Common use of Employer’s Obligations Upon Termination for Cause Clause in Contracts

Employer’s Obligations Upon Termination for Cause. In the event this Agreement is terminated for cause, as of the effective date of such termination, all of the Employer’s obligations to the Employee under this Agreement subsequent to that date shall cease, including, without limitation, payment of any compensation set forth in Article 5. Employee shall not be entitled to payment for accrued and unused annual leave. In no case shall the Employer be liable to the Employee for the loss of any collateral or outside business opportunities or any other benefits, perquisites or income resulting from activities such as, but not limited to, consulting relationships or from any other source whatsoever.