Termination Procedure Clause Example with Variations from Business Contracts

Termination Procedure. 6.1 (a) Notice of Termination. During the Term, any purported Any termination of the Executive's employment Service Period by the Bank or by the Executive (other than by reason a termination on account of the Executive's death) shall be communicated by written Notice "Notice of Termination from one party hereto Termination" to the other party hereto in accordance with Section 10 hereof. For purposes of this Agreement, a "Notice of Termination" shall mean a notice which shall indicate the... specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 4 6.2 10(c). (b) Date of Termination. "Date of Termination," with respect to any purported termination of the Executive's employment during the Term, Termination" shall mean (i) if the Executive's employment Service Period expires pursuant to Section 3(b) hereof, the date on which the expiration of the Service Period occurs; (ii) if the Service Period is terminated due to the Executive's death or Disability, the date of the Executive's death or Disability; (iii) if the Bank terminates the Service Period for Disability, thirty (30) days after Cause, the date on which the Notice of Termination is given; (iv) if the Executive terminates the Service Period for Good Reason, the date on which the Notice of Termination is given (provided that (or such other date as may be agreed to by the Bank); (v) if the Executive voluntarily terminates the Service Period (other than for Good Reason), the date specified in the Notice of Termination, which date shall not have returned be no earlier than sixty (60) days after the date such notice is given pursuant to Section 3(c)(v) hereof, unless otherwise agreed to by the full-time performance of the Executive's duties during such thirty (30) day period), parties; and (ii) (vi) if the Executive's employment Service Period is terminated for any other reason, the date specified in the Notice of Termination (which, in the case of on which a termination by the Executive, shall not be less than fifteen (15) days nor more than sixty (60) days, respectively, from the date such Notice of Termination is given). given or any later date (within thirty (30) days, or any alternative time period agreed upon by the parties, after the giving of such notice) as set forth in such Notice of Termination. View More

Termination Procedure. 6.1 (a) Notice of Termination. During the Term, any purported Any termination of the Executive's Employee's employment by the Company or by the Employee during the Employment Period (other than by reason a termination on account of death) the death of Employee) shall be communicated by written Notice "Notice of Termination from one party hereto Termination" to the other party hereto in accordance with Section 10 hereof. For purposes of this Agreement, a "Notice of Termination" shall mean a... notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 4 6.2 10(a). (b) Date of Termination. "Date of Termination," with respect to any purported termination of the Executive's employment during the Term, Termination" shall mean (i) if the Executive's Employee's employment is terminated for Disability, by his death, the date of his death, (ii) if the Employee's employment is terminated pursuant to Section 3(b), on the date the Employee receives Notice of Termination from the Company, (iii) if the Employee voluntarily terminates his employment, the date specified in the notice given pursuant to Section 3(e), which shall not be less than thirty (30) days after the Notice of Termination is given (provided that the Executive shall not have returned to the full-time performance of the Executive's duties during such thirty (30) day period), Termination, and (ii) (iv) if the Executive's Employee's employment is terminated for any other reason, the date specified in the Notice of Termination (which, in the case of on which a termination by the Executive, shall not be less than fifteen (15) days nor more than sixty (60) days, respectively, from the date such Notice of Termination is given). given or any later date (within thirty (30) days, or any alternative time period agreed upon by the parties, after the giving of such notice) set forth in such Notice of Termination; provided, that, the Company may terminate the Employee's employment at any time for Cause upon ten (10) days prior written notice given to the Employee in accordance with the terms of this Agreement. View More

