Common use of For Due Cause Clause in Contracts

For Due Cause. If the Company has Due Cause (as hereinafter defined) to terminate the Employee's Employment, the Company will be entitled to terminate the Employee's Employment at any time by delivering written notice of that termination to the Employee, in which event (i) that termination will be effective immediately on the delivery of that notice, (ii) the Company will pay to the Employee his Base Salary accrued and unpaid to the date of that termination and (iii) all the rights and benefits the Employee may have under the employee benefit, bonus and/or stock option plans and programs of the Company, if any, will be determined in accordance with the terms and conditions of those plans and programs. "Due Cause" means: (i) the Employee has committed a willful serious act, such as fraud, embezzlement or theft, against any member of the ARS Group, intending to enrich himself at the expense of the Company or that member; (ii) the Employee has been convicted of a felony (or entered a plea of nolo contendre to a felony charge); (iii) the Employee has engaged in conduct that has caused demonstrable and serious injury, monetary or otherwise, to any member of the ARS Group; (iv) the Employee, in carrying out his duties hereunder, has been guilty of gross neglect or gross misconduct; (v) the Employee has (A) refused to carry out his duties hereunder in gross dereliction of those duties and, after receiving written notice to such effect from the Company, (B) failed to cure the existing problem within five days; or (vi) the Employee has materially breached this Agreement and has not remedied that breach within five days after receipt of written notice from the Company that the breach has occurred.

For Due Cause. If the Company has Due Cause (as hereinafter defined) to terminate the Employee's EmploymentExecutive’s employment, the Company will be entitled to terminate the Employee's Employment Executive’s employment at any time by delivering written notice of that termination to the EmployeeExecutive, in which event (i) that termination will be effective immediately on the delivery of that notice, (ii) the Company will pay to the Employee Executive his Base Salary accrued and unpaid to the date of that termination and (iii) all the rights and benefits the Employee Executive may have under the employee benefit, bonus and/or stock option plans and programs of the Company, if any, will be determined in accordance with the terms and conditions of those plans and programs. "“Due Cause" ” means: (i) the Employee Executive has committed a willful serious act, such as fraud, embezzlement or theft, against any member of the ARS Group, intending to enrich himself at the expense of the Company or that memberGroup; (ii) the Employee Executive has been convicted indicted of a felony (charge or entered a plea of nolo contendre to contendere or been convicted of a felony charge)misdemeanor charge involving moral turpitude; (iii) the Employee Executive has engaged in conduct that has caused demonstrable and serious injury, monetary or otherwise, to any member of the ARS Group; (iv) the EmployeeExecutive, in carrying out his duties hereunder, has been guilty of willful gross neglect negligence or willful gross misconduct; (v) the Employee Executive has (A) refused to carry out his duties hereunder in gross dereliction of those duties and, after receiving written notice to such effect from the Company, (B) failed to cure the existing problem within five days; or (vi) the Employee Executive has materially breached this Agreement and has not remedied that breach within five days after receipt of written notice from the Company that the breach has occurredAgreement.

For Due Cause. If Nothing herein shall prevent the Company has Corporation from terminating, without prior notice, the Employee for "Due Cause Cause" (as hereinafter defined) to terminate the Employee's Employment, the Company will be entitled to terminate the Employee's Employment at any time by delivering written notice of that termination to the Employee), in which event (i) that termination will be effective immediately on the delivery of that notice, (ii) the Company will pay to the Employee shall be entitled to receive his Base Salary accrued and unpaid on a pro rata basis to the date of that termination. In the event of such termination and (iii) for Due Cause, all the other rights and benefits the Employee may have under the employee and/or group or senior executive benefit, bonus and/or stock option plans and programs of the CompanyCorporation, if anygenerally, will shall be determined in accordance with the terms and conditions of those such plans and programs. The term "Due CauseDUE CAUSE" means: shall mean (i) the Employee has committed a willful serious act, such as fraud, embezzlement or theft, against any member of the ARS Group, Corporation intending to enrich himself at the expense of the Company or that member; Corporation, (ii) the Employee has been convicted of a felony (or entered a plea of nolo contendre to a felony charge); felony, (iii) the Employee has engaged in grossly improper conduct that which has caused demonstrable and serious injury, monetary or otherwise, to any member of the ARS Group; Corporation, (iv) the Employee, in carrying out his duties hereunder, has been guilty of willful gross neglect or willful gross misconduct; , (v) the Employee has (A) refused to carry out his duties hereunder in gross dereliction of those duties duty and, after receiving written notice to such effect from the CompanyCorporation, (B) failed the Employee fails to cure the existing problem within five days; , or (vi) the Employee has materially breached this Agreement and has not remedied that such breach within five days after receipt of written notice from the Company Corporation that the a breach of this Agreement has occurred.