TERM AND APPOINTMENT. 2.1 The Company shall engage the Executive and the Executive shall serve the Company as an employee and director as hereinafter provided (the "APPOINTMENT").
2.2 The Appointment shall commence on the Commencement date and shall be for a fixed term of 4 years from the Commencement Date (`THE FIXED TERM'). Either party may terminate the Agreement after expiry of the Fixed Term by giving to the other 6 months' notice of termination (`THE NOTICE PERIOD'), such notice not to be given before the expiry of the Fixed Term.
2.3 The parties have agreed that the Executive shall be entitled to payment of the liquidated damages ("THE LIQUIDATED DAMAGES") specified in clause 2.5 in the following circumstances:
(a) If the Executive terminates the Agreement during the Fixed Term in response to and as a result of a fundamental breach by the Company of this Agreement; and/or
(b) If the Company terminates the Agreement before the expiry of the Fixed Term otherwise than in circumstances which would warrant a summary termination under Clause 13.
2.4 The parties agree that the Executive is unlikely to terminate the Agreement during the Fixed Term save in the circumstances set out in clause 2.3(a) above. With a view to avoiding the time and cost involved in litigation, the parties have agreed the following Liquidated Damages and that such Liquidated Damages represent a genuine pre-estimate of the loss which the Executive would suffer if the Appointment is terminated in the circumstances set out in clause 2.3 a-b above. The parties further agree that the Executive is not obliged to mitigate his loss or bring into account any earnings following termination of the Agreement under this clause. The payment of Liquidated Damages under this clause shall be in full and final settlement of all or any claims that the Executive may have arising out of this Appointment or its termination in the circumstances set out in clause 2.3 a-b above.
2.5 The Company shall pay the Liquidated Damages to the Executive within 14 days of the effective date of termination ("THE TERMINATION DATE"). The Liquidated Damages shall be a sum representing the Salary (including reasonable annual increments) and the value of all contractual benefits, which would have been payable or provided by the Company to the Executive between the Termination Date and the first date on which the Company could lawfully have terminated the Appointment pursuant to clause 2.2.
2.6 The parties agree that in calculating the Liquidated...
TERM AND APPOINTMENT. 2.1. The Company shall engage the Executive and the Executive shall serve the Company as hereinafter provided (the “Appointment”). The Appointment shall commence on 1 March 2002 (or earlier if possible) and shall subject to Clauses 19 and 20 below continue unless and until terminated by either party giving to the other (i) not less than 12 months previous notice in writing; or (ii) if shorter, written notice which is equal to the period of time from the date upon which notice is given to the Executives’ 65th birthday.
2.2. Where notice is served to terminate the Appointment, whether by the Company or the Executive, the Company in its absolute discretion shall be entitled to terminate the Appointment forthwith by paying to the Executive salary alone as set out in Clause 7 in lieu of any required 1 period of notice (less any deductions the Company is required to make). A payment made under this clause will be in full and final settlement of any and all claims under this Agreement.
2.3. Where notice is served to terminate the Appointment whether by the Company or the Executive, the Company in its absolute discretion shall be entitled to require the Executive to comply with any of the provisions in Clause 5 below.
2.4. The Appointment shall automatically cease on the Executive’s 65th birthday.
TERM AND APPOINTMENT. 2.1 The Company shall engage the Executive and the Executive shall serve the Company as hereinafter provided. The Appointment shall be deemed to have commenced on 1 November 2000 and shall continue subject as hereinafter mentioned unless and until terminated by either party giving to the other not less than 12 months' previous notice but not in any event so as to extend beyond the Executive's 60th birthday.
