The "Key Personnel" clause outlines the specific individuals deemed essential to fulfilling a contract, specifying their roles and responsibilities within the project. It often includes provisions requiring the approval of any changes to these personnel, ensuring continuity and the maintenance of necessary expertise throughout the contract's duration.
Key Personnel Date. In Section 2.2A of the Agreement “April 22, 2020” shall be deleted and replaced with “July 31, 2020”.
KEY PERSONNEL AND CONTRACTOR’S ORGANIZATION The persons named in the table below, in accordance with Section 2.2A of the Agreement, are designated by Contractor and approved by Owner as Key Personnel. Key Personnel shall be assigned full time to the Work for the entire duration of the Project unless otherwise specified in this Attachment F. Without limiting the requirements of the Agreement, before any Key Personnel are assigned to the Project, the full names and 1-2 page résumés of nominated Key Personnel shall be provided to and approved by Owner.
At the Closing, each Key Personnel shall be awarded a number of shares of unvested TheMaven Common Stock that constitute the Stock Awards equal to the product of (i) such Key Personnel’s Stock Pro Rata Share multiplied by the number of shares of unvested TheMaven Common Stock that constitute the Stock Awards, as adjusted pursuant to this Section 4.2(a), if applicable. Each such Stock Award held by such Key Personnel shall (i) vest in six (6) equal installments on June 1, 2019, October 1, 2019, February 1, 2020, June 1, 2020, October 1, 2020 and February 1, 2021 (each such date, a “Periodic Vesting Date”), so long as such Key Personnel is continuously employed by TheMaven or any Affiliate thereof, including the Surviving Corporation, and (ii) be subject to a right of repurchase by TheMaven as set forth in Section 4.2(b). Notwithstanding the foregoing, (i) in the event that the number of Total Unique Users (calculated without regard to calendar months) during the 30 days prior to Closing (the “Closing Traffic Level”) is less than 31,500,000, the aggregate number of shares constituting the Stock Awards shall be reduced by an amount equal to the product of (A) Two Million Four Hundred Thousand (2,400,000) multiplied by (B) the Closing Traffic Level divided by 35,000,000 and (ii) in the event that a Key Personnel is terminated by TheMaven or any Affiliate thereof for a reason other than Cause or resigns for Good Reason, each upon or following the Closing Date, then the shares of TheMaven Common Stock held by such Key Personnel shall become fully vested immediately prior to such termination or resignation and shall no longer be subject to a right of repurchase of TheMaven as set forth in Section 4.2(b).”
Restricted Stock Units. As of the Effective Date, each Key Personnel shall be awarded a number of restricted stock units, substantially in the form attached as Exhibit A hereto (each an “RSU Grant”) for a number of shares equal to the Stock Award received by such Key Personnel. Each such RSU Grant held by such Key Personnel shall vest in six (6) equal installments, one installment on each Periodic Vesting Date, so long as such Key Personnel is continuously employed by TheMaven or any Affiliate thereof, including the Surviving Corporation.
TheMaven shall directly remit on behalf of Key Personnel vesting under Stock Awards and/or RSU Grants (a “Vesting Holder”) all tax withholdings on behalf of each Vesting Holder (the “Vesting Tax Liability”) applicable to the vesting of Stock Awards and RSU Grants on such Vesting Date (the “Vesting Shares”).
KEY PERSONNEL Pursuant to the Key Personnel clause incorporated in Section I of this contract, the following individuals are considered to be essential to the work being performed hereunder: Name Title Alec Barclay Principal Investigator, Chief Operations Officer Catherine Hogan Director, Program Management
The key personnel specified in this contract are considered to be essential to work performance. At least 30 days prior to diverting any of the specified individuals to other programs or contracts (or as soon as possible, if an individual must be replaced, for example, as a result of leaving the employ of the Contractor), the Contractor shall notify the Contracting Officer and shall submit comprehensive justification for the diversion or replacement request (including proposed substitutions for key personnel) and qualifications of the individual proposed as a substitute to permit evaluation by the Government of the impact on performance under this contract. The Contractor shall not divert or otherwise replace any key personnel without the written consent of the Contracting Officer. The Government may modify the contract to add or delete key personnel at the request of the contractor or Government. At a minimum, the key personnel should include the project manager, principal investigator, radiation biologist, quality control manager, quality assurance director, regulatory lead, and manufacturing lead.
