Example ContractsClausesTerm; Termination
Term; Termination
Term; Termination contract clause examples

Term; Termination. Your employment shall continue until the Company’s annual shareholders’ meeting in 2022 and shall be extended by mutual agreement of the Board and you for successive periods thereafter between each of the Company’s annual shareholders’ meetings (the period of actual employment, the “Term”). The Term, and your employment hereunder, may be terminated at any time: # by you, for any or no reason, on thirty (30) days’ prior written notice to the Company (which the Company may, in its sole discretion, make effective as a resignation earlier than the termination date provided in such notice), # by the Company, at any time with or without cause by written notice to you, at the election of the Board, and # by the Company, at any time with or without cause by written notice to you, due to your failure to be re-elected as a member of the Board by the Company’s shareholders. If either you or the Company provides notice of termination pursuant to either the [foregoing clause (i)] or [clause (ii)], by signing this letter agreement you hereby offer your resignation as a member of the Board effective concurrent with the termination of the Term, which resignation may or may not be accepted by the Board in its sole discretion.

Term; Termination. This Advisory Agreement shall continue in force and effect until December 31, 2019 and is renewable annually thereafter by the Trust, if a majority of the Independent Trustees determines that the Advisor’s performance has been satisfactory.

Term & Termination. The term of this Agreement will commence on January 4, 2021 (“Start Date”) and complete on January 3, 2022, or completion of the committed 720 hours of services, unless extended by mutual written agreement of the parties or earlier terminated in accordance with this Section 13 (the “Term”). Notwithstanding the foregoing, the Company may terminate this Agreement, for any or no reason, on at least ten (10) days’ prior notice, and the Company may terminate this Agreement for “Cause” immediately upon notice. For purposes of this Agreement, a termination shall be for Cause if any one or more of the following has occurred:

Term; Termination. This Advisory Agreement shall continue in force and effect until December 31, 2019 and is renewable annually thereafter by the Trust, if a majority of the Independent Trustees determines that the Advisor’s performance has been satisfactory.

TERM; TERMINATION. Employee’s employment under this Agreement will commence on March 31, 2020 (the “Start Date”) and will continue until terminated by either party. Employee’s employment with the Company is at-will, and either party can terminate the employment relationship and/or this Agreement at any time, for any or no cause or reason, and with or without prior notice, subject to the applicable terms of Section 4. Upon termination of Employee’s employment by either party for any reason, Employee will resign Employee’s position(s), if any, as an officer or director of the Company, as a member of the Company’s Board of Directors (the “Board”) and any Board committees, as well as any other positions Employee may hold with or for the benefit of the Company and/or its affiliates.

Term; Termination. The term of this Agreement shall commence on the Effective Date and shall continue until the earliest to occur of # thirty (30) days prior to the deadline under the Bylaws for submission of director nominations and stockholder proposals for the 2022 Annual Meeting, # one hundred ten (110) days prior to the first anniversary of the 2021 Annual Meeting and # the consummation of a Change of Control transaction agreed to by the Board and involving the Company (such date, the “Termination Date”); provided, however, # the Radoff Parties may earlier terminate this Agreement if the Company commits a material breach of its obligations under this Agreement that (if capable of being cured) is not cured within fifteen (15) days after receipt by the Company from a Radoff Party specifying the material breach, or, if impossible to cure within fifteen (15) days, that the Company has not taken any substantive action to cure within such fifteen (15)-day period, and # the Company may earlier terminate this Agreement if any of the Radoff Parties commits a material breach of this Agreement that (if capable of being cured) is not cured within fifteen (15) days after receipt by such Radoff Party from the Company specifying the material breach, or, if impossible to cure within fifteen (15) days, that such Radoff Party has not taken any substantive action to cure within such fifteen (15)-day period. Notwithstanding the foregoing, the provisions of Section 10 through Section 22 shall survive the termination of this Agreement. Termination of this Agreement shall not relieve any Party from its responsibilities in respect of any breach of this Agreement prior to such termination.

