Common use of By Company With Cause Clause in Contracts

By Company With Cause. This Agreement may be terminated by Company at any time upon written notice for any of the following reasons: I. conviction of the Employee for a felony which in the reasonable judgment of the Board materially affects Employee's ability to perform his duties pursuant to this Agreement; II. commission by Employee of an act of fraud, embezzlement, or material dishonesty against the Company or its affiliates; or III. intentional neglect of or material inattention to Employee's duties, which neglect or inattention remains uncorrected for more than 30 days following written notice from the Board detailing the Board's concern. At the time of such termination, Company will pay to Employee the amount of compensation determined under Section 2.1(a), such amounts to be adjusted pro rata for the portion of the term of the Agreement completed on the date of termination. Employee shall also be entitled to reimbursement pursuant to Section 2.2 for expenses incurred in the performance of his duties hereunder prior to termination.