Therefore, according to the relevant requirements of the Proposal, on 10 March 2021 (the “Date of Grant”), the Board has considered and approved the grant of approximately 2,411.62 million share appreciation rights to 8,239 Key Personnel (excluding the Executive Directors, Non-Executive Director, Independent Directors, Supervisors and senior management of the Company) in total on the Date of Grant with the corresponding number of H shares of the Company (the “H Shares”) which amounted to approximately 2.98% of the total issued share capital of the Company as at the Date of Grant. The exercise price of each share appreciation right is HK$2.686, which is the highest of (1) the closing price of HK$2.680 of the H Shares as at the Date of Grant; (2) the arithmetic average closing price of HK$2.686 of the H Shares for the five consecutive trading days prior to the Date of Grant; (3) the nominal value of RMB1.00 of the H Shares. The respective closing prices are quoted from the daily quotation sheets of the Stock Exchange. The Proposal shall be valid for 60 months, which is effective from the Date of Grant. The share appreciation rights are settled in cash and are calculated in accordance with the fair value of the liabilities borne by the Company on the basis of share-based measurement.
The Key Personnel own the share appreciation rights and have the right to receive stipulated earnings from the increase in share price for a specified number of shares subject to specific timeframe and conditions. The Key Personnel do not beneficially own any rights to the shares, nor are they entitled to any shareholders’ voting rights and allotment rights. The share appreciation rights cannot be transferred nor be used as guarantee or for repayment of debts.
Proposal regarding adoption of a long-term incentive program for the Company’s management and key personnel (item a) The rationale for the proposal ESOP 2020 is intended for members of management and key personnel (including employees and consultants) in Calliditas. The Board of Directors of Calliditas believes that an equity-based incentive program in the form of stock options is a central part of an attractive and competitive remuneration package in order to attract, retain and motivate competent members of management and key personnel (including employees and consultants) in Calliditas, and to focus the participants on delivering exceptional performance which contributes to value creation for all shareholders.
Resolution on adoption of a long-term incentive program for the company’s management and key personnel (item 21) The Board of Directors of Calliditas Therapeutics proposes the introduction of a long-term incentive program for the company’s management and key personnel (including employees and consultants) in accordance with the following. The Board of Directors proposes that the annual general meeting resolves to implement a long-term incentive program for management and key personnel (including employees and consultants) in Calliditas Therapeutics (“ESOP 2023”) in accordance with items 21a – 21b below.
The Contractor shall not divert or otherwise replace any key personnel without the written consent of the Contracting Officer. The Government may modify the contract to add or delete key personnel at the request of the contractor or Government.
If executives, managers or other key personnel, including vessel crew, resign, retire or are terminated or their service is otherwise interrupted, we may not be able to replace them in a timely manner and we could experience significant declines in productivity. These uncertainties could affect our relationship with customers, vendors and other parties. Accordingly, no assurance can be given that we will be able to attract, retain and motivate executives, managers, other key personnel and/or vessel crew to the same extent as in the past.
Additional Key Personnel Updates Today, the Company provided key personnel updates which relate to its ongoing CREAM & Fire operating strategy which was unveiled in early 2023. In addition to the appointment of Josh Rosen as Chief Executive Officer, the Company promoted Brendan Sweeny to Executive Vice President of Operations and realigned the finance team, nicknamed C3FO, with enhanced responsibilities for Aaron Garrido (VP - Chief of Staff), Brandon Van Asten (VP of Finance and Controller), and Joe Duxbury (VP of Finance and IR). The Company also announced recent hires or affiliations of the following key personnel supporting its operations across Maryland and Minnesota: · Alex Breant, General Manager of Minnesota · Gabriel Garcia, Minnesota Director of Cultivation · Mark Doherty, Vice President of Facilities Management & Performance · Tyler Alzamora, Director of Laboratory Operations · Kyle Judson, Maryland Director of Cultivation · Nicole Stanton, Outside General Counsel
Key Personnel. Any key personnel specified in this contract are considered to be essential to work performance. At least thirty (30) calendar days prior to the Contractor voluntarily diverting any of the specified individuals to other programs or contracts the Contractor shall notify the Contracting Officer and shall submit a justification for the diversion or replacement and a request to replace the individual. The request must identify the proposed replacement and provide an explanation of how the replacement's skills, experience, and credentials meet or exceed the requirements of the contract (including, when applicable, Human Subjects Testing requirements). If the employee of the Contractor is terminated for cause or separates from the Contractor voluntarily with less than thirty (30) calendar-day notice, the Contractor shall provide the maximum notice practicable under the circumstances. The Contractor shall not divert, replace, or announce any such change to key personnel without the written consent of the Contracting Officer. The contract will be modified to add or delete key personnel as necessary to reflect the agreement of the parties. The following individuals are determined to be key personnel: ....
