No contract priced at or with a potential termination liability exceeding $1 million may be terminated without the prior approval of the VP, SM. In addition, no contract regardless of price that is considered sensitive or highly visible may be terminated without the VP, SM’s approval. Contracts with a potential termination liability of $100,000 or more, but not exceeding $1 million, must be reviewed and approved by the Portfolio manager before termination. For more information, see Section 5-13, Terminate Contract.
