Term and Termination Clause Example with 5 Variations from Business Contracts
This page contains Term and Termination clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Term and Termination. 14.1 Term. The term of this Agreement and the "Consulting Period" is from the Effective Date set forth above for twelve (12) months (the "Term"), unless earlier terminated as provided in this Agreement. 14.2 Termination. (a) Automatic Termination. If Consultant fails to timely execute the Transition Agreement according to its terms, then this Agreement will automatically terminate effective at the end of the date by which Consultant is required to execute the Transition Agreement. If Consultant ...revokes his acceptance of the Transition Agreement within seven (7) days after executing the Transition Agreement, then this Agreement will automatically terminate on the day of such revocation. (b) Termination upon Notice. Either party may terminate this Agreement for any reason, or no reason, upon thirty (30) days' advance written notice. (c) Termination upon Breach. The Client may terminate this Agreement before its expiration if the Consultant materially breaches the Agreement, which material breach remains uncured for ten (10) days following the Client's written notice to Consultant, detailing the specific circumstances surrounding any such breach. The parties agree that a "Material Breach" by Consultant shall occur if he: (i) materially and demonstrably fails to provide services contemplated hereunder as reasonably requested by the Client; or (ii) breaches any other material obligations of this Agreement that causes or is reasonably likely to harm the Company in any material manner. 14.3 Effect of Termination. Upon any termination or expiration of this Agreement, Consultant (i) shall immediately discontinue all use of Client's Confidential Information delivered under this Agreement; (ii) shall delete any such Client Confidential Information from Consultant's computer storage or any other media, including, but not limited to, online and off-line libraries; and (iii) shall return to Client, or, at Client's option, destroy, all copies of such Confidential Information then in Consultant's possession. In the event the Client terminates this Agreement, or if Consultant terminates this Agreement, Consultant will not receive any additional consulting fees or other compensation for services performed after the date of termination, other than as set forth herein. 14.4 Survival. The rights and obligations contained in Sections 3-6, 8-9, 12, 14.3, 14.4, and 15-23 will survive any termination or expiration of this Agreement.View More
Variations of a "Term and Termination" Clause from Business Contracts
Term and Termination. 14.1 Term. The term of this Agreement and the "Consulting Period" is from the Effective Date set forth above for twelve (12) months (the "Term"), and until May 31, 2021, unless earlier terminated as provided in this Agreement. 14.2 Termination. (a) Automatic Termination. If Scope and Limitation of Consulting Services. The Client will reasonably notify Consultant fails to timely execute the Transition Agreement according to its terms, then this Agreement will automatically terminate effective at ...the end in writing of the date by which need for his services at least 7 days prior to such need if such need requires Consultant is required to execute travel and/or will require 4 to 8 continuous hours of consulting services; otherwise the Transition Agreement. If Client will reasonably and timely notify Consultant revokes his acceptance in writing of the Transition Agreement within seven (7) days after executing need for his services. The Client understands that all consulting services provided by Consultant to the Transition Agreement, then this Agreement Client will automatically terminate on the day be subject to Consultant's personal and business schedule, and that all scheduling of such revocation. (b) Termination upon Notice. Either party may terminate this Agreement for any reason, or no reason, upon thirty (30) days' advance written notice. (c) Termination upon Breach. Consultant's service will be scheduled by Consultant in his reasonable discretion. 14.3 Termination. The Client may terminate this Agreement before its expiration immediately only if the Consultant materially breaches commits a Material Breach. The Consultant may terminate this Agreement at any time for any reason or for no reason upon timely written notification to the Agreement, which material breach remains uncured for ten (10) days following the Client's written notice to Consultant, detailing the specific circumstances surrounding any such breach. Client. The parties agree that a "Material Breach" by Consultant shall occur if he: (i) materially breaches this Agreement or the At-Will Employment, Confidential Information, and demonstrably Invention Assignment between Consultant and the Client dated November 16, 2015 ("Confidentiality Agreement") or the Separation Agreement and Release with the Client dated [DATE] ("Separation Agreement"); (ii) fails to provide services contemplated hereunder as reasonably requested by the Executive; (iii) engages in any act of dishonesty, fraud or misrepresentation with respect to the Client; or (ii) breaches any other material obligations of this Agreement that causes (iv) violates federal, state, or is reasonably likely to harm the Company in any material manner. 