H.2Substitution of Key Personnel The Contractor agrees to assign to the contract those persons whose resumes/CVs were submitted with the proposal who are necessary to fill the requirements of the contract. No substitutions shall be made except in accordance with this clause. All requests for substitution must provide a detailed explanation of the circumstance necessitating the proposed substitution, a complete resume for the proposed substitute and any other information requested by the contracting officer to approve or disapprove the proposed substitution. All proposed substitutes must have qualifications that are equal to or higher than the qualifications of the person to be replaced. The contracting officer or authorized representative will evaluate such requests and promptly notify the contractor of his approval or disapproval thereof.
II.Substitution of Key Personnel The Contractor agrees to assign to the contract those persons whose resumes/CVs were submitted with the proposal who are necessary to fill the requirements of the contract. No substitutions shall be made, except in accordance with this clause. All requests for substitution must provide a detailed explanation of the circumstance necessitating the proposed substitution, a complete resume for the proposed substitute and any other information requested by the CO to approve or disapprove the proposed substitution. All proposed substitutes must have qualifications that are equal to or higher than the qualifications of the person to be replaced. The CO or authorized representative (TPOC) will evaluate such requests and promptly notify the Contractor of his approval or disapproval thereof.
Diversicare Healthcare Services, Inc. 2008 Employee Stock Purchase Plan for Key Personnel (formerly known as the Advocat Inc. 2008 Stock Purchase Plan for Key Personnel)
“Key personnel” refers to individuals within a company or organization who hold critical positions and are essential to the successful operation and strategic direction of the business. These are usually employees who possess specialized skills, knowledge, or experience that are pivotal for achieving organizational goals.
You should use the term “key personnel” when identifying specific individuals whose roles are critical to the execution and success of a contract, project, or business operation. Recognizing key personnel can be crucial during:
When writing out a list or referencing key personnel, consider the following steps:
Key Personnel List for Project Alpha
- Alice Johnson, Project Manager: Responsible for overseeing project timelines and deliverables.
- Bob Smith, Lead Engineer: Expert in system design and implementation.
- Carol Lee, Quality Assurance Specialist: Ensures adherence to quality standards and project requirements.
Contracts that often include key personnel clauses are those where the success of the contract heavily relies on the expertise and involvement of specific individuals. Types of contracts that may contain key personnel references include:
Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
Landlord indemnification is a contractual provision where the tenant agrees to hold the landlord harmless from any liabilities, losses, or damages arising from the tenant's actions or negligence on the property. This clause is designed to protect the landlord from legal and financial repercussions, shifting the responsibility to the tenant for any claims related to their occupancy.
A landscape buffer clause specifies the requirements for a designated area of vegetation or natural landscaping between properties or areas of development to provide visual screening, noise reduction, and environmental benefits. This clause typically outlines the dimensions, maintenance responsibilities, and types of plants or materials to be used to ensure effective separation and compliance with zoning or development regulations.
The "Language of Agreement" clause specifies the official language in which the contract is written and takes precedence in case of disputes regarding interpretation. Often included in international contracts, it helps ensure that all parties have a clear understanding of the terms, mitigating the risk of misunderstandings due to language differences.
Try our AI contract analysis and extract important clauses and information from existing contracts.
< <
Fill out the form and we will get in touch with you to give you a personal, customized demo of fynk.
Greetings!
I'm Markus, co-founder of fynk. After you've submitted the form, I'll swiftly get in touch with you.
Also, right after you submit your details, you can pick a time that works best for you for our meeting.
