Common use of For Due Cause Clause in Contracts

For Due Cause. Nothing herein shall prevent the Company from terminating, without prior notice, the Executive for "Due Cause" (as hereinafter defined), in which event the Executive shall be entitled to receive his Base Salary on a pro rata basis to the date of termination. In the event of such termination for Due Cause, all other rights and benefits the Executive may have under the employee and/or group or senior executive benefit plans and programs of the Company, generally, shall be determined in accordance with the terms and conditions of such plans and programs. The term "Due Cause" shall mean (i) the Executive has committed a willful serious act, such as embezzlement, against the Company intending to enrich himself at the expense of the Company or been convicted of a felony, (ii) the Executive has engaged in conduct which has caused demonstrable and serious injury, monetary or otherwise, to the Company as evidenced by a binding and final judgment, order or decree of a court or administrative agency of competent jurisdiction in effect after exhaustion of all rights of appeal of the action, suit or proceeding, whether civil, criminal, administrative or investigative, (iii) the Executive, in carrying out his duties hereunder, has been guilty of willful gross neglect or willful gross misconduct, resulting in either case in material harm to the Company, or (iv) the Executive has refused to carry out his duties in gross dereliction of duty and, after receiving notice to such effect from the Board, the Executive fails to cure the existing problem within 30 days.

For Due Cause. Nothing herein shall prevent the Company Corporation from terminating, without prior notice, the Executive Employee for "Due Cause" (as hereinafter defined), in which event the Executive Employee shall be entitled to receive his Base Salary on a pro rata basis to the date of termination. In the event of such termination for Due Cause, all other rights and benefits the Executive Employee may have under the employee and/or group or senior executive benefit benefit, bonus and/or stock option plans and programs of the CompanyCorporation, generally, shall be determined in accordance with the terms and conditions of such plans and programs. The term "Due CauseDUE CAUSE" shall mean (i) the Executive Employee has committed a willful serious act, such as embezzlementfraud, embezzlement or theft, against the Company Corporation intending to enrich himself at the expense of the Company or Corporation, (ii) the Employee has been convicted of a felony, (iiiii) the Executive Employee has engaged in improper conduct which has caused demonstrable and serious injury, monetary or otherwise, to the Company as evidenced by a binding and final judgment, order or decree of a court or administrative agency of competent jurisdiction in effect after exhaustion of all rights of appeal of the action, suit or proceeding, whether civil, criminal, administrative or investigativeCorporation, (iiiiv) the ExecutiveEmployee, in carrying out his duties hereunder, has been guilty of willful gross neglect or willful gross misconduct, resulting in either case in material harm to the Company, or (ivv) the Executive Employee has refused to carry out his duties in gross dereliction of duty and, after receiving written notice to such effect from the BoardCorporation, the Executive Employee fails to cure the existing problem within 30 five days, or (vi) the Employee has materially breached this Agreement and has not remedied such breach within five days after receipt of written notice from the Corporation that a breach of this Agreement has occurred.

For Due Cause. Nothing herein shall prevent the Company from ------------- terminating, without prior notice, the Executive for "Due Cause" (as hereinafter defined), in which event the Executive shall be entitled to receive his Base Salary on a pro rata basis to the date of termination. In the event of such termination for Due Cause, all other rights and benefits the Executive may have under the employee and/or senior executive, group or senior executive employee benefit plans and programs of the Company, generally, shall be determined in accordance with the terms and conditions of such plans and programs. The term "Due Cause" shall mean (i) the Executive has committed a willful serious act, such as embezzlement, against the Company intending to enrich himself at the expense of the Company or been convicted of a felony, (ii) the Executive has engaged in conduct which has caused demonstrable and serious injury, monetary or otherwise, to the Company as evidenced by a binding and final judgment, order or decree of a court or administrative agency of competent jurisdiction in effect after exhaustion of all rights of appeal of the action, suit or proceeding, whether civil, criminal, administrative or investigative, (iii) the Executive, in carrying out his duties hereunder, has been guilty of willful gross neglect or willful gross misconduct, resulting in either case in material harm to the Company, or (iv) the Executive has refused to carry out his duties in gross dereliction of duty and, after receiving notice to such effect from the BoardBoard of Directors of the Company, the Executive fails to cure the existing problem within 30 days.