Common use of Termination by Employer With Cause Clause in Contracts

Termination by Employer With Cause. Employer may terminate Employee's employment with "cause" as hereafter defined in this Section 4(a) upon 5 days' written notice. "Cause" for purposes of Sections 4(a) and 4(b) means Employee's: (i) conviction of, or indictment for, criminal negligence or criminal acts in the work place, (ii) violation of Employer policies or procedures that have been made known to Employee provided Employee has not cured such violation within 10 business days after receiving written notice of violation from Employer, (iii) material breach of the covenants of this Agreement, provided that Employee has not cured such breach within 10 days after receiving written notice from Employer, (iv) the appropriation (or attempted appropriation) of a material business opportunity of Employer, including attempting to secure or securing any profit in connection with any transaction entered into on behalf of the Employer, and (v) the misappropriation (or attempted misappropriation) of any of Employer's funds or property. In the event that Employee is terminated with "cause," Employee shall be entitled to (a) the payment of Employee's then-current accrued, unpaid Salary and accrued, unused vacation which have accrued, each prorated through the date of termination.