Termination Clause Example with 5 Variations from Business Contracts
This page contains 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.
Termination. 6.1 Bases for Termination. (1) Executive's employment may be terminated by the Company “with cause,” effective upon delivery of 5 business days of written notice to Executive if any of the following shall occur: (a)any action by Executive which would constitute a willful breach of duty or habitual neglect of duty; (b)any material breach of Executive's obligations as described herein; or (c)any material acts or events which inhibit Executive from fully performing his or her responsibilities to... the Company in good faith, such as (i) a felony criminal conviction; (ii) any other criminal conviction involving Executive's lack of honesty or moral turpitude; (iii) drug or alcohol abuse; or (iv) acts of dishonesty, gross carelessness or gross misconduct. (2) This Agreement shall automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. “Permanent incapacity” as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Board of Directors, either Executive's regularly attending physician or a duly licensed physician selected by the Company's Board of Directors, rendering Executive unable to perform substantially all of his or her duties hereunder and which appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive shall be deemed to have “become permanently incapacitated” on the date the Company's Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive. 3 (3) Notwithstanding any other provisions of this Agreement, Executive shall have the right to terminate the employment relationship under this Agreement at any time prior to the expiration of the Term of employment for any of the following reasons: (i)a breach by Company of any provision of this Agreement which remains uncorrected for thirty (30) days following written notice of such breach by Executive to Company; or (ii)for any other reason whatsoever, in the sole discretion of Executive. The termination of Executive’s employment by Executive under Section 7.1(3)(i), prior to the expiration of the Term shall constitute an “Involuntary Termination” as though Executive was terminated by the Company without cause. The termination of Executive's employment by Executive prior to the expiration of the Term shall constitute a “Voluntary Termination” if made pursuant to Section 6.1. (3)(ii) and shall be treated as the Company was forced to terminate Executive with cause.View More
Variations of a "Termination" Clause from Business Contracts
Termination. 6.1 Bases for Termination. (1) Executive's Executive’s employment may be terminated by the Company “with cause,” effective upon delivery of 5 business days of written notice to Executive if any of the following shall occur: (a)any action by Executive which would constitute a willful breach of duty or habitual neglect of duty; (b)any material breach of Executive's Executive’s obligations as described herein; or (c)any material acts or events which inhibit Executive from fully performing his or he...r responsibilities to the Company in good faith, such as (i) a felony criminal conviction; (ii) any other criminal conviction involving Executive's Executive’s lack of honesty or moral turpitude; (iii) drug or alcohol abuse; or (iv) acts of dishonesty, gross carelessness or gross misconduct. (2) This Agreement shall automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. “Permanent incapacity” as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Company’s Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Company’s Board of Directors, either Executive's Executive’s regularly attending physician or a duly licensed physician selected by the Company's Company’s Board of Directors, rendering Executive unable to perform substantially all of his or her duties hereunder and which appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive shall be deemed to have “become permanently incapacitated” on the date the Company's Company’s Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive. 3 (3) Notwithstanding any other provisions of this Agreement, Executive shall have the right to terminate the employment relationship under this Agreement at any time prior to the expiration of the Term of employment for any of the following reasons: (i)a breach by Company of any provision of this Agreement which remains uncorrected for thirty (30) days following written notice of such breach by Executive to Company; or (ii)for any other reason whatsoever, in the sole discretion of Executive. The termination of Executive’s employment by Executive under Section 7.1(3)(i), prior to the expiration of the Term shall constitute an “Involuntary Termination” as though Executive was terminated by the Company without cause. The termination of Executive's Executive’s employment by Executive prior to the expiration of the Term shall constitute a “Voluntary Termination” if made pursuant to Section 6.1. (3)(ii) and shall be treated as the Company was forced to terminate Executive with cause. View More
Termination. 6.1 Bases for Termination. (1) Executive's employment may be terminated by the Company “with cause,” "with cause," effective upon delivery of 5 business days of written notice to Executive if any of the following shall occur: (a)any (a) any action by Executive which would constitute a willful breach of duty or habitual neglect of duty; (b)any (b) any material breach of Executive's obligations as described herein; or (c)any (c) any material acts or events which inhibit Executive from fully perfor...ming his or her responsibilities to the Company in good faith, such as (i) a felony criminal conviction; (ii) any other criminal conviction involving Executive's lack of honesty or moral turpitude; (iii) drug or alcohol abuse; or (iv) acts of dishonesty, gross carelessness or gross misconduct. . (2) This Agreement shall automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. “Permanent incapacity” "Permanent incapacity" as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Board of Directors, either Executive's regularly attending physician or a duly licensed physician selected by the Company's Board of Directors, rendering Executive unable to perform substantially all of his or her duties hereunder and which appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive shall be deemed to have “become "become permanently incapacitated” incapacitated" on the date the Company's Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive. 3 (3) Notwithstanding any other provisions of this Agreement, Executive shall have the right to terminate the employment relationship under this Agreement at any time prior to the expiration of the Term of employment for any of the following reasons: (i)a (i) a breach by Company of any provision of this Agreement which remains uncorrected for thirty (30) 30 days following written notice of such breach by Executive to Company; or (ii)for (ii) for any other reason whatsoever, in the sole discretion of Executive. The termination of Executive’s Executive's employment by Executive under Section 7.1(3)(i), prior to the expiration of the Term shall constitute an “Involuntary Termination” "Involuntary Termination" as though Executive was terminated by the Company without cause. The termination of Executive's employment by Executive prior to the expiration of the Term shall constitute a “Voluntary Termination” "Voluntary Termination" if made pursuant to Section 6.1. (3)(ii) and shall be treated as the Company was forced to terminate Executive with cause. View More
