TERMINATION BY EVENTS OF DEFAULT. The Appointment shall be subject to summary termination at any time by the Company by notice in writing if the Executive shall have committed any serious breach or (after warning in writing) any repeated or continued material breach of the obligations hereunder or shall have been guilty of any act of dishonesty or serious misconduct or shall be declared bankrupt or shall compound with his creditors. Any delay by the Company in exercising such right to termination shall not constitute a waiver thereof.
Appears in 3 contracts
Sources: Executive Service Agreement (Cb Richard Ellis Group Inc), Executive Service Agreement (Insignia Esg Holdings Inc), Executive Service Agreement (Insignia Financial Group Inc /De/)