Termination of the Service Relationship Clause Samples

Termination of the Service Relationship. The SERVICE RELATIONSHIP shall end upon termination by registered letter. A notice period of one month to the end of a month is agreed. The rights and obligations shall continue to apply after termination of this AGREEMENT.

Termination of the Service Relationship. 1. The Parties agree that the Service Agreement and Executive’s resulting Service Relationship will terminate upon the Termination Date. The Parties further agree that the Prior Service Agreement was previously superseded and is of no force or effect. 2. Except as otherwise provided in this Separation Agreement, the Parties also agree that as of the end of the Termination Date there are no other contractual relationships between them (managing director/executive agreement or employment relationships). 3. Executive undertakes to resign from all offices as legal representative, director or governing body of the Company and Affiliated Companies with effect from the end of the Termination Date and, upon the Company’s request, Executive undertakes to cooperate fully with all formalities connected to the resignation(s) and thus take all actions and make and receive all declarations required for the correction of public registers (e.g., including the Dutch and the German commercial registers). 4. Notwithstanding anything to the contrary in this Separation Agreement, any post-contractual obligations of Executive arising from Article 5 (Non Competition / Non Solicitation) and Article 8 (Confidentiality Clause) of the Service Agreement remain unaffected and shall continue also after the Termination Date, except that (i) the noncompetition limitation in Article 5, clause 1 of the Service Agreement (the "Non-Compete”) shall only last until the date five (5) months following the Termination Date, which is the length of the Severance Term (as defined below), and (ii) with respect solely to non-operational Board opportunities that may be of interest to Executive and which might otherwise fall into the scope of the Non-Compete, the Company agrees to not unreasonably withhold its consent for Executive to enter into such an opportunity. 5. The Company will end the liability insurance in connection with the performance of the services by Executive as per the Termination Date.

Termination of the Service Relationship