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Termination clauses in employment agreements may be unenforceable if an employee's role has expanded significantly over time. To prevent this outcome employers should ensure their agreements anticipate job changes, and they should confirm the continued application of agreements as changes occur.
What is a severance agreement? A severance agreement is a contract that an employer may ask an employee to sign when they are terminated from a job. Severance pay is often offered in exchange for an employee's release of their claims against the employer.
Iowa law does not require that employers provide at will employees with any notice for termination, nor do they require that termination be for ?just? or ?good? cause. Termination of a contract employee, however, is typically governed by the language of the employment contract.
As with regular employees, an executive's employment may be terminated without cause at any time, so long as they are given proper notice or pay in lieu of notice. However, executives will almost always be entitled to more severance than the bare minimum notice provisions of the Employment Standards Act.
Termination for Cause shall include termination because of the Executive's personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, material breach of the Bank's Code of Ethics, material violation of the Sarbanes-Oxley requirements for officers of public companies that ...
A Standard Clause setting out the length of time a commercial agreement lasts and the rights of one or more parties to terminate the agreement early.
The Board may at its discretion terminate the CEO's duties as Chief Executive Officer. Such action shall require a majority of vote of the entire Board and become effective upon written notice to the CEO or at such later time as may be specified in said notice.
Termination clauses, also known as separation clauses, allow the parties to terminate an agreement without violating the contract by virtue of early termination and mutual termination. The parties can avoid a dispute by allowing the triggering of a termination clause for a previously agreed reason.