Common use of Notwithstanding Clause 2 Clause in Contracts

Notwithstanding Clause 2. 2, where notice is served to terminate the Director’s employment (whether by the Company or the Director) the Company may (in its sole and absolute discretion) terminate the employment at any time and with immediate effect by making the Director a payment in lieu of the notice period (or, if applicable, the remainder of the notice period) equivalent to the salary payable to the Director under Clause 5.1 (at the date of termination) and the cost to the Company of providing the Director with contractual benefits (which for the avoidance of doubt, does not include any payment in respect of bonus) for the notice period or the remainder of the notice period.