Termination of Employment by Company for Cause. The Company may terminate this Agreement and Employee’s employment at any time during the Employment Term for cause. For purposes of this Agreement, “cause” shall be defined as commission of any crime involving moral turpitude or constituting a felony, prohibition from participation in securities offerings, or commission of acts against Company which constitute fraud, embezzlement, misappropriation, a breach of the express terms of this Agreement, dishonesty or disloyalty to the Company, gross negligence or other similar serious misconduct. A termination for any other reason shall be considered a termination without cause. In the event that the Company terminates this Agreement and Employee’s employment for cause, it may do so without notice and without compensation of any kind, other than payment for salary, incentive compensation, bonus, and accrued benefits earned by Employee through the date of termination. It is expressly recognized by the Company and Employee that, if the Company determines in its sole discretion the termination is covered by this Article, then the Company may pursue other remedies or rights which it might be able to assert, including civil or criminal action.
Termination of Employment by Company for Cause. (a) The Company may terminate Executive's employment at any time for "Cause" (as defined below), but only after a written notice in form and substance, as approved by the Chief Executive Officer of the Company or the Chief Executive Officer of Parent, and materially complying with Section 6(b) below (a "Termination Notice") shall be delivered to Executive and any applicable cure period prescribed below has passed.
(b) The Termination Notice shall (i) set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive's employment (the "Statement of Cause"); and (ii) if applicable, stating that Executive has right to cure and any time period by which such cure must occur.
(c) For purposes of this Agreement:
Termination of Employment by Company for Cause. The Company may also terminate this Agreement for "Cause" (as defined below). Upon termination for Cause, the Company will pay to Mr. Xxxxxxxxx xxx amounts due and unpaid for services rendered prior to termination. The Term shall be terminated effective the date of such termination for Cause and, except as provided in the foregoing sentence, no further amounts shall be payable hereunder. For purposes of this Agreement, "Cause" shall mean (i) Mr. Xxxxxxxxx'x xxxlful and continued failure substantially to perform its or his duties hereunder (other than as a result of Disability
Termination of Employment by Company for Cause. The Company may also terminate this Agreement for "Cause" (as defined below). Upon termination for Cause, the Company will pay to Mr. Schroeder all amounts due and unpaid for services rendered pxxxx xx xxxxxnation. The Term shall be terminated effective the date of such termination for Cause and, except as provided in the foregoing sentence, no further amounts shall be payable hereunder. For purposes of this Agreement, "Cause" shall mean termination of Mr. Schroeder's employment because, in the Company's good faith beliex, (x) Xx. Schroeder willfully and continually failed substantially to perfoxx xxx xuties under the Agreement (other than as a result of Disability), (ii) Mr. Schroeder failed to comply with any of the material terms of this Xxxxxxxnt, including, but not limited to, Sections 6 and 7 hereof, (iii) Mr. Schroeder committed an act or acts that constituted a misdemeanor (xxxxx than a minor traffic violation) or a felony under the law of the United States (including any subdivision thereof) or any country to which he is assigned (including any subdivision thereof), including, but not limited to, his conviction for or plea of guilty or no contest ("nolo contendre") to any such misdemeanor or felony, (iv) Mr. Schroeder committed an act or acts in violation of the Compaxx'x xxxxxxxx and/or practices applicable to its senior level executive officers, (v) Mr. Schroeder willfully acted, or willfully failed to act, in a xxxxxx xxxx xas injurious to the financial condition or business reputation of the Company or any of its subsidiaries or affiliates, (vi) Mr. Schroeder acted in a manner that is unbecoming of his positixx, xxxxxxxxxs of whether such action or inaction occurs in the course of the performance of his duties, or (vii) Mr. Schroeder was subject to any fine, censure, or sanction of any kixx, xxxxanent or temporary, issued by the Securities and Exchange Commission or the New York Stock Exchange.
Termination of Employment by Company for Cause. Company may immediately terminate this Agreement For Cause, as defined below, upon delivery of a written notice of For Cause Termination to Executive. For Cause shall mean upon the occurrence of any of the following events:
i. Executive's gross negligence or breach of this Agreement; or
ii. Executive is convicted of, or pleads guilty or no contest to, any crime punishable as a felony, embezzlement or fraud; or
iii. Executive engages in immoral or dishonest acts which materially and negatively affect Company.
