Reduction In Scope Or Withdrawal Clause Samples
The "Reduction In Scope Or Withdrawal" clause allows one or both parties to decrease the extent of work or completely withdraw from certain obligations under a contract. In practice, this clause outlines the procedures and conditions under which a party can request to scale back or terminate specific deliverables, services, or project components, often requiring advance notice and possibly addressing compensation or cost adjustments. Its core function is to provide flexibility in contractual relationships, enabling parties to adapt to changing circumstances or needs without breaching the entire agreement.
Reduction In Scope Or Withdrawal. It is agreed that, in any case, the Company shall be entitled, at the time of termination of the employment agreement, either to reduce the scope or the duration of the period of application of the non-competition and non-solicitation covenant, or to waive the latter, provided however that it informs Grantee thereof by registered letter with return receipt requested no later than within three (3) days following the notification of the termination of the employment agreement and no later than ▇▇▇▇▇▇▇’s last day of effective work. In such an event, Grantee will receive from the Company an indemnity equal to one gross fixed monthly salary (as resulting at the date of termination).