Common use of Termination Terms Clause in Contracts

Termination Terms. The COMPANY may terminative this Agreement at any time for any reason upon payment to the EMPLOYEE of any outstanding accrued amounts owed the EMPLOYEE.

Appears in 1 contract

Sources: Employment Agreement (Implantable Vision, Inc.)

Termination Terms. The COMPANY may terminative this Agreement at any time for any reason upon payment to the EMPLOYEE of any outstanding accrued amounts owed the EMPLOYEE.EMPLOYEE plus the balance of compensation due to the End Date as defined by this Agreement. The COMPANY may also terminate the EMPLOYEE for cause upon delivering to him a written notice specifying such cause. If the COMPANY exercises such right, the COMPANY shall be obligated to pay the EMPLOYEE any outstanding accrued amounts owed the EMPLOYEE at the time of termination. As used herein, the term "cause" shall mean:

Appears in 1 contract

Sources: Employment Agreement (Implantable Vision, Inc.)