Common use of Consequences of Termination for Cause Clause in Contracts

Consequences of Termination for Cause. In the event Adaptec exercises its option to terminate Employee “for cause” as defined in this paragraph, Employee shall be entitled only to the unpaid salary and unused vacation benefits which he has accrued through and until the date of his termination as well as an amount equal to the salary he would have otherwise received for any fully-accrued, unused sabbatical. There shall be no entitlement to compensation for any partially-accrued, unused sabbatical. Employee shall be entitled to no other or further compensation, benefits or severance payments of any kind or nature in the event he is terminated “for cause.” Should the Employee be terminated “for cause” as provided in this paragraph, Adaptec will provide the Employee with a written statement detailing such cause.

Consequences of Termination for Cause. In the event Adaptec exercises its option to terminate Employee “"for cause” " as defined in this paragraph, Employee shall be entitled only to the unpaid salary and unused vacation benefits which he has accrued through and until the date of his termination as well as an amount equal to the salary he would have otherwise received for any fully-accrued, unused sabbatical. There shall be no entitlement to compensation for any partially-accrued, unused sabbatical. Employee shall be entitled to no other or further compensation, benefits or severance payments of any kind or nature in the event he is terminated “"for cause.” " Should the Employee be terminated “"for cause” " as provided in this paragraph, Adaptec will provide the Employee with a written statement detailing such cause.