Voluntary or Mutual Termination Clause Samples
The Voluntary or Mutual Termination clause allows both parties to end their contractual relationship by mutual agreement, rather than waiting for the contract to expire or for a breach to occur. Typically, this clause outlines the process for initiating termination, such as requiring written notice and specifying any obligations that must be fulfilled before the contract is officially terminated. Its core function is to provide flexibility, enabling parties to exit the agreement amicably if circumstances change or if continuing the relationship is no longer beneficial to either side.
Voluntary or Mutual Termination. (a) Executive may voluntarily terminate his employment with the Company at any time, after which no further compensation will be paid to Executive.
(b) In the event Executive voluntarily terminates his employment other than for “Good Reason,” he will not be entitled to severance pay, pay in lieu of notice or any other such compensation.
Voluntary or Mutual Termination. (a) Executive may voluntarily terminate his employment in writing with the Company at any time, after which no further compensation will be paid to Executive.
(b) In the event Executive voluntarily terminates his employment, Executive shall not be entitled to severance pay, pay in lieu of notice or any other such compensation; provided, however, Executive shall be entitled and shall receive all compensation earned prior to and including the date of termination.
Voluntary or Mutual Termination. In the event Executive terminates Executive’s employment other than for Good Reason, or in the event that Executive’s employment terminates at the parties’ mutual agreement, Executive will be entitled to payment of all accrued salary and accrued and unused vacation, but Executive will not be entitled to Severance Benefits, pay in lieu of notice, or any other such compensation unless required by law.
Voluntary or Mutual Termination. (a) Executive may voluntarily terminate his employment with the Company, for any reason, sixty (60) days after giving written notice to the Company.
(b) In the event Executive voluntarily terminates his employment without Good Reason, he will not be entitled to severance pay, pay in lieu of notice or any other compensation or benefits from the Company whatsoever.
Voluntary or Mutual Termination. 3.4.1. Executive may voluntarily terminate his employment with Company at any time after which, other than the Accrued Obligations, no further compensation will be paid to Executive.
3.4.2. In the event Executive voluntarily terminates his employment, other than the Accrued Obligations, he will not be entitled to, pay in lieu of notice, Severance Pay, or any other such compensation.
Voluntary or Mutual Termination. Executive may voluntarily terminate his employment with the Company at any time by giving notice as described in Section 6.7.
Voluntary or Mutual Termination. (a) You may voluntarily terminate your employment with the Company at any time without Good Reason, and in such event you will be entitled only to compensation and benefits for the period preceding the date of such termination.
(b) You and the Company may mutually agree in writing to the termination of your employment at any time, and in such event you will be entitled to such compensation and benefits as may be mutually agreed with the Company at that time.
Voluntary or Mutual Termination. (A) Narath may voluntarily terminate his employment with the Company at any time upon tendering thirty (30) days prior written notice to the Company, after which no further compensation will be paid to Narath.
(B) In the event Narath voluntarily terminates his employment, he will not be entitled to severance pay, pay in lieu of notice or any other such compensation (including any amounts described in Section 2 hereof).
Voluntary or Mutual Termination. (a) Executive may voluntarily terminate his employment with the Company at any time, after which no further compensation will be paid to Executive.
(b) In the event Executive voluntarily terminates his employment, he will not be entitled to severance pay, pay in lieu of notice or any other such compensation, provided, however, that if within one year of the Employment Date, Executive resigns from employment solely due to a relocation of Executive's primary work location to a location which is greater than fifty (50) miles from his current work location, he shall be entitled to receive the severance compensation set forth in Paragraph 5.1(b) herein.
Voluntary or Mutual Termination. (a) Executive may voluntarily terminate his employment with the Company at any time, after which no further compensation will be paid to Executive. In order to allow the Company time to hire a replacement, Executive shall give the Company at least six months written notice of his resignation. The Company may elect to terminate Executive's employment at any time before the end of such notice period, provided that severance compensation equal to Executive's then current base salary shall be paid during any portion of the such notice period remaining after any such accelerated employment termination date.
(b) In the event Executive voluntarily terminates his employment, he will not be entitled to severance pay, pay in lieu of notice or any other such compensation.