Common use of Cause and Competition Clause in Contracts

Cause and Competition. If the employment of Grantee is terminated for "Cause" (as defined below) or the Grantee terminates his or her employment and commences working for a competitor (as defined below), the Grantee's rights under any then outstanding Option, whether or not vested, shall terminate at the time of termination of employment. "Cause" shall mean any willful or intentional act having the effect of injuring the reputation, business or business relationship of the Company. "Competitor" shall mean any person or entity engaged in a business competitive (in the good faith judgment of the Board or Committee) with that of the Company.