Termination for Good Cause Clause Samples
The 'Termination for Good Cause' clause allows one or both parties to end a contract before its scheduled completion if certain serious reasons arise. Typically, these reasons might include significant breaches of contract, insolvency, or illegal activity by the other party. This clause provides a clear legal mechanism for exiting the agreement when continuing would be unreasonable or harmful, thereby protecting parties from being bound to unfavorable or untenable contractual relationships.
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Termination for Good Cause. The Executive may terminate his Employment for Good Cause at any time within 180 days (730 days if the Good Cause is the occurrence of a Change of Control) after the Executive becomes consciously aware that the facts and circumstances constituting that Good Cause exist and are continuing by giving the Company 14 days' prior written notice that the Executive intends to terminate his Employment for Good Cause, which notice will identify that Good Cause; provided, however, that if a Change of Control occurs, the Executive shall not have Good Cause to terminate his Employment solely by reason of the occurrence of that event until 270 days after that occurrence.
Termination for Good Cause. For “Good Cause”, which shall mean the occurrence of any of the following events, without Executive’s consent: (i) a material diminution in Executive’s then current Monthly Base Salary, (ii) a material change in the location of Executive’s principal place of employment by the Company from the “Location” set out on Exhibit “A,” (iii) any material diminution in Executive’s Position from that set out on Exhibit “A” or any title or Position to which Executive has been promoted, (iv) any material diminution of Executive’s authority, duties, or responsibilities from those commensurate and consistent with the character, status and dignity appropriate to Executive’s Position or any title or Position to which Executive has been promoted (provided, however, that if at any time Executive ceases to have such duties and responsibilities as are commensurate and consistent with his Position that are associated with a publicly traded company because the Company ceases to have any securities registered under Section 12 of the Securities Exchange Act of 1934, as amended, or ceases to be required to file reports under Section 15(d) of the Securities Exchange Act of 1934, as amended, then Executive’s authority, duties and responsibilities will not be deemed to have been materially diminished solely due to the cessation of such publicly-traded company duties and responsibilities), or (v) any material breach by the Company of any material provision of this Agreement, which in the case of any of (i) through (v) above remains uncorrected by the Company for 30 days following Executive’s written notice to the Company of Good Cause. Executive must provide such written notice to the Company of Good Cause within 60 days of the initial existence of such specified event alleged to constitute Good Cause. Executive shall not be entitled to terminate his employment for Good Cause with respect to specified events unless Executive tenders resignation for Good Cause within 30 days of the Company’s failure to cure. Upon Executive’s termination of employment for Good Cause, Executive shall receive all severance benefits and equity treatment described in Section 1.1.b. as if Executive’s employment ended due to an Involuntary Termination by the Company (provided, however, that, in the event of a termination for Good Cause in circumstances in which the provisions of Section 1.3 would be applicable, the provisions of Section 1.3 will instead apply).
Termination for Good Cause. The Company shall have the right to terminate Executive's employment with the Company under this Agreement for Good Cause. As used in this Agreement, the term "Good Cause" shall mean:
Termination for Good Cause. During the Initial Term or a Renewal Term, a party (the “Terminating Party”) may only terminate the Agreement against the other party (the “Non-Terminating Party”) for good cause. For purposes of this Agreement, “good cause” shall mean:
Termination for Good Cause. As used herein “Good Cause” shall mean any one or more of the following as determined in the reasonable discretion of the Company:
Termination for Good Cause. During the Employment Term, the Company may terminate the Executive's employment for Good Cause. In the absence of cure by the Executive as per Section 2(d), if applicable, termination by the Company for Good Cause shall be retroactive to the date the Company provides notice to the Executive of the Good Cause Event.
Termination for Good Cause. The Company may terminate Executive's employment at any time for "Good Cause," as herein defined. For the purposes of this Agreement, "Good Cause" includes, but is not limited to, gross misconduct, gross neglect of duties, acts involving moral turpitude, material breach by Executive of this Agreement or the Confidentiality Agreement or any act or omission involving fraud, embezzlement, or misappropriation of any property or proprietary information of the Company by Executive which is not cured by Executive within fifteen (15) days after receipt of written notice from the Company.
Termination for Good Cause. (i) The Company may, upon action of the Board in accordance with Section 5(d)(iii) hereof, terminate the employment of the Executive (and the Employment Period) at any time for “Good Cause” (as defined below).
(ii) For purposes of this Agreement, “Good Cause” means:
Termination for Good Cause. (1) The right of either contracting party to terminate the capacity contract with immediate effect for good cause shall remain unaffected.
(2) Examples of good cause for the transmission system operator are:
(a) severe breach of contract by the system user;
(b) institution of bankruptcy proceedings against the assets of the system user or non-institution of insolvency proceedings for lack of assets to cover costs. In these cases, the transmission system operator shall be entitled to hold itself harmless by claiming the security deposit.
Termination for Good Cause. Executive's employment hereunder may be terminated by the Company for "good cause." The term "good cause" is defined as any one or more of the following occurrences: