Common use of Termination by Company For Just Cause or Permanent Disability Clause in Contracts

Termination by Company For Just Cause or Permanent Disability. Notwithstanding anything in this agreement to the contrary, the Company may terminate the employment of the Executive hereunder without notice or compensation in lieu: (a) upon the occurrence of any situation, event or happening which would constitute “cause” under the common law and includes, without limitation, the following: (i) any wilful failure by the Executive in the performance of any of the Executive’s duties pursuant to this Agreement, (ii) the Executive’s conviction of a criminal or summary conviction offence related to the employment of the Executive hereunder, or any act involving money or other property involving the Company or any Subsidiary which would constitute a crime in the jurisdiction involved, (iii) any act of fraud, misappropriation, dishonesty, embezzlement or similar conduct against the Company, any Subsidiary, a supplier or service provider to the Company or any Subsidiary or a customer of the Company or of any Subsidiary, (iv) the use of illegal drugs or the habitual and disabling use of alcohol or drugs, (v) any material breach of any of the terms of this agreement by the Executive which breach remains uncured after the expiration of thirty (30) days following the delivery of written notice of such breach to the Executive by the Company, (vi) any threatened or actual attempt by the Executive to secure any personal profit in connection with the business of the Company or any Subsidiary or any of their respective corporate opportunities, or the appropriation of a maturing business opportunity of the Company or any of the Subsidiaries, (vii) any act by the Executive which is materially injurious to the Company or its business or that of any Subsidiary, (viii) any material breach by the Executive of any of the policies and governing the affairs of the Company and the conduct of its employees that may be implemented by the Board from time to time, and (ix) conduct by the Executive amounting to insubordination or inattention to, or substandard performance of the duties and responsibilities of the Executive under this agreement, which failure or conduct remains uncured after the expiration of thirty (30) days following the delivery of written notice of such failure or conduct to the Executive by the Company, (“Just Cause”); (b) the Executive suffers Permanent Disability; or (c) the Executive dies, by giving written notice to the Executive of its intention to terminate this agreement on the date specified in such notice (except in the case of death, in which case such termination is automatically effective on the day which is ninety (90) days after the date of death without any requirement for notice, provided that the Base Salary which would otherwise have been payable to the Executive during such period will be paid to the estate of the Executive).

Appears in 1 contract

Samples: Employment Agreement (Cardero Resource Corp.)

AutoNDA by SimpleDocs

Termination by Company For Just Cause or Permanent Disability. Notwithstanding anything in this agreement to the contrary, the Company may terminate the employment of the Executive Employee hereunder without notice or compensation in lieu: (a) upon the occurrence of any situation, event or happening which would constitute “cause” under the common law and includes, without limitation, the following: (i) any wilful failure by the Executive Employee in the performance of any of the ExecutiveEmployee’s duties pursuant to this Agreementagreement, (ii) the ExecutiveEmployee’s conviction of a criminal or summary conviction offence related to the employment of the Executive Employee hereunder, or any act involving money or other property involving the Company or any Subsidiary which would constitute a crime in the jurisdiction involved, (iii) any act of fraud, misappropriation, dishonesty, embezzlement or similar conduct against the Company, any Subsidiary, a supplier or service provider to the Company or any Subsidiary or a customer of the Company or of any Subsidiary, (iv) the use of illegal drugs or the habitual and disabling use of alcohol or drugs, (v) any material breach of any of the terms of this agreement by the Executive Employee which breach remains uncured after the expiration of thirty (30) days following the delivery of written notice of such breach to the Executive Employee by the Company, (vi) any threatened or actual attempt by the Executive Employee to secure any personal profit in connection with the business of the Company or any Subsidiary or any of their respective corporate opportunities, or the appropriation of a maturing business opportunity of the Company or any of the Subsidiaries, (vii) any act by the Executive Employee which is materially injurious to the Company or its business or that of any Subsidiary, (viii) any material breach by the Executive Employee of any of the policies and governing the affairs of the Company and the conduct of its employees that may be implemented by the Board from time to time, and (ix) the failure of the Employee to devote his full time (subject to section 2.02) to the Company’s business, or conduct by the Executive Employee amounting to insubordination or inattention to, or substandard performance of the duties and responsibilities of the Executive Employee under this agreement, which failure or conduct remains uncured after the expiration of thirty (30) days following the delivery of written notice of such failure or conduct to the Executive Employee by the Company, (“Just Cause”); (b) the Executive ability of the Employee to work in Canada is, through no action or inaction of the Company, adversely affected or terminated by virtue of the termination or cancellation of his Canadian work permit; (c) the Employee suffers Permanent Disability; or (cd) the Executive Employee dies, by giving written notice to the Executive Employee of its intention to terminate this agreement on the date specified in such notice (except in the case of death, in which case such termination is automatically effective on the day which is ninety thirty (9030) days after the date of death without any requirement for notice, provided that the Base Salary which would otherwise have been payable to the Executive Employee during such period will be paid to the estate of the ExecutiveEmployee).

