Termination Procedure Clause Example from Business Contracts

Termination Procedure. (a)Notice of Termination. Any termination of the Executive's employment by the Company or by the Executive during or upon the expiration of the Employment Period (other than a termination on account of the death of Executive) shall be communicated by written "Notice of Termination" to the other party hereto in accordance with Section 10(b) of this Agreement. -5- (b)Date of Termination. For purposes of this Agreement, "Date of Termination" shall mean (i) if the Executive's employment is terminate...d by his death, the date of his death, (ii) if the Executive's employment is terminated pursuant to Section 4(c) of this Agreement, on the date the Executive receives Notice of Termination from the Company, (iii) if the Executive voluntarily terminates his employment without Good Reason, the date specified in the notice given pursuant to Section 4(e) herein, which shall not be less than thirty (30) days after the Notice of Termination (or one hundred and twenty (120) days thereafter, in the case of Retirement), (iv) if the Executive terminates his employment for Good Reason, the date specified in the notice given by the Executive of the event constituting Good Reason, which shall comply with the time periods and procedural requirements provided in Section 4(f) of this Agreement, and (v) if the Executive's employment is terminated for any other reason, the date on which a Notice of Termination is 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, including the Scheduled Termination Date, as applicable. View More