Payment in lieu of notice. Any time that notice of termination is required by any party under this Agreement, the Company may, in its sole discretion and at its option, relieve the Executive of his duties immediately and pay the Executive his regular base salary during the notice period.
Appears in 6 contracts
Sources: Executive Employment Agreement (Martek Biosciences Corp), Executive Employment Agreement (Martek Biosciences Corp), Executive Employment Agreement (Martek Biosciences Corp)