TERM; TERMINATION. Employee’s employment under this Agreement will commence as of the Effective Date and will continue until terminated by either party. Employee’s employment with the Company is at-will, and either party can terminate the employment relationship and/or this Agreement at any time, for any or no cause or reason, and with or without prior notice, subject to the applicable terms of Section 4. Upon termination of Employee’s employment by either party for any reason, Employee will resign Employee’s position(s), if any, as an officer or director of the Company, as a member of the Company’s Board of Directors (the “Board”) and any Board committees, as well as any other positions Employee may hold with or for the benefit of the Company and/or its affiliates.

Term; Termination. Unless otherwise mutually agreed in writing by Wrap or the Norris Parties, the term of this Agreement shall commence on the Effective Date and shall continue until the date (the “Termination Date”) that is the earliest of # the tenth day (the “Final Replacement Date”) following the adjournment of the first applicable annual meeting of Wrap’s stockholders, which follows the 2021 Annual Meeting, at which the New Directors (or any Replacement) were not successfully re-elected at such meeting and no subsequent Replacements were appointed by the Board by the Final Replacement Date, # the New Directors (or any Replacement) fail to be re-nominated for election to the Board at any annual or special meeting of Wrap’s stockholders (including any adjournment postponement, rescheduling or continuation thereof) at which such New Directors (or such Replacement) are up for election, and # the consummation of an Extraordinary Transaction.

Term; Termination. Your employment shall continue until the Company’s annual shareholders’ meeting in 2019 and shall be extended by mutual agreement of the Board and you for successive periods thereafter between each of the Company’s annual shareholders meeting (the period of actual employment, the “Term”). The Term, and your employment hereunder, may be terminated at any time: # by you for any or no reason, on 30 days’ prior written notice to the Company (which the Company may, in its sole discretion, make effective as a resignation earlier than the termination date provided in such notice), # by the Company, at any time with or without cause by written notice to you, at the election of the Board, and # by the Company, at any time with or without cause by written notice to you, due to your failure to be re-elected as a member of the Board by the Company’s shareholders. If either you or the Company provide notice of termination pursuant to either the [foregoing clause (a)] or [clause (b)], by signing this letter agreement you hereby offer your resignation as a member of the Board effective concurrent with the termination of the Term, which resignation may or may not be accepted by the Board in its sole discretion.

Term & Termination. The term of this Agreement shall be the twelve (12) month period commencing on August 2, 2018, unless earlier terminated in accordance with this Agreement or extended by mutual written agreement (the “Term”). This Agreement may be terminated prior to its expiration in the following manner: # by Voyager at any time immediately upon written notice to Consultant if Consultant has materially breached this Agreement, the Retirement Agreement dated June 28, 2018 between Consultant and the Company (the “Retirement Agreement”), or the Restrictive Covenants Agreement referenced in the Retirement Agreement; # by Consultant at any time immediately upon written notice if Voyager has materially breached this Agreement or the Retirement Agreement; # by either party at any time, for any reason or no reason, upon not less than forty-five (45) days prior written notice to the other party; # at any time upon the mutual written consent of both parties; or # automatically upon the death, physical incapacitation or mental incompetence of Consultant. Any expiration or termination of this Agreement shall be without prejudice to any obligation of either party that has accrued prior to the effective date of expiration or termination. Upon expiration or termination of this Agreement, neither Consultant nor Voyager will have any further obligations under this Agreement, except that # Consultant will terminate all Services in progress in an orderly manner as soon as practicable and in accordance with a schedule agreed to by Voyager, unless Voyager specifies in the notice of termination that Services in progress should be completed; # Consultant will deliver to Voyager all Work Product (defined below) made through expiration or termination; # Voyager will pay Consultant any monies due and owing Consultant, up to the time of termination or expiration, for Services properly performed and all authorized expenses actually incurred; # Consultant will immediately return to Voyager all Voyager Property (defined below) and other Confidential Information (defined below) and copies thereof provided to Consultant under this Agreement; and # the terms, conditions and obligations under [Sections 2 and 4 through 14] will survive expiration or termination of this Agreement.

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