Appears in 1 contract

Samples: Employment Agreement (Cardero Resource Corp.)

Termination by Company For Just Cause or Permanent Disability. Notwithstanding anything in this agreement to the contrary, the Company may terminate the employment of the Executive hereunder without notice or compensation in lieu: (a) upon the occurrence of any situation, event or happening which would constitute “cause” under the common law and includes, without limitation, the following: (i) any wilful failure by the Executive in the performance of any of the Executive’s duties pursuant to this Agreementagreement, (ii) the Executive’s conviction of a criminal or summary conviction offence related to the employment of the Executive hereunder, or any act involving money or other property involving the Company or any Subsidiary which would constitute a crime in the jurisdiction involved, (iii) any act of fraud, misappropriation, dishonesty, embezzlement or similar conduct against the Company, any Subsidiary, a supplier or service provider to the Company or any Subsidiary or a customer of the Company or of any Subsidiary, (iv) the use of illegal drugs or the habitual and disabling use of alcohol or drugs, (v) any material breach of any of the terms of this agreement by the Executive which breach remains uncured after the expiration of thirty (30) days following the delivery of written notice of such breach to the Executive by the Company, (vi) any threatened or actual attempt by the Executive to secure any personal profit in connection with the business of the Company or any Subsidiary or any of their respective corporate opportunities, or the appropriation of a maturing business opportunity of the Company or any of the SubsidiariesSubsidiary, (vii) any act by the Executive which is materially injurious to the Company or its business or that of any Subsidiary, (viii) any material breach by the Executive of any of the policies and governing the affairs of the Company and the conduct of its employees that may be implemented by the Board from time to time, and (ix) the failure of the Executive to devote the required time to the Company’s business, or conduct by the Executive amounting to insubordination or inattention to, or substandard performance of the duties and responsibilities of the Executive under this agreement, which failure or conduct remains uncured after the expiration of thirty (30) days following the delivery of written notice of such failure or conduct to the Executive by the Company, (“Just Cause”); (b) the Executive suffers Permanent Disability; or (c) the Executive dies, by giving written notice to the Executive of its intention to terminate this agreement on the date specified in such notice (except in the case of death, in which case such termination is automatically effective on the day which is ninety thirty (9030) days after the date of death without any requirement for notice, provided that the Base Salary which would otherwise have been payable to the Executive during such period will be paid to the estate of the Executive).

Appears in 1 contract

Samples: Employment Agreement (Cardero Resource Corp.)

AutoNDA by SimpleDocs

Termination by Company For Just Cause or Permanent Disability. Notwithstanding anything in this agreement Agreement to the contrary, the Company may terminate the employment of the Executive hereunder without notice or compensation in lieulieu if: (a) upon the occurrence of any situation, event or happening which would constitute “cause” under the common law and includes, without limitation, the following: (i) any wilful failure by the Executive in the performance of any of the Executive’s duties pursuant to this Agreementagreement, (ii) the Executive’s conviction of a criminal or summary conviction offence related to the employment of the Executive hereunder, or any act involving money or other property involving the Company or any Subsidiary which would constitute a crime in the jurisdiction involved, (iii) any act of fraud, misappropriation, dishonesty, embezzlement or similar conduct against the Company, any Subsidiary, a supplier or service provider to the Company or any Subsidiary or a customer of the Company or of any Subsidiary, (iv) the use of illegal drugs or the habitual and disabling use of alcohol or drugs, (v) any material breach of any of the terms of this agreement by the Executive which breach remains uncured after the expiration of thirty (30) days following the delivery of written notice of such breach to the Executive by the Company, (vi) any threatened or actual attempt by the Executive to secure any personal profit in connection with the business of the Company or any Subsidiary or any of their respective corporate opportunities, or the appropriation of a maturing business opportunity of the Company or any of the SubsidiariesSubsidiary, (vii) any act by the Executive which is materially injurious to the Company or its business or that of any Subsidiary, (viii) any material breach by the Executive of any of the policies and governing the affairs of the Company and the conduct of its employees that may be implemented by the Board from time to time, and (ix) the failure of the Executive to devote the required time to the Company’s business, or conduct by the Executive amounting to insubordination or inattention to, or substandard performance of the duties and responsibilities of the Executive under this agreement, which failure or conduct remains uncured after the expiration of thirty (30) days following the delivery of written notice of such failure or conduct to the Executive by the Company, (“Just Cause”); (b) the Executive suffers Permanent Disability; or (c) the Executive dies, by giving written notice to the Executive of its intention to terminate this agreement Agreement on the date specified in such notice (except in the case of death, in which case such termination is automatically effective on the day which is ninety thirty (9030) days after the date of death without any requirement for notice, provided that the Base Salary which would otherwise have been payable to the Executive during such period will be paid to the estate of the Executive).

Appears in 1 contract

Samples: Employment Agreement (Cardero Resource Corp.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!