Common use of Termination of Employment; Expiration of the Agreement Clause in Contracts

Termination of Employment; Expiration of the Agreement. (1) At any time after notice to terminate this Agreement has been served or received by the Company, the Company, without being deemed in breach of this Agreement or being deemed to be taken steps which would constitute grounds for a different kind of termination under this Agreement, may require the Executive to do the following during the applicable notice period concluding on the effective date of termination of employment under this Agreement: (i) work in a capacity consistent with the Executive’s then applicable position and status other than that in which the Executive is employed under this Agreement but without affecting the Executive’s fixed salary, including benefits; and (ii) remain away from work and, although the Executive will continue to receive the Executive’s salary and benefits provided for under this Agreement during such period, and the Company will not be obliged to provide the Executive with any work although the Company may, in its absolute discretion, assign to the Executive during this period, from time to time, such appropriate tasks or projects as may be carried out by the Executive away from the Company’s offices. (2) Upon termination of the Executive’s employment under this Agreement, the Executive shall do the following: (i) forthwith surrender to the Company, in good condition and working order (ordinary wear and tear excepted), all Company property in the Executive’s possession including, without limitation, all books, papers and other documents (of whatever nature and in whatever media) belonging to the Company or its subsidiary or associated company or relating to the business of the Company or its subsidiary or associated companies; (ii) if the Executive is a director of the Company or of any subsidiary or associated company, or if the Executive is an officer of any subsidiary or any associated company, and is so requested by the Company, resign as an officer or director, as the case may be, within forty-eight (48) hours of being so requested and, should the Executive fail to do so within forty-eight (48) hours of being so requested, the Executive irrevocably authorizes the Company to appoint an agent in the Executive’s name and on the Executive’s behalf to execute and deliver any documents and to take any and all actions reasonably deemed by the Company to be necessary or appropriate to give effect to such resignation(s) by the Executive; and (iii) immediately repay all outstanding debts or loans due to the Company and/or any subsidiary or associated company, the Company being expressly authorized, for purposes of clarity, to deduct the same from any wages or other payment due or which may become due to the Executive a sum in repayment of all or any part of any such debts or loans. (3) Termination of this Agreement as a consequence of the expiration of the Employment Period (whether at the end of the initial term or any renewal term) shall not constitute a termination by the Executive or by the Company, with or without cause, and Executive shall not be entitled to severance or other continuation benefits whatsoever (other than as may be required by law) where the Agreement expires by its own terms. If the Agreement expires at the end of the Initial Term or any Renewal Term after proper advance notice by either party of the Company’s or the Executive’s intent not to renew, the Agreement shall expire and Executive shall not be entitled to any Termination Compensation or severance of any kind, except as required by law.

Termination of Employment; Expiration of the Agreement. (1) At any time after notice to terminate this Agreement has been served or received by the Company, the Company, without being deemed in breach of this Agreement or being deemed to be taken steps which would constitute grounds for a different kind of termination under this Agreement, may require the Executive to do the following during the applicable notice period concluding on the effective date of termination of employment under this Agreement: (i) work in a capacity consistent with the Executive’s then applicable position and status other than that in which the Executive is employed under this Agreement but without affecting the Executive’s fixed salary, including benefits; andand/or (ii) remain away from work and, although the Executive will continue to receive the Executive’s salary and benefits provided for under this Agreement during such period, and the Company will not be obliged to provide the Executive with any work although the Company may, in its absolute discretion, assign to the Executive during this period, from time to time, such appropriate tasks or projects as may be carried out by the Executive away from the Company’s offices. (2) Upon termination of the Executive’s employment under this Agreement, the Executive shall do the following: (i) forthwith surrender to the Company, in good condition and working order (ordinary wear and tear excepted), all Company property in the Executive’s possession including, without limitation, all books, papers and other documents (of whatever nature and in whatever media) belonging to the Company or its subsidiary or associated company or relating to the business of the Company or its subsidiary or associated companies; (ii) if the Executive is a director of the Company or of any subsidiary or associated company, or if the Executive is an officer of any subsidiary or any associated company, and is so requested by the Company, resign as an officer or director, as the case may be, within forty-eight (48) hours of being so requested and, should the Executive fail to do so within forty-eight (48) hours of being so requested, the Executive irrevocably authorizes the Company to appoint an agent in the Executive’s name and on the Executive’s behalf to execute and deliver any documents and to take any and all actions reasonably deemed by the Company to be necessary or appropriate to give effect to such resignation(s) by the Executive; and (iii) immediately repay all outstanding debts or loans due to the Company and/or any subsidiary or associated company, the Company being expressly authorized, for purposes of clarity, to deduct the same from any wages or other payment due or which may become due to the Executive a sum in repayment of all or any part of any such debts or loans. (3) Termination of this Agreement as a consequence of the expiration of the Employment Period (whether at the end of the initial term or any renewal term) shall not constitute a termination by the Executive or by the Company, with or without cause, and Executive shall not be entitled to severance or other continuation benefits whatsoever (other than as may be required by law) where the Agreement expires by its own terms. If the Agreement expires at the end of the Initial Term or any Renewal Term after proper advance notice by either party of the Company’s or the Executive’s intent not to renew, the Agreement shall expire and Executive shall not be entitled to any Termination Compensation or severance of any kind, except as required by law.