Termination for Breach by Executive Sample Clauses
The 'Termination for Breach by Executive' clause allows an employer to end an executive's employment if the executive fails to meet certain contractual obligations or engages in misconduct. Typically, this clause outlines specific actions or failures—such as violating company policies, committing fraud, or neglecting duties—that would constitute a breach. Its core function is to provide the employer with a clear legal basis to terminate the executive's contract in response to serious wrongdoing, thereby protecting the organization from ongoing harm or liability.
Termination for Breach by Executive. (a) Executive shall be considered in breach of this Agreement, and the Agreement shall be subject to termination by the Company, in the following circumstances:
(i) Executive shall engage in willful misconduct in the performance of his duties hereunder; or
(ii) Conviction of Executive of any illegal act made or undertaken in carrying out his duties on behalf of the Company, any crime involving the property of the Company or any felony; or
(iii) If Executive shall die.
(b) In the event the Company elects to terminate this Agreement pursuant to Paragraph 6(a), the Company shall give a thirty (30) day written notice of termination to Executive setting out, in detail, the reasons for such termination. Upon the expiration of such thirty (30) day notice period, this Agreement shall be wholly terminated subject to the payment to Executive of any Compensation or other amounts owing as at the date of such termination. During such thirty (30) day notice period, Executive will not be entitled to receive any Compensation, to reimbursement of expenses or to administrative support as otherwise provided in Paragraph 3 hereof.
Termination for Breach by Executive