Termination Procedure. 6.1 (A) Except in the event that Executive's employment terminates as a result of Executive's death (in which case no Notice of Termination. During the Term, Termination is required), any purported termination of the Executive's employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 10 13 hereof. For purposes of this Agreement, a "Notice of Termination" shall mean means a written notice which shall indicate that indicates the specific termination provision in this Agreement relied upon and shall set upon, and, if applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 4 6.2 Further, a Notice of Termination for Cause shall include a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board (excluding for these purposes Executive himself or herself) at a meeting of the Board that was called and held for the purpose of considering the termination (after reasonable notice to Executive and an opportunity for Executive, together with his or her counsel, to be heard by the members of the Board) finding that, in the informed, reasonable, good faith judgment of the Board, Executive was guilty of conduct set forth in the definition of Cause in Section 1(D), and specifying the particulars thereof in detail. (B) "Date of Termination" means the effective date of the termination of Executive's employment with the Corporation resulting from Executive's death or an event that constitutes a "separation from service" within the meaning of Section 409A of the Code. Except as provided in the next sentence, the Date of Termination. "Date of Termination," with respect to any purported termination of the Executive's employment during the Term, Termination shall mean be determined as follows: (i) if the 94887-3233-5181.4 Executive's employment is terminated for Disability, thirty (30) 20 business days after Notice of Termination is given (provided that the Executive shall not have returned to the full-time performance of the Executive's duties during such thirty (30) that 20 business day period), and period); (ii) if Executive's employment is terminated as a result of Executive's death, the date of Executive's death; and (iii) if Executive's employment is terminated for any other reason, the date specified in the Notice of Termination (which, Termination, which, in the case of a termination by the Corporation, shall not be less than 10 business days except in the case of a termination for Cause (in which case the date of termination may be earlier), and, in the case of a termination by Executive, shall not be less than fifteen (15) 10 business days nor more than sixty (60) 20 business days, respectively, from after the date such Notice of Termination is given). given. The Corporation and Executive shall take all steps necessary (including with regard to any post-termination services by Executive) to ensure that any termination described in this Paragraph (B) of Section 8 constitutes a "separation from service" (or is otherwise a permissible distribution event) within the meaning of Section 409A of the Code and that the date on which such separation from service (or permissible distribution event) takes place is the "Date of Termination". View More

Termination Procedure. 6.1 (a) Notice of Termination. During the Term, any purported Any termination of the Executive's employment by the Company or by Executive during the Employment Period (other than by reason of death) shall termination pursuant to Section 6(a)) will be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 10 hereof. 14. For purposes of this Agreement, a "Notice of Termination" shall mean means a notice which shall indicate the... specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 4 6.2 indicated if the termination is based on Sections 6(b), (c) or (d). (b) Date of Termination. "Date of Termination," with respect to any purported termination of the Executive's employment during the Term, shall mean Termination" means (i) if the Executive's employment is terminated for Disability, thirty (30) days after by his death, the date of his death, (ii) if Executive's employment is terminated pursuant to Section 6(b) (Disability), the date set forth in the Notice of Termination is given (provided that the Executive shall not have returned to the full-time performance of the Executive's duties during such thirty (30) day period), Termination, and (ii) (iii) if the Executive's employment is terminated for any other reason, the date specified on which a Notice of Termination is given or any later date (within 30 days after the giving of such notice) set forth in such Notice of Termination; provided, however, that if such termination is due to a Notice of Termination by Executive, the Company shall have the right to accelerate such notice and make the Date of Termination the date of the Notice of Termination (which, or such other date prior to the Executive's intended Date of Termination as the Company deems appropriate, which acceleration shall in the case of no event be deemed a termination by the Executive, Company without Cause or constitute Good Reason. (c) Removal from any Boards and Position. Upon the termination of Executive's employment with the Company for any reason, he shall not be less than fifteen (15) days nor more than sixty (60) days, respectively, deemed to resign (i) from the date such Notice board of Termination is given). trustees or directors of any subsidiary of the Company and/or any other board to which he has been appointed or nominated by or on behalf of the Company (including the Board), and (ii) 5 from any position with the Company or any subsidiary of the Company, including, but not limited to, as an officer and director of the Company and any of its subsidiaries. View More

