Termination; Compensation Due Sample Clauses
The 'Termination; Compensation Due' clause defines the rights and obligations of the parties regarding payment when a contract is ended before its natural completion. Typically, this clause outlines how and when compensation is calculated and paid to the affected party, such as covering work performed up to the termination date or reimbursing certain costs incurred. Its core function is to ensure fairness and clarity by specifying financial arrangements upon early termination, thereby reducing disputes and uncertainty over outstanding payments.
Termination; Compensation Due. The Executive's employment hereunder may terminate, and the Executive’s right to compensation for periods after the date the Executive’s employment with the Company terminates shall be determined, in accordance with the provisions of paragraphs (a) through (e) below:
Termination; Compensation Due. The Director’s appointment hereunder may terminate, and the Director’s right to compensation for periods after termination shall be determined in accordance with the provisions of paragraphs (a) through (e) below:
Termination; Compensation Due. The Advisor's engagement hereunder may terminate, and the Advisor’s right to compensation for periods after the date the Advisor’s engagement with the Company terminates shall be determined, in accordance with the provisions of paragraphs (a) through (e) below:
Termination; Compensation Due after the Substantial Completion Date is payable from amounts held in the AP Relief Event and Termination Compensation Fund until such Termination Compensation amount is paid in full or any lesser balance in the AP Relief Event and Termination Compensation Fund is exhausted and then from the General Reserve Fund as necessary to pay the remaining balance of the Termination Compensation.