Compensation and Termination Clause Samples

Compensation and Termination. 5.1 Unless otherwise provided for herein, in the event that either Party breaches its obligation hereunder (including the obligation in Article 3 hereof) either in full or in part, the non-breaching Party may serve a notice in writing requesting the breaching Party to cure its breach within 60 days after receiving the notice, to take appropriate measures to effectively and timely prevent any loss or damage, and to continue to perform its obligations hereunder. Without limiting the foregoing, the breaching Party shall compensate the non-breaching Party for any damage the latter sustained as a result of such breach. However, unless there is a material damage, the non-breaching Party shall not terminate this Agreement. 5.2 In the event that any of the representations and undertakings made by either Party under Article 3 hereof is untrue, and as a result the non-breaching Party sustains a damage, the breaching Party shall compensate the non-breaching Party for any damage the latter sustained as a result. However, unless there is a material violation of the representations and undertakings, the non-breaching Party shall not terminate this Agreement.
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Compensation and Termination. 2.1 Merck shall pay Medco the fees set forth in Schedule 2A. 2.2 Merck may terminate this Agreement for any reason or no reason, effective January 1, 2003 or at any later date, upon at least 90 days prior written notice to Medco. In the event of termination, the fees payable under Section 2.1 shall be reduced pro rata for the number of months left in the year if the services are terminated mid-year.
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Compensation and Termination. Upon termination of Warkol's employment, Warkol shall be entitled to his salary base through the Date of Termination at the rate in effect at the time the notice of termination is given and shall provide to Warkol the benefits described hereunder through the Date of Termination, except as otherwise provided by applicable law. Thereafter, the Company shall have no further obligations to Warkol under this Agreement.
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Compensation and Termination. Avis agrees to pay to the Executive and the Executive agrees to accept the following amounts and benefits as compensation for his services hereunder and for the performance of other duties assigned to him by the President and Chief Executive Officer of Avis: A. Commencing September 21, 1987, Avis shall pay the Executive a base salary at the rate of one hundred thousand dollars ($100,000.00) per annum, payable in equal biweekly installments. This base salary may be increased from time to time. ▇. ▇▇▇▇ shall pay the Executive an annual bonus within sixty (60) days of the close of Avis' fiscal year under the Corporate Management Incentive Plan (the "Plan"), as it presently exists or is subsequently modified, at his present percentage of "Standard Incentive," during the Term of the Agreement or any Extended Employment Period. The percentage of "Standard Incentive" may be increased or decreased from time to time by order of the Board of Directors. For purposes of this agreement, "Standard Incentive" shall be defined as 70% of maximum incentive. Whenever the amount of bonus to which the Executive is entitled is to be determined by reference to Executive's participation in the Plan for less than an entire Plan year, the amount of bonus to be paid to Executive under the Plan shall be a percentage of the bonus that he would have received had he worked for Avis for the entire Plan year, which percentage shall be calculated as the part of that Plan year that he did work bears to the entire Plan year ("Pro Rated Share"). C. If, during the Term of the Agreement or the Extended Employment Period, the Executive shall be unable to perform his duties hereunder because of illness or other incapacity, and the period of such illness or other incapacity shall total in excess of six (6) consecutive months, Avis shall thereafter have the right, on not less than thirty (30) days advance written notice to the Executive, to terminate Executive's employment. In such event, Avis shall pay the Executive, as and when due, only his base compensation provided for in Paragraph A of this Article II for a period of one (1) year following the date of such termination. Avis and Executive agree that in such circumstances Executive will not be entitled to any Pro Rated Share of bonus payment under the Bonus Plan for the Plan year in which the termination occurs. Avis may at its election purchase insurance to cover its obligations under this Paragraph, and Executive agrees to assist Avis in secu...
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Compensation and Termination. Commencing 1 January 2022 the Client shall pay to JSO one-time at its office in ▇▇▇▇ County, Georgia, as fees for its services, upgrades, and software support $ 25000.00 single payment (one- time fee). The payment rate is subject to change, upon notification. The Client will be responsible for generating an invoice report from the Court Management System each month to be included in with the payment sent to JSO office in ▇▇▇▇ County, Georgia. If the Client shall default in the payments of JSO provided for herein above or shall fail to perform any other material obligation agreed to be performed by client hereunder JSO shall notify the Client in writing of the facts constituting default. If the Client shall not cause such default to be remedied within ten (10) days after receipt of such written notice, JSO shall have the right with no further written notice to terminate aforementioned support.
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Related to Compensation and Termination

