In that period, employers can terminate the contract without having to offer an explanation.
But Kodak declared bankruptcy last month, and a judge permitted the company to terminate the contract earlier this week.
If Bank of America matches any competing offer, there is no further right to terminate the contract for a superior proposal, it added.
If Silver Wheaton chooses to terminate the contract with Barrick over a failure to meet its commitments, it will have a negative impact on its expected silver stream quantity by 2017.
FORBES: How Bad Will Weak Prices Ding Silver Wheaton's Earnings?
Clauses to this effect were subsequently put into contracts that Skins signed with athletes and teams, and the firm vowed that if any of its sportspeople or teams were caught "systematically cheating" - on a regular and calculating basis - then the firm would "terminate the contract, and terminate it very loudly".
The great thing about being able to fire a person or a contractor, or any kind of counterparty is that the option to terminate a contract brings accountability.
Fernandes, the boss of the Air Asia airline, is also suing Group Lotus for breach of contract over its decision to terminate the licence agreement.
"I found the decision of the board of West Ham United to terminate my contract after only four matches disappointing, " he said.
Morals clauses are typically worded in such a way as to allow a brand to immediately terminate an endorsement contract, without any penalty, should the athlete endorser act in a certain manner that would tarnish the reputation of the brand.
FORBES: Nike's Disassociation From Lance Armstrong Makes Nike A Stronger Brand
Ms Shoesmith's latest legal action challenges the legality of this latest "attempt" to terminate her contract of employment.
应用推荐