Common use of Term Termination and Effect of Termination Clause in Contracts

Term Termination and Effect of Termination. 4.1 This Agreement shall enter into effect as of the Closing Date and shall remain in effect for a period of three (3) years (the “Term”), and neither party may terminate this Agreement except as set forth in Section 4.2 below. 4.2 Notwithstanding the generality of the foregoing, the Company may terminate this Agreement immediately, in any of the circumstances set forth in this Section ‎4.2 (each, a “Cause”): (i) breach by the Consultant of any of the material terms or conditions hereof with the Company, which, if capable of cure, was not cured within thirty (30) days of receipt by the Consultant of written notice thereof; (iv) bankruptcy of the Consultant; (v) willful misconduct, a felony committed or a fraud perpetrated against the Company, a parent or any subsidiary (if exists) thereof by the Consultant; or (vi) the Consultant is employed, renders services or holds material equity interest or otherwise have an active role in any business or activity which is a competitive with the Company's business provided however that it being clarified that any such position assumed by Consultant prior to the date hereof is hereby excluded. 4.3 If this Agreement is terminated prior to the lapse of the Term (i) by Enertec, other than for Cause, Consultant shall be entitled to receive the full Compensation (as defined below) for the Services set hereunder until the lapse of the Term; and (ii) by Enertec for Cause, or by the Consultant, Consultant shall not be entitled to the Compensation (as defined below) for the remainder of the Term.

Term Termination and Effect of Termination. 4.1 This Agreement shall enter into effect as of the Closing Date and shall remain in effect for a period of three (3) years (the “Term”), and neither party may terminate this Agreement except as set forth in Section 4.2 below. 4.2 Notwithstanding the generality of the foregoing, the Company may terminate this Agreement immediately, in any of the circumstances set forth in this Section ‎4.2 4.2 (each, a “Cause”): (i) breach by the Consultant of any of the material terms or conditions hereof with the Company, which, if capable of cure, was not cured within thirty (30) days of receipt by the Consultant of written notice thereof; (iv) bankruptcy of the Consultant; (v) willful misconduct, a felony committed or a fraud perpetrated against the Company, a parent or any subsidiary (if exists) thereof by the Consultant; or (vi) the Consultant is employed, renders services or holds material equity interest or otherwise have an active role in any business or activity which is a competitive with the Company's business provided however that it being clarified that any such position assumed by Consultant prior to the date hereof is hereby excluded. 4.3 If this Agreement is terminated prior to the lapse of the Term (i) by Enertec, other than for Cause, Consultant shall be entitled to receive the full Compensation (as defined below) for the Services set hereunder until the lapse of the Term; and (ii) by Enertec for Cause, or by the Consultant, Consultant shall not be entitled to the Compensation (as defined below) for the remainder of the Term.