2.2 The Executive agrees that, subject to clauses 2.3 and 2.4 below the Company, at its absolute discretion, may terminate the Executive's employment hereunder forthwith by payment to the Executive in lieu of the notice period or the balance thereof if notice pursuant to Clause 2.1 has previously been given (such notice period or balance being referred to in this Clause 2.2 as the "Compensation Period"), a termination payment ("the Termination Payment") equal to:
(a) the salary (at the rate applicable at the date of termination of employment) to which the Executive would have been entitled during the Compensation Period; and
(b) a sum equal to: Where "A" is the cost to the Company of providing the other contractual benefits to the Executive under this Agreement in the 12 months immediately preceding the Compensation Period; and
TERM AND APPOINTMENT. 2.1 The Company hereby confirms the appointment of the Executive and the Executive shall continue to serve the Company as Finance Director as provided in this Agreement. This Agreement and the Appointment shall commence on the Commencement Date and shall continue (subject as provided herein) unless and until either party gives to the other written notice in accordance with Clause 2.2 below Provided Always that this Agreement and the Appointment hereunder shall in any event terminate automatically on the Executive’s sixty-second (62nd) birthday without either party having to give written notice to effect termination on such date.
2.2 For the purposes of Clause 2.1 above the requisite notice periods to be given by the respective parties are:
2.2.1 on the part of the Executive, not less than six months’ written notice of termination to the Company;
2.2.2 on the part of the Company, not less than twelve months’ written notice of termination to the Executive.
TERM AND APPOINTMENT. 2.1 The Company shall employ the Executive and the Executive shall serve the SBS Group as Executive Chairman of the SBS Group (the " Appointment"). The Appointment will begin on the Commencement Date and shall continue (subject to earlier termination as provided for herein) for a fixed term of 3 years expiring on 31 August 2007 and thereafter on such terms and conditions as may be agreed.
2.2 The Executive warrants that by entering into this Agreement he will not be in breach of any agreements with or obligations owed to any third parties.
TERM AND APPOINTMENT. 1Term This Agreement commences on the Commencement Date and expires on the Expiry Date unless terminated earlier by either party in accordance with clause 24 (Termination).
TERM AND APPOINTMENT. 2.1 According to the terms of this Agreement, the Employee shall be appointed as the [_____________________] of the Company.
2.2 Subject to clause 10, the Employment shall commence as of the date hereof and shall continue for a period of [three] ([3]) years from such date unless or until terminated by either party according to clause 9.
2.3 The Executive will be responsible for his own income tax payable to relevant federal and state authorities in the United States Employee shall be responsible for and bear his own income tax by himself according to applicable law, authorities and jurisdictions and Employee shall be responsible to properly report his personal income tax to his country, place of residency, and any other authority as required by applicable law. Notwithstanding the Employee’s reporting and payment obligations with respect to income taxes, Employee agrees that the Company or Group Company is entitled, at its election, to withhold the tax according to applicable law. Employee agrees that it shall indemnify the Company for any income taxes and related cost and expenses that Company is forced to pay on the behalf of Employee where such amounts exceed what was withheld by the Company from Employee’s income.
TERM AND APPOINTMENT. 2.1 Subject to completion of Listing by 31st August 1997 (the "Condition") the Company shall engage the Executive and the Executive shall serve the Company as hereinafter provided (the "Appointment"). The Appointment shall commence on the date of Listing and shall continue subject as hereinafter mentioned unless and until terminated by either party giving to the other not less than 12 months' previous notice in but not in any event so as to extend beyond the Executive's 60th birthday.
2.2 Where notice is served to terminate the Appointment whether by the Company or the Executive, the Company shall be entitled to terminate the Appointment forthwith and in full and final satisfaction of the Executive's claims under this agreement by paying to the Executive a payment in lieu of notice, which shall be calculated with regard to the unexpired period of notice.
2.3 In the event that the Condition is not satisfied this Agreement shall immediately lapse and be of no effect.
TERM AND APPOINTMENT. The term of this Agreement, is a fixed term of three (3) years commencing on July 15, 2000, and ending on July 14, 2003, whereupon this Agreement shall automatically renew in its entirety, save and except the level of compensation, from year to year thereafter on the anniversary of July 15, unless otherwise terminated pursuant to the terms contained herein. The parties agree that any compensation payable during the renewal period shall be negotiated by the parties, but in any event shall not be less than the compensation level payable as of July 14, 2003, plus the Cost of Living Index. Duties and Responsibilities of the Consultant:
TERM AND APPOINTMENT. 2.1 This Agreement shall have effect from the date of signature and shall continue for four (4) years.
