Example ContractsClausesforfeiture upon termination as a service providerVariants
Forfeiture Upon Termination as a Service Provider
Forfeiture Upon Termination as a Service Provider contract clause examples

Owners, in their sole discretion, shall have the right to terminate this Agreement without cause by providing written notice to Service Provider at least thirty (30) days in advance of the date of termination or other minimally necessary time period such that Service Provider complies with federal and state notice requirements (e.g., WARN Act) as measured from the date of written notice of termination. In the event of such a termination, Service Provider shall be compensated in accordance with the terms of [Section 20.3]. In no event shall termination costs include such costs as loss of anticipated profit.

Owners, in their sole discretion, shall have the right to reduce or terminate certain Services or portions thereof at any time for their convenience by providing written notice to Service Provider at least fifteen (15) days in advance of the date of termination or other minimally necessary time period required to comply with the WARN Act, as measured from the date of written notice of termination, with respect to employees who are not performing Secondment Services. Following such notice period, Service Provider shall require its employees and subcontractors to cease work thereon, except to the extent otherwise required by the notice itself or by industry safety practices or applicable law, rules or regulations. Owners shall be obligated to pay amounts due, in accordance with Exhibit C (Rates and Invoicing) herein, for Services performed prior to Owners’ reduction notice and for any Recoverable Costs associated with such reduction or termination.

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