14.3 local criminal law (excluding traffic and parking violations). 14.4 Effect of Termination. Upon any termination or expiration of this Agreement, Consultant (i) shall immediately discontinue all use of Client's Confidential Information delivered under this Agreement; (ii) will cease being considered a Service Provider, as defined in any agreements between Consultant and the Client; (iii) shall delete any such Client Confidential Information from Consultant's computer storage or any other media, including, but not limited to, online and off-line libraries; and (iii) (iv) shall return to Client, or, at Client's option, destroy, all copies of such Confidential Information then in Consultant's possession. Notwithstanding anything to the contrary in any other Client policy, or agreement between Consultant and Client, in the event of the termination of this Agreement by Consultant, Consultant acknowledges and agrees that such termination shall not qualify as a resignation for Good Reason, termination by the Client for any reason, Retirement, or any other designation (as such terms may be used or defined in any such policies or agreements) that entitles Consultant to any separation pay, severance, vesting, health insurance, or other benefit under any Client policy or agreement with Client. In the event of the Client terminates termination of this Agreement, or if Consultant terminates this Agreement, Agreement by either Party (to the extent permitted hereunder), Consultant will not receive any additional consulting fees or other compensation for services performed after as of the date of termination, other than as set forth herein. 14.4 termination. 14.5 Survival. The rights and obligations contained in Sections 3-6, 8-9, 12, 13, 14.3, 14.4, and 15-23 15-22 will survive any termination or expiration of this Agreement. View More
Term and Termination. 14.1 15.1 Term. The term of this Agreement and (the "Consulting Period") shall be through the "Consulting Period" is from earliest of: (i) the Effective Date set forth above date on which the FDA approves or rejects the NDA for twelve (12) months (the "Term"), VP-102; or (ii) the date on which Consultant's Restricted Shares (as defined in the Transition Agreement) are fully vested, unless earlier terminated as provided in Section 15.2 this Agreement. 14.2 15.2 Termination. (a) Automatic Terminat...ion. If Consultant fails to timely execute the Transition Agreement according to its terms, then this Agreement will automatically terminate effective at the end of the date by which Consultant is required to execute the Transition Agreement. If Consultant revokes his acceptance of the Transition Agreement within seven (7) days after executing the Transition Agreement, then this Agreement will automatically terminate on the day of such revocation. (b) Termination upon Notice. Either party may terminate this Agreement for any reason, or no reason, upon thirty (30) days' advance written notice. (c) Termination upon Breach. The foregoing notwithstanding, Client may terminate this Agreement before its expiration if the immediately upon a Consultant materially breaches the Agreement, which material breach remains uncured for ten (10) days following the Client's written notice to Consultant, detailing the specific circumstances surrounding any such breach. Material Breach, and Consultant may terminate this Agreement immediately upon a Client Material Breach. The parties agree that a "Material "Consultant Material Breach" by Consultant shall occur if he: if: (i) Consultant materially and demonstrably fails breaches this Agreement causing material harm to provide services contemplated hereunder as reasonably requested by the Client; or (ii) Consultant knowingly, intentionally and materially breaches this Agreement; or (iii) Consultant engages in Competitive Activities for a person or entity other than the Company; or (iv) Consultant knowingly and intentionally breaches any other material obligations obligation not to use or disclose Client's Confidential Information; provided, however, that before Consultant Material Breach exists under (i) or (ii) the Client must first provide Consultant with specific written notice of the events underlying its position that Consultant Material Breach exists and provide Consultant with a 30-day opportunity to cure. The parties agree that a "Client Material Breach" shall occur if Client materially breaches this Agreement that causes or is reasonably likely Agreement, including, without limitation, its obligation to harm timely pay the Company in any material manner. 