TERMINATION AND COMPENSATION PAYABLE FOLLOWING TERMINATION Clause Samples

The 'Termination and Compensation Payable Following Termination' clause defines the rights and obligations of the parties when the contract is ended before its natural expiration. It typically outlines the circumstances under which termination can occur, such as for cause or convenience, and specifies what compensation, if any, is owed to the affected party, such as severance payments, accrued benefits, or reimbursement for work performed up to the termination date. This clause ensures that both parties understand the financial and legal consequences of ending the agreement, thereby reducing disputes and providing a clear framework for handling early contract termination.
TERMINATION AND COMPENSATION PAYABLE FOLLOWING TERMINATION. Executive’s employment under this Agreement may be terminated in the following circumstances:
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Related to TERMINATION AND COMPENSATION PAYABLE FOLLOWING TERMINATION

  • Compensation Following Termination In the event that Executive’s employment hereunder is terminated, Executive shall be entitled only to the following compensation and benefits upon such termination:

  • 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.

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

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

  • Obligations Following Termination If a Non-Defaulting Party terminates this Agreement pursuant to this Section 13(b), then following such termination, Seller shall, at the sole cost and expense of the Defaulting Party, remove the equipment (except for mounting pads and support structures) constituting the System. The Non-Defaulting Party shall take all commercially reasonable efforts to mitigate its damages as the result of a Default Event.