Termination Procedure. 6.1 (a) Notice of Termination. During the Term, any purported Any termination of the Executive's employment by the Company or by Executive during the Term of Employment (other than by reason termination pursuant to Section 7(a)), including a Notice of death) Non-Renewal pursuant to Section 1, shall be communicated 5 by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 10 15 hereof. For purposes of this Agreement, a "Notice of Termination"... shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 4 6.2 (b) Date of Termination. "Date of Termination," with respect to any purported termination of the Executive's employment during the Term, Termination" shall mean (i) if the Executive's employment is terminated for Disability, thirty (30) by Executive's death, the date of Executive's death, (ii) if Executive's employment is terminated pursuant to Section 7(b), fifteen (15) days after Notice of Termination is given (provided that delivered to Executive, (iii) if Executive's employment is terminated by a Notice of Non-Renewal pursuant to Section 1, the Executive shall not have returned to the full-time performance last day of the Executive's duties during then current Term of Employment (which shall be at least ninety (90) days after such thirty (30) day period), and (ii) Notice of Non-Renewal is delivered), (iv) if the Executive's employment is terminated for any other reason, the date specified in the Notice of Termination (which, in the case of on which a termination by the Executive, shall not be less than fifteen (15) days nor more than sixty (60) days, respectively, from the date such Notice of Termination is given). given or any later date set forth in such notice (but within ninety (90) days after the giving of such notice), and (v) if Executive's employment is terminated pursuant to Section 7(d), thirty (30) days after Notice of Termination is delivered to Executive; provided, however, that the notice period for a termination by Executive without Good Reason shall be at least thirty (30) days after the giving of such Notice of Termination. View More

Termination Procedure. 6.1 Notice of Termination. (A) During the Term, term of this Agreement, any purported termination of the Executive's employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 10 11 hereof. For purposes of this Agreement, a "Notice of Termination" shall mean a written notice which shall indicate that indicates the specific termination provision in this Agreement relied upon and upon, and, if applicable, the notice shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 4 6.2 Date Further, a Notice of Termination for Cause shall include a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board at a meeting of the Board that was called and held for the purpose of considering the termination finding that, in the informed, reasonable, good faith judgment of the Board, the Executive was guilty of conduct set forth in the definition of Cause in Paragraph (B) of Section 1, and specifying the particulars thereof in reasonable detail. A Notice of Termination by the Employee in the case of a Constructive Termination shall specify in reasonable detail the event or circumstance constituting the Constructive Termination under Paragraph (F) of Section 1 of this Agreement. Such notice of Constructive Termination must be provided by the Executive to the Company within sixty (60) days of the initial existence of the condition giving rise to the Constructive Termination. (B) "Date of Termination," Termination" with respect to any purported termination of the Executive's employment during the Term, term of this Agreement (other than by reason of death) shall mean mean: (i) if the Executive's employment is terminated by the Company for Disability, thirty (30) days after Notice of Termination is given (provided that the Executive shall not have returned to the full-time performance of the Executive's duties during such that thirty (30) day period), and period); (ii) if the Executive's employment is terminated by the Company for any other reason, reason except in the case of a termination for Cause, up to thirty (30) days, at the Company's discretion, after Notice of Termination is given; (iii) if the Executive's employment is terminated by the Company for Cause, the date specified in the Notice of Termination (which, Termination; and 9 (iv) in the case of a termination by the Executive, shall not be less than fifteen (15) Executive (including a Constructive Termination following a Change in Control), thirty (30) days nor more than sixty (60) days, respectively, from after the date such Notice of Termination is given). given; provided, in the case of a Constructive Termination, the Notice of Termination contemplated by Paragraph (A) of this Section 5 shall be deemed cancelled, void and of no further force and effect, and no payment obligation of the Company shall arise therefrom, if the Company rescinds or otherwise eliminates or reverses the action or event that would otherwise constitute grounds for Constructive Termination, and so notifies the Executive in writing within thirty (30) days of its receipt of the notice of Constructive Termination. The rescission, elimination or reversal of any such action or event constituting a Constructive Termination shall not operate to release or discharge the Company from any other liability or obligation under this Agreement, including any liability or obligation arising from any subsequent action or event that constitutes a Constructive Termination. View More

