Termination by Company for. Cause" or Voluntarily by Executive. The Company may terminate this Agreement for "Cause" effective immediately upon written notice thereof to Executive. For purposes of this Agreement, "Cause" shall mean and be limited to the following event: (i) an act of fraud, embezzlement or similar conduct by Executive involving the Company; (ii) any action by Executive involving the arrest of Executive for violation of any criminal statute constituting a felony if the Board reasonably determines that the continuation of Executive's employment after such event would have an adverse impact on the operations or reputation of the Company in the financial community; or (iii) a continuing, repeated willful failure or refusal by Executive to perform his duties; provided, however, that this Agreement may not be terminated under this subclause (iv) unless Executive shall have first received written notice from the Board advising Executive of the specific acts or omissions alleged to constitute a failure or refusal to perform and such failure or refusal to perform continues after Executive shall have had a reasonable opportunity to correct the acts or omissions cited in such notice. In the event of termination for "Cause", or voluntarily by Executive other than as permitted in Sections 6(b)(i), 6(b)(ii) and 6(c), (x) Executive shall be entitled to receive that portion of the Base Salary and all benefits accrued through the date of termination and, (y) all Options that have become exercisable as of the date of termination shall remain so for a period of 90 days.
Termination by Company for. “Cause”: Company may at any time while you are employed by Company, by written notice, terminate your employment for Cause (as defined below), such Cause to be specified in the notice of termination. The following acts shall constitute “Cause” hereunder: (i) ceasing to perform your material duties to Company or any of its affiliates (other than as a result of vacation, approved leave, or your incapacity due to physical or mental illness or injury), which failure amounts to an extended neglect of such duties, (ii) engaging in conduct that is demonstrably and materially injurious to the business of Company or any of its affiliates, (iii) conviction of, or plea of guilty or no contest to, any misdemeanor involving as a material element fraud, dishonesty or sale or possession of illicit substances, or to a felony, (iv) failing to follow the lawful instructions of Company’s board of directors or your direct superiors to the extent such instructions have been communicated to you, or (v) your breach of any material covenant contained in this letter. Notice of termination given to you by Company shall specify the reason(s) for such termination, and in the case where a cause for termination described in clause (i), (iv) or (v) above shall be susceptible of cure, if you fail to cure such cause for termination within fifteen (15) days after the date of such notice, termination shall be effective upon the expiration of such fifteen (15)-day period, and if you cure such cause within such fifteen (15)-day period, such notice of termination shall be ineffective. In all other cases, notice of termination shall be effective on the date thereof. In the event of a termination of your employment by Company for Cause, you shall have no further rights to payments or benefits from Company other than the right to receive any accrued but unpaid salary, accrued vacation pay, any unreimbursed expenses and any accrued but unpaid benefits, in each case to the date of your termination and in accordance with the applicable Company plan or policy (collectively, the “Basic Termination Payments”), except that any entitlements you may have under the Plan shall be governed by its terms.
Termination by Company for. “Cause”. Company may, immediately and unilaterally, terminate Employee’s employment hereunder for “cause” at any time. Termination shall be for “cause” if it is based on any of the following: (i) indictment or conviction of Employee of any felony, or of any misdemeanor reasonably determined by the Company to involve moral turpitude; (ii) Employee’s acts or omissions involving willful or intentional malfeasance or misconduct that is, or may reasonably be expected to be, injurious to the Company, its business, reputation, prospects, or otherwise; (iii) commission of any act of fraud or embezzlement against Company; (iv) inability to legally perform his duties for any reason in the Louisville, Kentucky area; (v) failure to operate substantially within the budget of the Company as adopted by the board of directors of the Company; and (vi) any act or omission by Employee constituting a material breach of Employee’s obligations under this Agreement. In the event of a termination for “cause” pursuant to the provisions of this Section, Employee shall not be entitled to any Base Salary, Bonus, severance salary, or any other benefits, except for amounts accrued prior to the effective date of termination and except for those, if any, required to be extended by applicable law.
Termination by Company for. Cause" or Voluntarily by Executive. The Company may terminate this Agreement for "Cause" effective immediately upon
Termination by Company for. “Cause.” The Company may obtain an early termination of this Agreement in the event that there is “cause” regarding the Executive’s performance of his duties to justify such an early termination. “Cause,” for purposes of this Agreement, means (1) an act or acts committed by the Executive that is to be judged by an impartial and qualified third party as having demonstrated gross incompetence, or insubordination of sufficient degree as to cause substantial harm to the Company’s program, clients and/or staff; (2) an act of fraud, dishonesty or misappropriation of funds by the Executive with respect to the Company; or (3) the Executive’s conviction of, or plea of no contest to, a felony of a Crime of Moral Turpitude. Upon the Company believing that it has just cause to terminate Executive, Company shall provide written notice to Executive of its belief and the reason(s). Thereafter, Executive shall have twenty (20) business days to address the Company’s stated reason(s) and to cure the reason(s) cited by the Company. If the Executive fails to cure the stated reason(s) cited by the Company, the Company shall then provide the Executive with written notice of its decision at least 15 days in advance of the desired termination date, together with written documentation of the Cause that is the basis for the Company to seek such early termination. The Executive will continue to provide services to the Company from the date he receives the notice and documentation until the desired termination date, if requested to do so by the Company. The Executive will also be entitled to the Severance Benefits described in this Section 4G (“Severance Benefits”).
Termination by Company for. Any Other Reason;
Termination by Company for. “Cause”. Company may, in its sole and exclusive discretion, immediately and unilaterally, terminate Employee’s employment hereunder for “cause” at any time. Termination shall be for “cause” if it is based on any of the following: (i) indictment or conviction of Employee of any felony, or of any misdemeanor reasonably determined by the Company to involve moral turpitude; (ii) Employee’s acts or omissions involving willful or intentional malfeasance or misconduct that is, or may reasonably be expected to be, injurious to the Company, its business, reputation, prospects, or otherwise; (iii) commission of any act of fraud or embezzlement against Company; (iv) after having obtained the appropriate work visa, inability to legally perform his duties in the United States, including but not limited to, failure to retain appropriate work visas, so long as such failure was not due to malfeasance or non-feasance by the Company in its assistance to Employee in retaining the same; (v) after having obtained the appropriate visas permitting he and his immediate family to do so, failure to relocate to the Louisville, Kentucky area within the time allowed by this Agreement; (vi) failure to operate substantially within the budget of the Company as adopted by the Board, so long as such failure was within the reasonable control of Employee; and (vii) any act or omission by Employee constituting a material breach of Employee’s obligations under this Agreement which act or omission is either not capable of being remedied, or, is not remedied within ten (10) days of notice from the Company of the material breach. In the event of a termination for “cause” pursuant to the provisions of this Section, Employee shall not be entitled to any Base Salary, Bonus, LTIP, severance salary, or any other benefits, except for amounts accrued prior to the effective date of termination and except for those, if any, required to be extended by applicable law.
Termination by Company for. Any Reason (other than death or Disability or Without Cause) Within One Year Following a
Termination by Company for. Cause" --------------------------------- The Company may terminate the Executive for Cause.
Termination by Company for. Cause" ---------------------------------- If the Employment Agreement is not in force the Company may terminate the Executive for Cause as defined in this Agreement. If the Employment Agreement is in force the Company may terminate the Executive for cause only in accordance with the terms of the Employment Agreement.
