Common use of Termination Notice and Procedure Clause in Contracts

Termination Notice and Procedure. Any termination by the Company, or by the Executive, of the Executive's employment during the Employment Period shall be communicated by written Notice of Termination to the Executive if such Notice is delivered by the Company if such Notice is delivered by the Executive, all in accordance with the following procedures: (a) The Notice of Termination shall indicate the specific termination provision in this Agreement relied upon and shall set forth the reasonable detail the facts and circumstances alleged to provide a basis for termination. (b) Any Notice of Termination by the Company shall be approved by a resolution duly adopted by 75% of the directors of such entity (or any successor corporation) then in office, specifying in detail the basis for such termination. (c) Except as provided in Section 10 hereof with respect to termination of employment due to disability, the Executive shall have 60 days or such longer period as the Company may determine to be appropriate, to cure any conduct or act, if curable, alleged to provide grounds for termination of the Executive's employment under this Agreement.