Termination Procedure. 6.1 Notice of Termination. (A) During the Term, term of this Agreement, any purported termination of the Executive's employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 10 11 hereof. For purposes of this Agreement, a "Notice of Termination" shall mean a written notice which shall indicate that indicates the specific termination provision in this Agreement relied upon and upon, and, if applicable, the notice shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 4 6.2 Date Further, a Notice of Termination for Cause shall include a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board at a meeting of the Board that was called and held for the purpose of considering the termination finding that, in the informed, reasonable, good faith judgment of the Board, the Executive was guilty of conduct set forth in the definition of Cause in Paragraph (B) of Section 1, and specifying the particulars thereof in reasonable detail. A Notice of Termination by the Employee in the case of a Constructive Termination shall specify in reasonable detail the event or circumstance constituting the Constructive Termination under Paragraph (F) of Section 1 of this Agreement. Such notice of Constructive Termination must be provided by the Executive to the Company within sixty (60) days of the initial existence of the condition giving rise to the Constructive Termination. (B) "Date of Termination," Termination" with respect to any purported termination of the Executive's employment during the Term, term of this Agreement (other than by reason of death) shall mean mean: (i) if the Executive's employment is terminated by the Company for Disability, thirty (30) days after Notice of Termination is given (provided that the Executive shall not have returned to the full-time performance of the Executive's duties during such that thirty (30) day period), and period); (ii) if the Executive's employment is terminated by the Company for any other reason, reason except in the case of a termination for Cause, up to thirty (30) days, at the Company's discretion, after Notice of Termination is given; (iii) if the Executive's employment is terminated by the Company for Cause, the date specified in the Notice of Termination (which, Termination; and 7 (iv) in the case of a termination by the Executive, shall not be less than fifteen (15) Executive (including a Constructive Termination following a Change in Control), thirty (30) days nor more than sixty (60) days, respectively, from after the date such Notice of Termination is given). given; provided, in the case of a Constructive Termination, the Notice of Termination contemplated by Paragraph (A) of this Section 5 shall be deemed cancelled, void and of no further force and effect, and no payment obligation of the Company shall arise therefrom, if the Company rescinds or otherwise eliminates or reverses the action or event that would otherwise constitute grounds for Constructive Termination, and so notifies the Executive in writing within thirty (30) days of its receipt of the notice of Constructive Termination. The rescission, elimination or reversal of any such action or event constituting a Constructive Termination shall not operate to release or discharge the Company from any other liability or obligation under this Agreement, including any liability or obligation arising from any subsequent action or event that constitutes a Constructive Termination. View More

Termination Procedure. 6.1 Notice of Termination. (A) During the Term, term of this Agreement, any purported termination of the Executive's employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 10 11 hereof. For purposes of this Agreement, a "Notice of Termination" shall mean a written notice which shall indicate that indicates the specific termination provision in this Agreement relied upon and upon, and, if applicable, the notice shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 4 6.2 Date Further, a Notice of Termination for Cause shall include a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board at a meeting of the Board that was called and held for the purpose of considering the termination finding that, in the informed, reasonable, good faith judgment of the Board, the Executive was guilty of conduct set forth in the definition of Cause in Paragraph (B) of Section 1, and specifying the particulars thereof in reasonable detail. A Notice of Termination by the Employee in the case of a Constructive Termination shall specify in reasonable detail the event or circumstance constituting the Constructive Termination under Paragraph (F) of Section 1 of this Agreement. Such notice of Constructive Termination must be provided by the Executive to the Company within sixty (60) days of the initial existence of the condition giving rise to the Constructive Termination. (B) "Date of Termination," Termination" with respect to any purported termination of the Executive's employment during the Term, term of this Agreement (other than by reason of death) shall mean mean: (i) if the Executive's employment is terminated by the Company for Disability, thirty (30) days after Notice of Termination is given (provided that the Executive shall not have returned to the full-time performance of the Executive's duties during such that thirty (30) day period), and period); 7 (ii) if the Executive's employment is terminated by the Company for any other reason, reason except in the case of a termination for Cause, up to thirty (30) days, at the Company's discretion, after Notice of Termination is given; (iii) if the Executive's employment is terminated by the Company for Cause, the date specified in the Notice of Termination (which, Termination; and (iv) in the case of a termination by the Executive, shall not be less than fifteen (15) Executive (including a Constructive Termination following a Change in Control), thirty (30) days nor more than sixty (60) days, respectively, from after the date such Notice of Termination is given). given; provided, in the case of a Constructive Termination, the Notice of Termination contemplated by Paragraph (A) of this Section 5 shall be deemed cancelled, void and of no further force and effect, and no payment obligation of the Company shall arise therefrom, if the Company rescinds or otherwise eliminates or reverses the action or event that would otherwise constitute grounds for Constructive Termination, and so notifies the Executive in writing within thirty (30) days of its receipt of the notice of Constructive Termination. The rescission, elimination or reversal of any such action or event constituting a Constructive Termination shall not operate to release or discharge the Company from any other liability or obligation under this Agreement, including any liability or obligation arising from any subsequent action or event that constitutes a Constructive Termination. View More

Termination Procedure. 6.1 Notice of Termination. (A) During the Term, term of this Agreement, any purported termination of the Executive's employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 10 11 hereof. For purposes of this Agreement, a "Notice of Termination" shall mean a written notice which shall indicate that indicates the specific termination provision in this Agreement relied upon and upon, and, if applicable, the notice shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 4 6.2 Date Further, a Notice of Termination for Cause shall include a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board at a meeting of the Board that was called and held for the purpose of considering the termination finding that, in the informed, reasonable, good faith judgment of the Board, the Executive was guilty of conduct set forth in the definition of Cause in Paragraph (B) of Section 1, and specifying the particulars thereof in reasonable detail. A Notice of Termination by the Employee in the case of a Constructive Termination shall specify in reasonable detail the event or circumstance constituting the Constructive Termination under Paragraph (F) of Section 1 of this Agreement. Such notice of Constructive Termination must be provided by the Executive to the Company within sixty (60) days of the initial existence of the condition giving rise to the Constructive Termination. (B) "Date of Termination," Termination" with respect to any purported termination of the Executive's employment during the Term, term of this Agreement (other than by reason of death) shall mean mean: (i) if the Executive's employment is terminated by the Company for Disability, thirty (30) days after Notice of Termination is given (provided that the Executive shall not have returned to the full-time performance of the Executive's duties during such that thirty (30) day period), and period); (ii) if the Executive's employment is terminated by the Company for any other reason, reason except in the case of a termination for Cause, up to thirty (30) days, at the Company's discretion, after Notice of Termination is given; (iii) if the Executive's employment is terminated by the Company for Cause, the date specified in the Notice of Termination (which, Termination; and (iv) in the case of a termination by the Executive, shall not be less than fifteen (15) Executive (including a Constructive Termination following a Change in Control), thirty (30) days nor more than sixty (60) days, respectively, from after the date such Notice of Termination is given). given; provided, in the case of a Constructive Termination, the Notice of Termination contemplated by Paragraph (A) of this Section 5 shall be deemed cancelled, void and of no further force and effect, and no payment obligation of the Company shall arise therefrom, if the Company rescinds or otherwise eliminates or reverses the action or event that would otherwise constitute grounds for Constructive Termination, and so notifies the Executive in writing within thirty (30) days of its receipt of the notice of Constructive Termination. The rescission, elimination or reversal of any such action or event constituting a Constructive Termination shall not operate to release or discharge the Company from any other liability or obligation under this Agreement, including any liability or obligation arising from any subsequent action or event that constitutes a Constructive Termination. View More

Termination Procedure. 6.1 (a) Notice of Termination. During the Term, any purported Any termination of the Executive's employment by the Company or by Executive during the Term of Employment (other than by reason termination pursuant to Section 7(a)), including a Notice of death) Non-Renewal pursuant to Section 1, shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 10 15 hereof. For purposes of this Agreement, a "Notice of Termination"... shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated. 4 6.2 (b) Date of Termination. "Date of Termination," with respect to any purported termination of the Executive's employment during the Term, Termination" shall mean (i) if the Executive's employment is terminated for Disability, thirty (30) by his death, the date of his death, (ii) if Executive's employment is terminated pursuant to Section 7(b), fifteen (15) days after Notice of Termination is given (provided that delivered to Executive, (iii) if Executive's employment is terminated by a Notice of Non-Renewal pursuant to Section 1, the Executive shall not have returned to the full-time performance last day of the Executive's duties during then current Term of Employment (which shall be at least sixty (60) days after such thirty (30) day period), Notice of Non-Renewal is delivered); and (ii) (iv) if the Executive's employment is terminated for any other reason, the date specified in the Notice of Termination (which, in the case of on which a termination by the Executive, shall not be less than fifteen (15) days nor more than sixty (60) days, respectively, from the date such Notice of Termination is given). given or any later date set forth in such notice (but within ninety (90) days after the giving of such notice); provided, however, that the notice period for a termination by Executive without Good Reason shall be at least thirty (30) days after the giving of such Notice of Termination. View More