Termination. 6.1 Bases for Termination. (1) Executive's employment may be terminated by the Company “with cause,” "with cause," effective upon delivery of 5 five (5) business days of written notice to Executive if any of the following shall occur: (a)any action by Executive which would constitute a willful breach of duty or habitual neglect of duty; (b)any material breach of Executive's obligations as described herein; or (c)any material acts or events which inhibit Executive from fully performing his or her... responsibilities to the Company in good faith, such as (i) a felony criminal conviction; (ii) any other criminal conviction involving Executive's lack of honesty or moral turpitude; (iii) drug or alcohol abuse; or (iv) acts of dishonesty, gross carelessness or gross misconduct. 3 (2) This Agreement shall automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. “Permanent incapacity” "Permanent Incapacity" as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Board of Directors, either Executive's regularly attending physician or a duly licensed physician selected by the Company's Board of Directors, rendering Executive unable to perform substantially all of his or her duties hereunder and which appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive shall be deemed to have “become "become permanently incapacitated” incapacitated" on the date the Company's Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive. 3 (3) Notwithstanding any other provisions of this Agreement, Executive shall have the right to terminate the employment relationship under this Agreement at any time prior to the expiration of the Term of employment for any of the following reasons: (i)a breach by Company of any provision of this Agreement which remains uncorrected for thirty (30) days following written notice of such breach by Executive to Company; or (ii)for any other reason whatsoever, in the sole discretion of Executive. The termination of Executive’s Executive's employment by Executive under Section 7.1(3)(i), prior to the expiration of the Term shall constitute an “Involuntary Termination” "Involuntary Termination" as though Executive was terminated by the Company without cause. The termination of Executive's employment by Executive prior to the expiration of the Term shall constitute a “Voluntary Termination” "Voluntary Termination" if made pursuant to Section 6.1. (3)(ii) and shall be treated as the Company was forced to terminate Executive with cause. View More
Termination. 6.1 Bases for Termination. (1) Executive's employment may be terminated by the Company “with cause,” "with cause," effective upon delivery of 5 business days of written notice to Executive if any of the following shall occur: (a)any action by Executive which would constitute a willful breach of duty or habitual neglect of duty; (b)any material breach of Executive's obligations as described herein; or (c)any material acts or events which inhibit Executive from fully performing his or her responsi...bilities to the Company in good faith, such as (i) a felony criminal conviction; (ii) any other criminal conviction involving Executive's lack of honesty or moral turpitude; (iii) drug or alcohol abuse; or (iv) acts of dishonesty, gross carelessness or gross misconduct. (2) This Agreement shall automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. “Permanent incapacity” "Permanent incapacity" as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Board of Directors, either Executive's regularly attending physician or a duly licensed physician selected by the Company's Board of Directors, rendering Executive unable to perform substantially all of his or her duties hereunder and which appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive shall be deemed to have “become "become permanently incapacitated” incapacitated" on the date the Company's Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive. 3 (3) Notwithstanding any other provisions of this Agreement, Executive shall have the right to terminate the employment relationship relationshi p under this Agreement at any time prior to the expiration of the Term of employment for any of the following reasons: (i)a breach by Company of any provision of this Agreement which remains uncorrected for thirty (30) days following written notice of such breach by Executive to Company; or (ii)for any other reason whatsoever, in the sole discretion of Executive. The the termination of Executive’s Executive's employment by Executive under Section 7.1(3)(i), prior to the expiration of the Term shall constitute an “Involuntary Termination” "Involuntary Termination" as though Executive was terminated by the Company without cause. The termination of Executive's employment by Executive prior to the expiration of the Term shall constitute a “Voluntary Termination” "Voluntary Termination" if made pursuant to Section 6.1. 6.l. (3)(ii) and shall be treated as the Company was forced to terminate Executive with cause. View More
Termination. 6.1 Bases for Termination. (1) Executive's Executive’s employment may be terminated by the Company “with cause,” effective upon delivery of 5 business days of written notice to Executive if any of the following shall occur: (a)any action by Executive which would constitute a willful breach of duty or habitual neglect of duty; (b)any material breach of Executive's Executive’s obligations as described herein; or (c)any material acts or events which inhibit Executive from fully performing his or he...r responsibilities to the Company in good faith, such as (i) a felony criminal conviction; (ii) any other criminal conviction involving Executive's Executive’s lack of honesty or moral turpitude; (iii) drug or alcohol abuse; or (iv) acts of dishonesty, gross carelessness or gross misconduct. (2) This Agreement shall automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. “Permanent incapacity” as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Company’s Board of Directors based upon a certification of such incapacity by, in the discretion of the Company's Company’s Board of Directors, either Executive's Executive’s regularly attending physician or a duly licensed physician selected by the Company's Company’s Board of Directors, rendering Executive unable to perform substantially all of his or her duties hereunder and which appears reasonably certain to continue for at least six consecutive months without substantial improvement. Executive shall be deemed to have “become permanently incapacitated” on the date the Company's Company’s Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive. 3 (3) Notwithstanding any other provisions of this Agreement, Executive shall have the right to terminate the employment relationship under this Agreement at any time prior to the expiration of the Term of employment for any of the following reasons: (i)a breach by Company of any provision of this Agreement which remains uncorrected for thirty (30) days following written notice of such breach by Executive to Company; or (ii)for any other reason whatsoever, in the sole discretion of Executive. The termination of Executive’s employment by Executive under Section 7.1(3)(i), prior to the expiration of the Term shall constitute an “Involuntary Termination” as though Executive was terminated by the Company without cause. The termination of Executive's Executive’s employment by Executive prior to the expiration of the Term shall constitute a “Voluntary Termination” if made pursuant to Section 6.1. (3)(ii) and shall be treated as the Company was forced to terminate Executive with cause. View More
