Common use of Improper Activity Quit Clause in Contracts

Improper Activity Quit. If the Optionee's employment is terminated for cause or if the Optionee quits employment, whether or not the Optionee is a party to a written employment contract, the option granted hereunder shall terminate and expire on the day the Optionee's employment terminates. For purposes of this Section 4 and Section 2.7 of the Plan, an Optionee's employment shall be deemed to have been terminated for "cause" if he is discharged on account of fraud or embezzlement or other unlawful or tortuous conduct, whether or not involving or against the Company or any Affiliate, or for violation of a policy of the Company or any Affiliate or for serious and willful acts of misconduct detrimental to the business or reputation of the Company or any Affiliate (whether or not such acts constitute "cause" pursuant to any written employment contract with the Optionee) or if he is discharged for "cause" or any like term as defined in any written employment contract with the Optionee.

Improper Activity Quit. If the Optionee's ’s employment is terminated for cause or if the Optionee quits employment, whether or not the Optionee is a party to a written employment contract, the option granted hereunder shall terminate and expire on the day the Optionee's ’s employment terminates. For purposes of this Section 4 and Section 2.7 of the Plan4, an Optionee's ’s employment shall be deemed to have been terminated for "“cause" ” if he is discharged on account of fraud or embezzlement or other unlawful or tortuous conduct, whether or not involving or against the Company or any Affiliate, or for violation of a policy of the Company or any Affiliate or for serious and willful acts of misconduct detrimental to the business or reputation of the Company or any Affiliate (whether or not such acts constitute "“cause" ” pursuant to any written employment contract with the Optionee) or if he is discharged for "“cause" ” or any like term as defined in any written employment contract with the Optionee.

Improper Activity Quit. If the Optionee's employment is terminated for cause or if the Optionee quits employment, whether or not the Optionee is a party to a written employment contract, the option granted hereunder shall terminate and expire on the day the Optionee's employment terminates. For purposes of this Section 4 and Section 2.7 of the Plan4, an Optionee's employment shall be 2 Optionee Name deemed to have been terminated for "cause" if he is discharged on account of fraud or embezzlement or other unlawful or tortuous conduct, whether or not involving or against the Company or any Affiliate, or for violation of a policy of the Company or any Affiliate or for serious and willful acts of misconduct detrimental to the business or reputation of the Company or any Affiliate (whether or not such acts constitute "cause" pursuant to any written employment contract with the Optionee) or if he is discharged for "cause" or any like term as defined in any written employment contract with the Optionee.