Common use of Termination with Termination Fee Clause in Contracts

Termination with Termination Fee. In addition to the rights of Producer to terminate this Agreement without payment of fees pursuant to Section 5(b)(i), Producer may terminate this Agreement by provision of written notice of termination to Editor if Producer is not satisfied with the final edited recording of the Audiobook, subject to payment of a termination fee equal to 50% of the cost of Editor’s Services based on the per-hourly fee set forth in Section 4, provided that if Producer uses more than 50% of the finished audio edited by Editor in the Audiobook, Producer must pay Editor the full amount for Editor’s

Termination with Termination Fee. In addition to the rights of Producer to terminate this Agreement without payment of fees pursuant to Section 5(b)(i), Producer may terminate this Agreement by provision of written notice of termination to Editor if Producer is not satisfied with the final edited recording of the Audiobook, subject to payment of a termination fee equal to 50% of the cost of Editor’s Editor‟s Services based on the per-per hourly fee set forth in Section 4, provided that if Producer uses more than 50% of the finished audio edited by Editor in the Audiobook, Producer must pay Editor the full amount for Editor’sEditor‟s Services performed under this Agreement, based on the per hourly fee set forth in Section 4.