Common use of Termination of Agreement by the Company Clause in Contracts

Termination of Agreement by the Company. This Agreement may be terminated by the Company in accordance with the following provisions: (a) If XX. XXXXXXXX materially violates accepted standards of moral conduct, or if XX. XXXXXXXX commits an act of fraud, dishonesty, or embezzlement, the Company may terminate this Agreement, without prejudice to any other remedy available to the Company either at law, in equity or under this Agreement; provided, however, that prior to the effective date of such termination, XX. XXXXXXXX shall be given an opportunity at a specially convened meeting of the Company's Board of Directors to respond to the allegations triggering such termination. (b) If XX. XXXXXXXX is convicted of: (i) a misdemeanor involving moral turpitude; or (ii) a felony of any nature during the term of his employment, the Company may terminate this Agreement, without prejudice to any other remedy available to the Company either at law, in equity or under this Agreement. (c) If XX. XXXXXXXX commits an act, or fails to act, by which XX. XXXXXXXX willfully breaches this Agreement, or if XX. XXXXXXXX habitually neglects the duties that he is required to perform under the terms of this Agreement, the Company may terminate this Agreement, without prejudice to any other remedy available to the Company either at law, in equity or under this Agreement. (d) In the event of termination under this Section 17, the Company's obligations to XX. XXXXXXXX under this Agreement shall cease, except for monthly compensation accrued to the date of termination. Concurrent with any termination under this Section 17, the Company shall provide XX. XXXXXXXX with a written explanation of the ground(s) for termination. This Agreement may be terminated by XX. XXXXXXXX in accordance with the following provisions: (e) In the event that the Company breaches this Agreement as set forth in Sections 4 to 7 of this Agreement. (f) If XX. XXXXXXXX chooses to willfully leave the Company after submitting his resignation.

Termination of Agreement by the Company. This Agreement may be terminated by the Company in accordance with the following provisions: (a) If XX. XXXXXXXX BJ materially violates accepted standards of moral conduct, or if XX. XXXXXXXX BJ commits an act of fraud, dishonesty, or embezzlement, the Company may terminate this Agreement, without prejudice to any other remedy available to the Company either at law, in equity or under this Agreement; provided, however, that prior to the effective date of such termination, XX. XXXXXXXX BJ shall be given an opportunity at a specially convened meeting of the Company's Board of Directors to respond to the allegations triggering such termination. (b) If XX. XXXXXXXX BJ is convicted of: (i) a misdemeanor involving moral turpitude; or (ii) a felony of any nature during the term of his employment, the Company may terminate this Agreement, without prejudice to any other remedy available to the Company either at law, in equity or under this Agreement. (c) If XX. XXXXXXXX BJ commits an act, or fails to act, by which XX. XXXXXXXX BJ willfully breaches this Agreement, or if XX. XXXXXXXX BJ habitually neglects the duties that he is required to perform under the terms of this Agreement, the Company may terminate this Agreement, without prejudice to any other remedy available to the Company either at law, in equity or under this Agreement. (d) In the event of termination under this Section 17, the Company's obligations to XX. XXXXXXXX BJ under this Agreement shall cease, except for monthly compensation accrued to the date of termination. Concurrent with any termination under this Section 17, the Company shall provide XX. XXXXXXXX BJ with a written explanation of the ground(s) for termination. This Agreement may be terminated by XX. XXXXXXXX BJ in accordance with the following provisions: (e) In the event that the Company breaches this Agreement as set forth in Sections 4 to 7 of this Agreement. (f) If XX. XXXXXXXX BJ chooses to willfully leave the Company after submitting his resignation.