Option Year Sample Clauses

Option Year. A. FAST MOVES shall have the option, at its sole discretion, to extend the Contract Term for a Third Contract Year to be defined as the period from October 1, 1990 to September 30, 1991. FAST MOVES must notify PLAYER, in writing, of its intention to exercise the option provided herein on or before July 1, 1990. B. In the event FAST MOVES decides to exercise the option provided by this ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇ Compensation for the Third Contract Year shall be the total of PLAYER'S earnings in Base Compensation and Performance Bonuses earned during the Second Contract Year plus twenty percent (20%) of such Second Contract Year earnings. For illustration purposes only: in the event at the end of the Second Contract Year, PLAYER has earned, under the terms of this Contract, One Hundred Twenty-five Thousand Dollars ($125,000.00) in Base Compensation and Thirty Thousand Dollars ($30,000.00) in Performance Bonuses, the PLAYER's Base Compensation for the Third Contract Year will amount to Two Hundred Twenty-five Thousand Five Hundred Dollars ($225,500.00) as calculated by the following: $205,000.00 x 10% = $20,500.00 + $205,000.00 = $225,500.00. C. If FAST MOVES chooses not to exercise the option provided by this Paragraph 4, PLAYER shall still be subject to the Right of First Refusal provisions contained in Paragraph 14.

Option Year a. The District hereby exercises its option year for the 2018-19 school year and extends the Term of the Agreement through June 30, 2019. The Parties expressly waive the deadline for exercising the option year set forth in the First Amendment. b. The Parties agree to add a third District option to extend the Agreement on the same terms for the 2019-20 school year. District shall have the right to exercise option year 2019-20 on or before June 1, 2019. District, at its sole and exclusive discretion, shall determine whether to exercise the option year. The District may consider numerous factors, including but not limited to the goals and targets set forth in the Original Agreement, including those set forth in paragraphs 3.2, 4.1, and 6.4.

Option Year. The Department shall have the right to extend the term of this Agreement for four (4) terms of one (1) year; provided that the Department shall give the Contractor preliminary written notice of its intent to exercise the option to extend the term of the Contract thirty (30) days prior to the expiration of the contract. The preliminary notice does not commit the Department to an extension. Contractor may waive the thirty (30) day notice requirement by providing a written waiver to the Contracting Officer prior to the expiration of the Contract.

Option Year. The Department may elected to unilaterally extend the term of this Agreement for a period of four (4), one (1)-year option periods (each an “Option Period”), or successive fractions thereof, by written notice to the Contractor before the expiration of the Agreement; provided that the District will give the Contractor preliminary written notice of its intent to extend at least thirty (30) days before the Agreement expires. The preliminary notice does not commit the Department to an extension. The exercise of any Option Period is subject to the availability of funds at the time of the exercise of this option. The Contractor may waive the thirty

Option Year. Each Purchaser may exercise the Option Year contemplated by Section 17 (Master Agreement) and Section 18 (Bus Purchase Agreement with Supplier), by providing to Metrolinx notice in writing of its intention to do so no later than forty-five (45) calendar days prior to the completion of the current term of the Master Agreement. Such notice may be provided by that Party’s Member. Notwithstanding anything in this Agreement to the contrary, in the event that no Purchaser notifies Metrolinx of its intention to exercise the Option Year under the Master Agreement, the Master Agreement shall be deemed to be at an end and shall expire at the completion of its current term.

Option Year. The parties to the agreement shall negotiate on pay adjustments for the period 1 February 2020 to 31 January 2021 by the end of November 2019. If no agreement is reached on the pay adjustments, the parties are entitled to terminate the collective agreement to end on 31 January 2020.