TPTX » Topics » 4.1.2 Termination by the Company For Cause

These excerpts taken from the TPTX 8-K filed Dec 20, 2006.
4.1.2       Termination by the Company For Cause.  The Company may terminate the Executive’s employment under this Agreement for Cause (as defined below). A notice of termination given pursuant to this Section 4.1.2 shall effect termination as of the date specified, or, in the event no such date is specified, on the date upon which the notice is given.

4.1.2       Termination by the Company For Cause.  The Company may terminate the Executive’s employment under this Agreement for Cause (as defined below). A notice of termination given pursuant to this Section 4.1.2 shall effect termination as of the date specified, or, in the event no such date is specified, on the date upon which the notice is given.

4.1.2   Termination by the Company For Cause.  The Company may terminate the Executive’s employment under this Agreement for Cause (as defined below). A notice of termination given pursuant to this Section 4.1.2 shall effect termination as of the date specified, or, in the event no such date is specified, on the date upon which the notice is given.

This excerpt taken from the TPTX 8-K filed Oct 10, 2006.
9.4          Termination for Cause. Each party shall have the right to terminate this Agreement upon sixty (60) days’ written notice to the other upon the occurrence of any of the following:

 

(a)           Upon or after bankruptcy, insolvency, dissolution or winding up or assignment for the benefit of creditors of the other party (other than a dissolution or winding up for the purpose of reconstruction or amalgamation) or a petition is filed for any of the foregoing and is not removed within ninety (90) days; or

 

(b)           Upon or after the breach of any material provision of this Agreement by the other party, including, with respect to Neurogenetics, its Affiliates, (other than as provided in Section 9.3) if the breaching party has not cured such breach within the sixty (60) day period following written notice of termination by the non-breaching party.

 

Notwithstanding anything in this Section 9. 4 to the contrary, to the extent Neurogenetics reasonably and in good faith disagrees with any assertion by LSRI that there has been a material breach or material default of this Agreement by Neurogenetics, and Neurogenetics provides written notice to LSRI of its disagreement and the basis for its belief within fifteen (15) days after Neurogenetics receives notice from LSRI of a breach under this Section 9.4, this Agreement will remain in effect and any termination of this Agreement under Section 9.4 will be suspended pending resolution of such disagreement between the parties. The parties will attempt to resolve such disagreement as expeditiously as possible and Neurogenetics will continue to comply with the provisions of this Agreement, including the payment provisions, to the extent that they are not the subject of the disagreement between the parties.

 

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