14.3 Monthly Fee. 15.3 Effect of Termination. Upon any termination or expiration of this Agreement, Consultant (i) shall immediately discontinue all use of Client's Confidential Information delivered under this Agreement; (ii) shall delete any such Client Confidential Information from Consultant's computer storage or any other media, including, but not limited to, online and off-line libraries; and (iii) shall return to Client, or, at Client's option, destroy, all copies of such Confidential Information then in Consultant's possession. In the event the Client terminates this Agreement, Agreement due to Consultant Material Breach, or if Consultant terminates this Agreement, Agreement without a Client Material Breach, Consultant will not receive any additional consulting fees or other compensation for services performed after the date of termination, termination. In addition, upon Consultant's termination of this Agreement due to Client Material Breach, or upon Client's termination of this Agreement for any reason other than a Consultant Material Breach, Consultant will receive a lump sum payment equal to $300,000 less the total amount of Monthly Fees paid through the date of termination, with such payment to be made within ten (10) business days after such termination and the accelerated vesting of Consultant's Restricted Shares pursuant to the terms of the Stock Purchase Agreement (as defined in the Transition Agreement and as set forth herein. 14.4 modified by Section 6 of the Transition Agreement). 15.4 Survival. The rights and obligations contained in Sections 3-6, 8-9, 12, 14.3, 14.4, 4-7, 9-10, 14, 15.3, 15.4, and 15-23 16-22 will survive any termination or expiration of this Agreement. View More
Term and Termination. 14.1 Term. 15.1Term. The term of this Agreement and the "Consulting Period" is for the period from the Effective Date as set forth above through March 21, 2022, and shall thereafter automatically renew at the end of the Consulting Period for twelve (12) months (the "Term"), an additional 12 month Consulting Period, and successive 12-month Consulting Periods thereafter, unless (a) terminated with ninety (90) days' notice prior to the end of the prior Consulting Period or (b) unless earlier termin...ated as provided in this Agreement. 14.2 Termination. (a) Automatic Termination. If Consultant fails to timely execute the Transition Agreement according to its terms, then this Agreement will automatically terminate effective at the end of the date by which Consultant is required to execute the Transition Agreement. If Consultant revokes his acceptance of the Transition Agreement within seven (7) days after executing the Transition Agreement, then this Agreement will automatically terminate on the day of such revocation. (b) (i.e., Without Cause Termination upon Notice. or For Cause Termination). 8 15.2Termination. Either party may terminate this Agreement for any reason, or no reason, upon thirty (30) ninety (90) days' advance written notice. (c) Termination upon Breach. notice ("Without Cause Termination). The Client may terminate this Agreement before its expiration immediately if the Consultant materially breaches Materially Breaches the Agreement, which material breach remains uncured for ten (10) days following the Client's written notice to Consultant, detailing the specific circumstances surrounding any such breach. Agreement ("For Cause Termination"). The parties agree that a "Material Breach" by Consultant shall occur if he: she: (i) materially and demonstrably fails to abide by any recognized professional standard, including any ethical standard; (ii) fails to provide services contemplated hereunder as reasonably requested by the Executive; (iii) secures other full-time employment that prohibits his/her ability to provide services to the Client; or (ii) (iv) breaches any other material obligations of this Agreement that causes Agreement, or is reasonably likely to harm (v) violates the Company in any material manner. 14.3 Effect Applicable Law. 15.3Effect of Termination. Upon any termination or expiration of this Agreement, Consultant (i) shall immediately discontinue all use of Client's Confidential Information delivered under this Agreement; (ii) shall delete any such Client Confidential Information from Consultant's computer storage or any other media, including, but not limited to, online and off-line libraries; and (iii) shall return to Client, or, at Client's option, destroy, all copies of such Confidential Information then in Consultant's possession. In the event the Client terminates this Agreement, or if Consultant terminates this Agreement, Consultant will not receive any additional consulting fees or other compensation for services performed after as of the date of termination, other than as set forth herein. 14.4 Survival. termination. 15.4Survival. The rights and obligations contained in Sections 3-6, 4-6, 8-9, 12, 13, 14.3, 14.4, and 15-23 will survive any termination or expiration of this Agreement. View More
