Common use of Payment in lieu of notice Clause in Contracts

Payment in lieu of notice. The Employer may, at any time in its absolute discretion elect to terminate the Employment and this Agreement with immediate effect by summary written notice to the Executive by paying to the Executive, in lieu of the notice period referred to in Clause 1.3 or any part thereof, an amount equivalent to the basic salary for such period or part period. Such payment may either be made in accordance with Clause 11.7 or, in the Employer’s absolute discretion, in a lump sum for the outstanding basic salary in lieu of notice. Such a payment or payments shall be subject to such deductions for tax and national insurance as are required by law and to any other authorised deductions.