Common use of Payment in Lieu of Notice Clause in Contracts

Payment in Lieu of Notice. Any time that notice of termination is required by any party under this Agreement, the Company may, in its sole discretion and at its option, relieve the Executive of his duties immediately and pay the Executive his regular base salary during the notice period.

Payment in Lieu of Notice. Any The Company reserves the right in its absolute discretion to terminate Executive’s employment immediately either instead of or at any time that after notice of termination is required given by any either party under and to make a payment in lieu of notice. For this Agreementpurpose, 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 may, Company’s right to make a payment in its sole discretion and at its option, relieve the lieu of notice does not give Executive a right to receive such a payment in lieu of his duties immediately and pay the Executive his regular base salary during the notice period.notice