Term and Termination. 14.1 15.1 Term. The term of this Agreement and the "Consulting Period" is for 12 months from the Effective Date set forth above for twelve (12) months (the "Term"), above, unless earlier terminated as provided in this Agreement. 14.2 15.2 Termination. (a) Automatic Termination. If Consultant fails to timely execute the Transition Agreement according to its terms, then this Agreement will automatically terminate effective at the end of the date by which Consultant is required to execute the Trans...ition Agreement. If Consultant revokes his acceptance of the Transition Agreement within seven (7) days after executing the Transition Agreement, then this Agreement will automatically terminate on the day of such revocation. (b) Termination upon Notice. Either party may terminate this Agreement for any reason, or no reason, upon thirty (30) days' advance written notice. (c) Termination upon Breach. The Client may terminate this Agreement before its expiration immediately if the Consultant materially breaches the Agreement, which material breach remains uncured for ten (10) days following the Client's written notice to Consultant, detailing the specific circumstances surrounding any such breach. Agreement. The parties agree that a "Material Breach" by Consultant shall occur if he: (i) materially and demonstrably fails to abide by any recognized professional standard, including any ethical standard; (ii) fails to provide services contemplated hereunder as reasonably requested by the Executive; (iii) secures other full-time employment that prohibits his ability to provide services to the Client; or (ii) (iv) breaches any other material obligations of this Agreement that causes Agreement, or is reasonably likely to harm the Company in any material manner. 14.3 (v) violates local, state, or federal laws. 6 15.3 Effect of Termination. Upon any termination or expiration of this Agreement, Consultant (i) shall immediately discontinue all use of Client's Confidential Information delivered under this Agreement; (ii) shall delete any such Client Confidential Information from Consultant's computer storage or any other media, including, but not limited to, online and off-line libraries; and (iii) shall return to Client, or, at Client's option, destroy, all copies of such Confidential Information then in Consultant's possession. In the event the Client terminates this Agreement, or if Consultant terminates this Agreement, Consultant will not receive any additional consulting fees or other compensation for services performed after as of the date of termination, other than as set forth herein. 14.4 termination. 15.4 Survival. The rights and obligations contained in Sections 3-6, 8-9, 12, 14.3, 14.4, 13-14, 15.3, 15.4, and 15-23 16-24 will survive any termination or expiration of this Agreement. View More
Term and Termination. 14.1 Term. The term of this Agreement and the "Consulting Period" is from the Effective Date set forth above for twelve (12) months (the "Term"), and until November 22, 2021, unless earlier terminated as provided in this Agreement. 14.2 Termination. (a) Automatic Termination. If Consultant fails to timely execute the Transition Agreement according to its terms, then this Agreement will automatically terminate effective at the end of the date by which Consultant is required to execute the Transit...ion Agreement. If Consultant revokes his acceptance of the Transition Agreement within seven (7) days after executing the Transition Agreement, then this Agreement will automatically terminate on the day of such revocation. (b) Termination upon Notice. Either party may terminate this Agreement for any reason, or no reason, upon thirty (30) days' advance written notice. (c) Termination upon Breach. The Client may terminate this Agreement before its expiration if the Consultant materially breaches the Agreement, which material breach remains uncured immediately for ten (10) days following the Client's written notice to Consultant, detailing the specific circumstances surrounding any such breach. Consultant's Material Breach of this Agreement. The parties agree that a "Material Breach" by Consultant shall occur if he: he/she: (i) materially and demonstrably fails to abide by any recognized professional standard, including any ethical standard; (ii) fails to provide services contemplated hereunder as reasonably requested by the Executive; (iii) secures full-time employment that prohibits his/her ability to provide services to the Client; or (ii) (iv) breaches any other material obligations of this Agreement that causes Agreement, or is reasonably likely to harm the Company in any material manner. (v) violates local, state, or federal laws. 14.3 Effect of Termination. Upon any termination or expiration of this Agreement, Consultant (i) shall immediately discontinue all use of Client's Confidential Information delivered under this Agreement; (ii) shall delete any such Client Confidential Information from Consultant's computer storage or any other media, including, but not limited to, online and off-line libraries; and (iii) shall return to Client, or, at Client's option, destroy, all copies of such Confidential Information then in Consultant's possession. In the event the Client terminates this Agreement, or if Consultant terminates this Agreement, Consultant will not receive any additional consulting fees or other compensation for services performed after as of the date of termination, other than as set forth herein. termination. 14.4 Survival. The rights and obligations contained in Sections 3-6, 8-9, 12, 13, 14.3, 14.4, and 15-23 15-24 will survive any termination or expiration of this Agreement. View More
