Common use of Termination for Cause by Company Clause in Contracts

Termination for Cause by Company. This Agreement may be terminated for cause at any time by action of the Company’s Board of Directors. Such termination shall be effective upon the Company’s delivery to the Employee of written notice of such termination. For the purpose of this Agreement, a termination shall be for “cause” in the event of: (i) any material breach of business or professional ethics by the Employee; (ii) any act or omission of the Employee that materially injures the business or professional reputation of the Company; (iii) the Employee’s conviction of, or his pleading of nolo contendere to, a felony or any crime involving fraud, dishonesty, or moral turpitude; (iv) the Employee’s dishonesty in the conduct of the business affairs of the Company or in dealing with the finances or property of the Company; (v) any material failure by the Employee to comply with any of the terms of this Agreement or any reasonable request of the Board of Directors of the Company; or (vi) any material failure of the Employee to faithfully to perform his services hereunder in a timely and competent manner. Upon termination of this Agreement for cause, except as otherwise provided herein, all of the Employee’s rights to compensation and benefits shall immediately terminate to the maximum extent permitted by applicable law, provided that the Employee shall receive any portion of the Base Salary and other benefits under the Company’s benefit plans that have accrued through the date of termination but has not previously been paid.

Termination for Cause by Company. This Agreement may be terminated for cause at any time by action of the Company’s Board of Directors. Such termination shall be effective upon the Company’s delivery to the Employee Future of written notice of such termination. For the purpose of this Agreement, a termination shall be for “cause” in the event of: (i) any material breach of business or professional ethics by the EmployeeFuture; (ii) any act or omission of the Employee Future that materially injures the business or professional reputation of the Company; (iii) the EmployeeFuture’s conviction of, or his its pleading of nolo contendere to, a felony or any crime involving fraud, dishonesty, or moral turpitude; (iv) the EmployeeFuture’s dishonesty in the conduct of the business affairs of the Company or in dealing with the finances or property of the Company; (v) any material failure by the Employee Future to comply with any of the terms of this Agreement or any reasonable request of the Board of Directors of the Company; or (vi) any material failure of the Employee Future to faithfully to perform his its services hereunder in a timely and competent manner. Upon termination of this Agreement for cause, except as otherwise provided herein, all of the EmployeeFuture’s rights to compensation and benefits shall immediately terminate to the maximum extent permitted by applicable law, provided that the Employee Future shall receive any portion of the Base Salary and other benefits under the Company’s benefit plans Fees that have accrued through the date of termination but has not previously been paid.