  • Duration and Termination This Agreement shall become effective with respect to each Fund as of the corresponding effective date indicated in Appendix A and, unless sooner terminated with respect to a Fund as provided herein, shall continue in effect for a period of two years as to such Fund. Thereafter, if not terminated, this Agreement shall continue in effect with respect to the Fund for successive periods of 12 months, provided such continuance is specifically approved at least annually by both (a) the vote of a majority of the Trust’s Board of Trustees or the vote of a majority of the outstanding voting securities of the Fund at the time outstanding and entitled to vote, and (b) the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval. Notwithstanding the foregoing, this Agreement may be terminated by the Trust at any time as to a Fund, without the payment of any penalty, upon giving the Advisor 60 days’ notice (which notice may be waived by the Advisor), provided that such termination by the Trust shall be directed or approved (x) by the vote of a majority of the Trustees of the Trust in office at the time or by the vote of the holders of a majority of the voting securities of the Fund at the time outstanding and entitled to vote, or (y) by the Advisor on 60 days’ written notice (which notice may be waived by the Trust). This Agreement will also immediately terminate in the event of its assignment. (As used in this Agreement, the terms “majority of the outstanding voting securities,” “interested person” and “assignment” shall have the same meanings of such terms in the 1940 Act.)

  • Termination and Termination Benefits Notwithstanding the provisions of Section 3, the Executive's employment under this Agreement shall terminate under the following circumstances set forth in this Section 6.

  • Termination and Termination Pay Subject to Section 12 of this Agreement, Executive’s employment under this Agreement may be terminated in the following circumstances:

  • Resignation and Termination An Authenticating Agent may resign by notifying the Indenture Trustee and the Owner Trustee. The Indenture Trustee may terminate the agency of an Authenticating Agent by notifying the Authenticating Agent and the Owner Trustee.

  • Duration and Termination of Agreement This Agreement shall become effective with respect to each Portfolio on the later of (i) its execution and (ii) the date of the meeting of the Board of Trustees of the Trust, at which meeting this Agreement is approved as described below. The Agreement will continue in effect for a period more than two years from the date of its execution only so long as such continuance is specifically approved at least annually either by the Trustees of the Trust or by a majority of the outstanding voting securities of each of the Portfolios, provided that in either event such continuance shall also be approved by the vote of a majority of the Trustees of the Trust who are not interested persons (as defined in the Investment Company Act) of any party to this Agreement cast in person at a meeting called for the purpose of voting on such approval. Any required shareholder approval of the Agreement or of any continuance of the Agreement shall be effective with respect to any Portfolio if a majority of the outstanding voting securities of the series (as defined in Rule 18f-2(h) under the Investment Company Act) of shares of that Portfolio votes to approve the Agreement or its continuance, notwithstanding that the Agreement or its continuance may not have been approved by a majority of the outstanding voting securities of (a) any other Portfolio affected by the Agreement or (b) all the portfolios of the Trust. If any required shareholder approval of this Agreement or any continuance of the Agreement is not obtained, the Subadviser will continue to act as investment subadviser with respect to such Portfolio pending the required approval of the Agreement or its continuance or of a new contract with the Subadviser or a different adviser or subadviser or other definitive action; provided, that the compensation received by the Subadviser in respect of such Portfolio during such period is in compliance with Rule 15a-4 under the Investment Company Act. This Agreement may be terminated at any time, without the payment of any penalty, by the Trustees of the Trust, by the vote of a majority of the outstanding voting securities of the Trust, or with respect to any Portfolio by the vote of a majority of the outstanding voting securities of such Portfolio, on sixty days' written notice to the Adviser and the Subadviser, or by the Adviser or Subadviser on sixty days' written notice to the Trust and the other party. This Agreement will automatically terminate, without the payment of any penalty, in the event of its assignment (as defined in the Investment Company Act) or in the event the Advisory Agreement between the Adviser and the Trust terminates for any reason.