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I I I I I I I I I I I I I I I I I I I . e ARTICLE IV (Continued) Termination B. Tennination By Client For Cause The Client may tenninate the Sl1ppiier's perfonnance of selVices under this Contract in the event of default by the Supplier and a failure by the Supplier to cure such defaultlfier receiving notice thereof, as provided in this subsection. Default by the Supplier shall occur if the Supplier fails to obselVe or perfonn any of its duties under this Contract. Should such a default occur, the Client may deliver a written notice to the Supplier describing such default and the proposed date of tennination. Such date may not be sooner than the thinieth (30th) day following receipt of the notice, The Client at its sole option, may extend the proposed date of tennination to a later date. If the Supplier cures such default prior to the proposed date of tennination, then the proposed tennination shall be ineffective. If the Supplier fails to cure such default prior to the proposed date of tennination, then the Client may tenninate the Supplier's perfonnance under this Contract as of such date. 1, The following are hereby defmed as events of default whether occurring independently or severally: a. Failure of the Supplier to perfonn or obselVe any of the other obligations, covenants, agreements, and conditions required to be perfonned or obselVed under this Contract; or b. The dissolution or liquidation of the Supplier, the filing of a voluntary petition or bankruptcy by the Supplier, the adjudication of the Supplier as a Bankrupt; an assignment for the benefit of creditors by the Supplier, the entry into an agreement of composition with its creditors by the Supplier. the approval by a court of competent jurisdiction of any petition or other pleading in any action seeking reorganization, arrangement, adjustment, or composition of or in respect of the Supplier under the Federal Bankruptcy Ace or any similar State or Federal law; or the appointment of a receiver, trustee or other similar official for Supplier or its property, unless within sixty (60) days after such appointment the Supplier causes such appointment to be stayed or discharged, 2, Upon the effective date of tennination as contained in the notice, the Supplier shall, unless the notice directs otherwise, immediately discontinue all selVice in connection with this Contract and shall proceed to cancel promptly all existing orders and subcontracts insofar as such orders or subcontracts are chargeable to this Contract. As soon as practicable after the effective date of the notice of tennination, the Supplier shall submit an invoice showing in detail the selVices perfonned under this Contract to the date of tennination. The Client shall then pay the Supplier for that ponion of the prescribed fees for which selVices were actually perfonned under this Contract and prior to tennination notice. Page 3 of 9