termination payment

termination payment
A payment made on termination of a contract.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • termination fee — payment that must be made for ending an activity, form of a financial penalty for canceling a transaction …   English contemporary dictionary

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  • progress payment — Payment made as work progresses under a contract, upon the basis of costs incurred, of percentage of completion accomplished, or of a particular stage of completion. The term does not include payments for partial deliveries accepted by the… …   Military dictionary

  • PAYG payment summary — noun (in the Australian tax system) a certificate issued by an employer to an employee at the end of a financial year or on termination of employment, detailing gross income, tax paid, contributions to superannuation, etc.; formerly known as a… …  

  • Surrogatum — is a thing put in the place of another or a substitute. [New Shorter Oxford English Dictionary. 1997. Version 1.0.03] The Surrogatum Principle pertains to a Canadian income tax principle involving a person who suffers harm caused by another and… …   Wikipedia

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  • change of control clause — A contractual provision which gives a party to an agreement enhanced protection if the controlling shareholding of the other party is transferred. In commercial contracts a change of control clause will often give the party who is not subject to… …   Law dictionary

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