Common use of Effects of Actions Constituting Cause Clause in Contracts

Effects of Actions Constituting Cause. Notwithstanding anything in this Agreement to the contrary, in the event that the Optionee is determined by the Committee, acting in its sole discretion, to have committed any action which would constitute Cause, irrespective of whether such action or the Committee’s determination occurs before or after termination of the Optionee’s employment with the Company or any Subsidiary, all rights of the Optionee under the Plan and this Agreement shall terminate and be forfeited without notice of any kind. The Company may defer the exercise of this Option for up to forty-five (45) days in order for the Committee to make any determination as to the existence of Cause.

Effects of Actions Constituting Cause. Notwithstanding anything in this Agreement to the contrary, in the event that the Optionee Grantee is determined by the Committee, acting in its sole discretion, to have committed any action which would constitute Cause, irrespective of whether such action or the Committee’s determination occurs before or after termination of the OptioneeGrantee’s employment with the Company or any Subsidiary, all rights of the Optionee Grantee under the Plan and this Agreement shall terminate and be forfeited without notice of any kind. The Company may defer the exercise settlement of this Option the Award Units for up to forty-five (45) days in order for the Committee to make any determination as to the existence of Cause.