Expense Allowance. Out of the proceeds of each Closing, the Company also agrees to pay Wainwright # for non-accountable expenses (to be increased to in case of a public Offering); # up to for fees and expenses of legal counsel and other out-of-pocket expenses (to be increased to in case of a public Offering); plus the additional amount payable by the Company pursuant to Paragraph D.3 hereunder and, if applicable, the costs associated with the use of a third-party electronic road show service (such as NetRoadshow); provided, however, that such amount in no way limits or impairs the indemnification and contribution provisions of this Agreement.
Retirement Allowance. Employee will be granted a retirement allowance commencing on the first of the month following the Separation Date. The retirement allowance will be based on the Employee's pensionable service through the Separation Date and compensation history as of the Separation Date and will be on the terms and conditions as set forth by the Company. The Employee understands and agrees that he is responsible for his share of Social Security and Medicare taxes and for any federal and/or state income taxes and any other taxes that may apply. Following the Separation Date, the Employee shall be eligible for those health and other welfare benefits under the Company's employee benefit plans on the same basis as a similarly situated individual who elected optional retirement from the Company. Contributions are subject to change, and no GE-sponsored medical coverage is available after attainment of age 65. Notwithstanding the above, the Company reserves the right to terminate, amend, eliminate and/or replace those health and other welfare benefits at its sole discretion and at any time. The Employee's eligibility for, and benefits under, such plans shall be subject to any changes to those plans.
Landlords Allowance. Landlord shall contribute toward the cost of the design, construction and installation of the Tenant Improvements (including, without limitation, the fee for Contractor and Landlords Costs (as defined in Paragraph 5.c.iii. below)) to be constructed in the Premises an amount not to exceed (Landlords Allowance); provided, however that not more than of Landlords Allowance may be applied to Tenants reasonable architectural and engineering costs for the design of the Tenant Improvements for the Premises; and provided, further, that not more than of Landlords Allowance may applied to the costs of work stations, carpeting, wall coverings, and data/telecommunications cabling/wiring for the Premises. No portion of Landlords Allowance may # be applied to the cost of any other equipment or furniture, or trade fixtures, moving expenses, or signage # be applied to any portion of the Premises which is then the subject of a sublease, or # be used to prepare any portion of the Premises for a proposed subtenant or assignee. Notwithstanding anything to the contrary in this Paragraph 5.c.i., but subject to Paragraph 5.c.ii., below, Landlords Allowance shall be available for disbursement pursuant to the terms hereof only until (the Forfeit Date). Accordingly, if any portion of Landlords Allowance has not been utilized (and Tenant has not submitted to Landlord invoices evidencing such costs) on or before the Forfeit Date, then, subject to Paragraph 5.c.ii., below, such unused portion shall be forfeited by Tenant. If Tenant elects to purchase work stations using the proceeds of the Landlords Allowance, then # Landlord shall have the option of requiring Tenant, upon (the expiration or earlier termination of the Lease, to transfer title of the work stations to Landlord and to leave the work stations at the Premises, # Tenant shall maintain insurance on such work stations for the full replacement value thereof, # Tenant shall keep and maintain the work stations in good working order, condition and repair, and # Tenant shall not allow any lien or other security interest to attach to or be placed upon such work stations at any time during the term of this Lease, and, in that regard, Tenant shall not offer the work stations as collateral for any loan or other financing Tenant may obtain.
Notwithstanding anything to the contrary herein contained: # Landlord shall have no obligation to advance funds on account of the ES Allowance # until Landlord shall have received an original W-9 executed by Tenant, nor # more than once per month; # If Tenant fails to pay to Tenant’s contractors the amounts paid by Landlord to Tenant in connection with any previous requisition(s), Landlord shall thereafter have the right to have the ES Allowance paid directly to Tenant's contractors; # Landlord shall have no obligation to pay any portion of the ES Allowance with respect to any requisition submitted after the date (the “Outside ES Requisition Date”) which is fifteen (15) months after the ES Commencement Date provided however, to the extent that the completion of Tenant’s ES Fitout is delayed by reason of a Landlord Delay, the Outside ES Requisition Date shall be extended by the period of time which Tenant is so delayed; # Tenant shall not be entitled to any unused portion of the ES Allowance; # Landlord’s obligation to pay any portion of the ES Allowance shall be conditioned upon there existing no default by Tenant in its obligations under the Lease at the time that Landlord would otherwise be required to make such payment (it being understood and agreed that if Tenant cures such default prior to the expiration of the notice and/or cure periods set forth in [Section 20.1] of the Lease, Landlord shall make such payment promptly after the cure is effectuated); and # In addition to all other requirements hereof, Landlord’s obligation to pay the final ten percent (10%) of the ES Allowance shall be subject to simultaneous delivery of all unconditional lien waivers relating to items, services and work performed in connection with Tenant’s ES Fitout.
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