Common use of Summary Termination Clause in Contracts

Summary Termination. 8.1 The Company may terminate the Executive’s employment forthwith, without notice or compensation, in any circumstances where the Executive: • shall become incapacitated from any cause whatsoever from performing his duties hereunder for at least twelve months (provided that termination of employment will not deprive the Executive of benefits under any permanent health insurance scheme provided by the Company); or • if being a director of the Company, shall be or become prohibited by law from being a director in either the UK or the Netherlands; or • is convicted of any criminal offence which prevents him from fulfilling his duties hereunder: or • shall fail to perform his duties competently or is guilty of any serious or persistent neglect in the discharge of duties, or commits any wilful, serious or persistent breach of any codes of conduct, policies and procedures issued by the Company; or • becomes bankrupt or makes any composition or enters into any deed of arrangement with creditors; 8.2 Any delay by the Company in exercising the right to terminate summarily under the clauses set out above shall not constitute a waiver of that right. The Executive shall have no claim for compensation in respect of such termination.

Summary Termination. 8.1 The Company may terminate the Executive’s employment forthwith, without notice or compensation, in any circumstances where the Executive: • shall become incapacitated from any cause whatsoever from performing his duties hereunder for at least twelve months or more (provided that termination of employment will not deprive the Executive of benefits under any permanent health insurance scheme Permanent Health Insurance Scheme provided by the Company); or • if If being a director of the Company, shall be or become prohibited by law from being a director in either the UK or the Netherlandsdirector; or • is convicted of any criminal offence which prevents him from fulfilling his duties hereunder: or • shall fail to perform his duties competently or is guilty of any serious or persistent neglect in the discharge of duties, or commits any wilful, serious or persistent breach of any codes of conduct, policies and procedures issued by the Company; or • becomes bankrupt or makes any composition or enters into any deed of arrangement with creditors; 8.2 Any delay by the Company in exercising the right to terminate summarily under the clauses set out above shall not constitute a waiver of that right. The Executive shall have no claim for compensation in respect of such termination.

Summary Termination. 8.1 The Company may terminate the Executive’s employment forthwith, without notice or compensation, in any circumstances where the Executive: • — shall become incapacitated from any cause whatsoever from performing his duties hereunder for at least twelve months (provided that termination of employment will not deprive the Executive of benefits under any permanent health insurance scheme provided by the Company); or • — if being a director of the Company, shall be or become prohibited by law from being a director in either the UK or the Netherlands; or • — is convicted of any criminal offence which prevents him from fulfilling his duties hereunder: or • — shall fail to perform his duties competently or is guilty of any serious or persistent neglect in the discharge of duties, or commits any wilful, serious or persistent breach of any codes of conduct, policies and procedures issued by the Company; or • — becomes bankrupt or makes any composition or enters into any deed of arrangement with creditors; 8.2 Any delay by the Company in exercising the right to terminate summarily under the clauses set out above shall not constitute a waiver of that right. The Executive shall have no claim for compensation in respect of such termination.