Termination of Employment by Company for Cause. The Company may terminate Executive's employment at any time for "Just and Substantial Cause" but only after written Notice of Termination (as defined below) as approved by the Chief Executive Officer of the Company and the Chief Executive Officer of Autotote specifying the cause of such action shall be rendered to Executive. "Just and Substantial Cause" shall mean: conviction of a felony; commission of an act or acts of dishonesty on the part of Executive when such acts are intended to result, directly or indirectly, in substantial wrongful gain or substantial wrongful personal enrichment of Executive at the expense of the Company; or the engaging by Executive in willful misconduct materially injurious to the Company with respect to which (x) Executive knew or reasonably should have known that such conduct would result in material financial injury to the Company, (y) such conduct actually results in material financial injury to the Company, and (z) such damage is not cured (if the same is reasonably susceptible to cure) within a reasonable time following receipt by Executive of written notice thereof from the Company referring to this Agreement. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Just and Substantial Cause unless and until there shall have been delivered to Executive written notice (a) setting forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive's employment (the "Statement of Just and Substantial Cause"), and (b) stating that as a result, Executive is being terminated for Just and Substantial Cause and the specific termination provision in this Agreement being relied upon (collectively with the Statement of Just and Substantial Cause, a "Notice of Termination"). For purposes of this Agreement, no such purported termination shall be effective without Notice of Termination. In the event Executive shall be terminated for Just and Substantial Cause, Executive shall be entitled to all salary actually earned prior to termination, all stock options vested prior to or vesting upon termination, all bonuses vested prior to or vesting upon termination, and all restricted shares vested prior to or vesting upon termination. No severance pay would be owing in the event of termination pursuant to this Section 5 for Just and Substantial Cause.
Termination of Employment by Company for Cause. If BLSI terminates Executive's employment during the Employment Period for Cause, Executive shall receive all accrued wages earned to date and shall be entitled to no other benefits of any kind from the Company.
Termination of Employment by Company for Cause. In the event that the employment relationship of Participant with the Company is terminated by the Company for “Cause”:
(a) The Company shall purchase from the Participant and the Participant (or his Legal Representative) shall sell and transfer to the Company all Shares owned by Participant upon the terms set forth in Article III hereof at the purchase price determined pursuant to Article IV hereof.
(b) The purchase and sale of Participant’s Shares shall be completed at a closing to be held within ninety (90) days from the effective date of Participant’s termination of employment with the Company.
(c) For purposes of this Article II, Cause shall be defined as the occurrence of any one or more of the following acts or events: (1) fraud, misappropriation, embezzlement, or other act of material dishonesty against the Company; (2) any act or acts by Participant with respect to Company which constitute a breach of Participant’s fiduciary duties or duties of honesty, good faith and loyalty (including derogatory statements regarding the Company, but excluding statements made in connection with any legal action filed against the Company); (3) any act by Participant which is intentionally damaging to the Company; (4) commission by Participant of a felony or misdemeanor involving moral turpitude; (5) a material breach by Participant of any provision of this Agreement within his control or failure of Participant to properly and diligently perform his duties as an employee, officer and/or director of the Company, which violation is not remedied within three (3) days after notice from Company specifying such violation; (6) alcohol or drug abuse affecting in any material respect the performance by the Participant of his duties and responsibilities as an employee, officer and/or director of the Company; (7) commission of any other Altair Engineering Inc. – NSO Plan Stock Restriction & Repurchase Agreement 3 Grants to Phantom Holders act or acts which substantially impairs the reputation and standing of Company with its customers or the community at large; and (8) any act or circumstance constituting “cause” for termination under applicable statutory or common law.
Termination of Employment by Company for Cause. In addition to termination pursuant to Section 5, Company may discharge Executive and thereby terminate Executive's employment hereunder for the following reasons (for "Cause"): (i) habitual intoxication; (ii) drug addiction; (iii) conviction of a felony; (iv) 15 days after written notice of continued insubordination or material violation of any rule or regulation that may be established by Company from time to time for the conduct of Company's business; (v) misappropriation of corporate funds or other acts of dishonesty; or (vi) loss by Executive of any casino or gaming license or registration or finding of suitability required in the conduct of the performance of Executive's duties hereunder. In the event that Company shall discharge Executive pursuant to Section 6, Company shall not have any further obligations or liability to Executive under this Employment Agreement, except that Company shall pay to Executive the portion, if any, of Executive's Base Salary for the period up to Executive's date of discharge which remains unpaid and the amount of any unreimbursed expenses subject to the requirements of subsection 4.5 above.
Termination of Employment by Company for Cause. Company may immediately terminate this Agreement For Cause, as defined below, upon delivery of a written notice of For Cause Termination to Executive. For Cause shall mean upon the occurrence of any of the following events:
(i) Executive’s gross negligence or material and bad faith breach of this Agreement after reasonable prior written notice from Company specifying the nature of the alleged breach or failure and warning of the consequences of a failure to correct or a repeated incident; or
(ii) Executive is convicted of, or pleads guilty or no contest to, any crime punishable as a felony or embezzlement or fraud; or
(iii) Executive engages in immoral or dishonest acts which materially and negatively affect Company.
