Common use of Termination for Poor Performance Clause in Contracts

Termination for Poor Performance. If the Board is dissatisfied with any aspect of the Chief Executive’s performance, the Board will discuss their concerns with the Chief Executive and in such case the Chief Executive will be given such period as the Board considers reasonable in the circumstances to rectify the inadequacies to the satisfaction of the Board. 11.4.1 If the Board reasonably concludes, after the period referred to in Clause 11.4, that the Chief Executive’s performance has not improved to the satisfaction of the Board, the Board may terminate this Agreement by giving three months’ written notice of termination or, at the Board’s discretion, three months’ pay in lieu of notice.