Contract Period Termination Sample Clauses

Contract Period Termination. The contract period is indefinite. If it is not terminated for that point in time or later with one year notice, it is renewed for an additional three years. Termination shall occur by registered letter or hand-delivery of a written termination notice. As for the remainder, the contract ends at the end of the month in which Xx. Xxxxxx Xxxxxx reaches the age of 65. Any renewal of the contract after that point in time shall be by mutual agreement between Xx. Xxxxxx Xxxxxx and the Employer’s shareholders. In case of termination by Xx. Xxxxxx Xxxxxx, the Company may forego, in whole or in part, any additional work by Xx. Xxxxxx Xxxxxx with the continued payment of his fixed remuneration (fixed salary and guaranteed management bonus) until the end of the notice period. If the company foregoes any of Xx. Xxxxxx Xxxxxx’ services, his entire remuneration from new employment shall be credited against the remuneration thus far. In the event that Xx. Xxxxxx Xxxxxx is temporarily prevented from fulfilling his responsibilities as Managing director due to illness, or for other reasons, for which he is not responsible, Xx. Xxxxxx Xxxxxx shall receive the fixed remuneration (fixed salary and guaranteed management bonus) for a period of 6 months, however, not for longer than the contract period. After the 6 months, the shareholders shall make a decision regarding continued payment of the remuneration, if applicable. In case of death, his widow, Xxx. Xxxxx Xxxxxx, shall receive the fixed remuneration (fixed salary and guaranteed managed bonus) for 3 months, however, not beyond the contract duration. The continued payment of remuneration begins after the end of the month, in which the death occurred.
Sample 1
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Contract Period Termination. The contract period is indefinite. It may be terminated at the end of each calendar year by giving one year’s notice. Termination must occur by registered letter or hand-delivery of a written notice. Otherwise the contract terminates at the end of the month in which Xx. Xxxxxx reaches the age of 65. Any potential extension of the contract beyond that point in time shall be by mutual agreement between Xx. Xxxxxx and the Employer’s shareholders. In case of termination by Xx. Xxxxxx, the company may forego, in whole or in part, any additional work by Xx. Xxxxxx with the continued payment of his fixed remuneration (fixed salary and guaranteed profit share) until the end of the termination period. If the company foregoes Xx. Xxxxxx’x services, his entire remuneration from his new employment shall be deducted from the remuneration thus far. In the event that Xx. Xxxxxx is temporarily prevented from fulfilling his responsibilities as Managing director due to illness or for other reasons beyond his control, Xx. Xxxxxx shall receive the fixed remuneration (fixed salary and guaranteed profit share) for a period of 6 months, but not exceeding the contract period. After the 6 months, the supervisory board shall make a decision regarding continued payment, if need be. In case of death, his widow, Xxx. Xxxxxxxxx Xxxxxx, xxx Xxxx, shall receive the fixed remuneration (fixed salary and prorated guaranteed profit share) for 3 months, however, not for longer than the contract duration. The continued payment of the remuneration shall begin after the end of the month, in which the death occurred.
Sample 1
Contract Period Termination 
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Related to Contract Period Termination

  • Effective Period Termination This Agreement shall become effective as of the date of its execution and shall continue in full force and effect until terminated as hereinafter provided. This Agreement may be terminated by each Investment Company, on behalf of a Fund, or by the Custodian by 90 days notice in Writing to the other provided that any termination by an Investment Company shall be authorized by a resolution of the Board, a certified copy of which shall accompany such notice of termination, and provided further, that such resolution shall specify the names of the persons to whom the Custodian shall deliver the assets of the affected Funds held by the Custodian. If notice of termination is given by the Custodian, the affected Investment Companies shall, within 90 days following the giving of such notice, deliver to the Custodian a certified copy of a resolution of the Boards specifying the names of the persons to whom the Custodian shall deliver assets of the affected Funds held by the Custodian. In either case the Custodian will deliver such assets to the persons so specified, after deducting therefrom any amounts which the Custodian determines to be owed to it hereunder (including all costs and expenses of delivery or transfer of Fund assets to the persons so specified). If within 90 days following the giving of a notice of termination by the Custodian, the Custodian does not receive from the affected Investment Companies certified copies of resolutions of the Boards specifying the names of the persons to whom the Custodian shall deliver the assets of the Funds held by the Custodian, the Custodian, at its election, may deliver such assets to a bank or trust company doing business in the State of California to be held and disposed of pursuant to the provisions of this Agreement or may continue to hold such assets until a certified copy of one or more resolutions as aforesaid is delivered to the Custodian. The obligations of the parties hereto regarding the use of reasonable care, indemnities and payment of fees and expenses shall survive the termination of this Agreement.

  • Early Termination of the Employment Period Notwithstanding Section 1(b) hereof, the Employment Period shall end upon the earliest to occur of (i) a Termination For Cause, (ii) a Termination Without Cause, (iii) a Voluntary Termination, (iv) a Termination Due to Retirement, (v) a Termination Due to Disability, or (vi) a Termination Due to Death.

  • CONTRACT TERMINATION This Contract will terminate:

  • Term Termination 8.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.

  • Normal Termination Date Unless earlier terminated pursuant to Section 3(b) or Section 5, the Options shall terminate on the tenth anniversary of the Grant Date (the “Normal Termination Date”), if not exercised prior to such date.

  • Final Termination Unless terminated at an earlier date by mutual agreement of the parties hereto, this Agreement shall terminate upon the first to occur of the following: (a) the last Serviced Appointment is terminated, matured or expired under the terms of the applicable Serviced Corporate Trust Contract and all Trust Assets in respect thereof have been fully distributed, (b) the last Serviced Appointment is Transferred to the applicable Purchaser, (c) the applicable Seller has resigned from the last Serviced Appointment if permitted under Section 7.2 below or (d) the applicable Seller is removed from appointment or the applicable Seller’s appointment is terminated with respect to the last Serviced Appointment in accordance with this Agreement, the applicable Serviced Corporate Trust Contract or any other agreement between the parties hereto entered into on or prior to the date hereof. Upon termination of this Agreement in accordance with this Section 7.1, each party’s further rights and obligations hereunder, other than the provisions of Section 8 and Section 9, shall terminate and be of no further force and effect and no party shall have any liability hereunder, except that neither the Sellers nor the Purchasers shall be relieved or released from any liabilities or damages arising out of its breach of any provision of this Agreement prior to termination.

  • Employment Termination Date The Employment Termination Date shall be as follows: (i) if the Executive’s employment is terminated by Executive’s death, the date of Executive’s death; (ii) if the Executive’s employment is terminated pursuant to any other provision of this Agreement, the date specified in the Notice of Termination (the “Employment Termination Date”).

  • Agreement Termination This Agreement will be in effect for an indefinite period and may be terminated as to new reinsurance at any time by either party giving ninety (90) days written notice of termination. The day the notice is mailed to the other party's home office, or, if the mail is not used, the day it is delivered to the other party's home office or to an officer of the other party will be the first day of the ninety (90) day period. During the ninety (90) day period, this Agreement will continue to operate in accordance with its terms.

  • Scheduled Termination Unless previously terminated, the Commitments shall terminate on the Commitment Termination Date.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

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