Common use of Termination by Board Clause in Contracts

Termination by Board. ▇▇. ▇▇▇▇▇ shall at all times serve at the pleasure of the Board and her employment shall be terminable at any time by an affirmative vote of a majority of the Board at a meeting which is duly noticed and convened. Should the Board terminate ▇▇. ▇▇▇▇▇ prior to the expiration of this Contract without cause, then ▇▇. ▇▇▇▇▇ shall be entitled to a one-time lump sum payment in an amount equal to eighteen (18) months salary at the rate being paid at the time of termination, or the salary which otherwise would have been paid to ▇▇. ▇▇▇▇▇ from the date of termination through the expiration of the Contract, whichever is lesser.

Termination by Board. ▇▇. ▇▇▇▇▇ shall at all times serve at the pleasure of the Board and her employment shall be terminable at any time by an affirmative vote of a majority of the Board at a meeting which is duly noticed and convened. Should the Board terminate te1minate ▇▇. ▇▇▇▇▇ prior to the expiration of this Contract without cause, then ▇▇. ▇▇▇▇▇ shall be entitled to a one-time lump sum payment in an amount equal to eighteen (18) months salary at the rate being paid at the time of termination, or the salary which otherwise would have been paid to ▇▇. ▇▇▇▇▇ from the date of termination through the expiration of the Contract, whichever is lesser.

Termination by Board. ▇▇. ▇▇▇▇▇ shall at all times serve at the pleasure of the Board and her employment shall be terminable at any time by an affirmative vote of a majority of the Board at a meeting which is duly noticed and convened. Should the Board terminate ▇▇. ▇▇▇▇▇ prior to the expiration of this Contract without cause, then ▇▇. ▇▇▇▇▇ shall be entitled to a one-time lump sum payment in an amount equal to eighteen (18) months months’ salary at the rate being paid at the time of termination, or the salary which otherwise would have been paid to ▇▇. ▇▇▇▇▇ from the date of termination through the expiration of the Contract, whichever is lesser.