Termination Procedure Clause Example from Business Contracts

Termination Procedure. (a) Notice of Termination. Any termination of the Employee's employment by the Company or by the Employee during the Employment Period (other than a termination on account of the death of Employee) shall be communicated by written "Notice of Termination" to the other party hereto in accordance with Section 10(a). (b) Date of Termination. "Date of Termination" shall mean (i) if the Employee's employment is terminated by his death, the date of his death, (ii) if the Employee's employment is termin...ated 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, and (iv) if the Employee'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; 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