Common use of Payment in Lieu of Notice Clause in Contracts

Payment in Lieu of Notice. The Company may, at its absolute discretion, when terminating the Executive’s employment without Cause pursuant to Sections 4(a)(iv), elect to notify the Executive in writing that it is exercising its right to dismiss the Executive with immediate effect and that it will be making a payment to the Executive in lieu of notice. The Company’s payment in lieu of notice shall be equivalent to the Base Salary which would have been payable or have accrued during the Executive’s notice period.

Payment in Lieu of Notice. The Company may, at its absolute discretion, when terminating the Executive’s employment with or without Cause pursuant to Sections 4(a)(iv)Cause, elect to notify the Executive in writing that it is exercising its right to dismiss the Executive with immediate effect and that it will be making a payment to the Executive in lieu of notice. The Company’s payment in lieu of notice shall be equivalent to the Base Salary which would have been payable or have accrued during the Executive’s notice period.

Payment in Lieu of Notice. The Company may, at may elect in its absolute discretion, when terminating discretion to terminate the Executive’s 's employment without Cause pursuant to Sections 4(a)(iv), elect to notify the Executive in writing that it is exercising its right to dismiss the Executive with immediate effect and that it will be making a notice on payment to the Executive of an amount equal to the Executive's basic salary for the notice period (at the rate payable when the Company makes its election). The Executive will not be entitled to this payment if the Company does not elect to make a payment in lieu of notice. The Company’s payment in lieu of notice shall be equivalent to the Base Salary which would have been payable or have accrued during the Executive’s notice period.

Payment in Lieu of Notice. The Company may, at its absolute discretion, when terminating the Executive’s employment with or without Cause pursuant to Sections 4(a)(iv)Cause, elect to notify the Executive in writing that it is exercising its right to dismiss the Executive with immediate effect and that it will be making a payment to the Executive in lieu of notice. The Company’s payment in lieu of notice shall be equivalent to the Base Salary which would have been payable or have accrued during the Executive’s notice period.. ​

Payment in Lieu of Notice. The Company may, at reserves the right in its absolute discretion, when terminating the discretion to terminate Executive’s employment without Cause pursuant immediately either instead of or at any time after notice of termination is given by either party and to Sections 4(a)(iv), elect to notify the Executive in writing that it is exercising its right to dismiss the Executive with immediate effect and that it will be making make a payment to the Executive in lieu of notice. The For this purpose, pay in lieu of notice will be a sum equal to Executive’s base salary only that Executive would have received during the period of notice outstanding on the termination of Executive's employment. For the avoidance of doubt, the Company’s right to make a payment in lieu of notice shall be equivalent does not give Executive a right to the Base Salary which would have been payable or have accrued during the Executive’s notice period.receive such a payment in lieu of notice

Payment in Lieu of Notice. The Company may, at its absolute discretion, when terminating the Executive’s employment without Cause pursuant to Sections 4(a)(iv), elect to notify the Executive in writing that it is exercising its right to dismiss the Executive with immediate effect and that it will be making a payment to the Executive in lieu of notice. The 5 Company’s payment in lieu of notice shall be equivalent to the Base Salary which would have been payable or have accrued during the Executive’s notice period.

Payment in Lieu of Notice. The Company may, at its absolute discretion, when terminating the Executive’s employment without Cause pursuant to Sections 4(a)(iv6(a)(iv), elect to notify the Executive in writing that it is exercising its right to dismiss the Executive with immediate effect and that it will be making a payment to the Executive in lieu of notice. The Company’s payment in lieu of notice shall be equivalent to the Base Salary which would have been payable or have accrued during the Executive’s notice period.