Common use of Termination of Letter Agreement Clause in Contracts

Termination of Letter Agreement. If GroupMAC does not complete the Proposed Transactions by March 31, 2000, then this letter agreement, including, without limitation, the Waivers, will automatically terminate without any action on the part of GroupMAC or you, and the Employment Agreement will remain in full force and effect as if this letter agreement had not been executed by you or GroupMAC.