Common use of Termination of Employment for Good Cause Clause in Contracts

Termination of Employment for Good Cause. The Company may terminate the employment of Employee for "good cause" by giving written notice thereof to Employee. For the purposes of this Agreement, "good cause" shall mean only Employee's (i) drug, alcohol or other substance abuse during regular business hours or to such extent as to materially affect the performance of Employee's duties hereunder, (ii) commission of a crime directly related to Employee's employment hereunder, (iii) conviction of a felony involving moral turpitude, (iv) negligence, gross mismanagement or willful misconduct in the management of the business and affairs of the Company or failure to perform such duties as may reasonably be directed by the Board of Directors and as may be reasonably consistent with the duties and obligations of Employee's office, or (v) breach of any material provision of this Agreement. In the event the employment of the Employee is terminated pursuant to this Paragraph 5, the Company shall have no further liability to Employee other than for compensation earned but not yet paid. In the event the Company contends that it had good cause to terminate the employment of Employee pursuant to clause (i), (ii) or (iii) of this Paragraph 5, the Company shall specify in said written notice the effective date of termination of Employee's employment, which date may, in the Company's sole discretion, be the date of such notice. In the event the Company contends that it has good cause to terminate the employment of Employee pursuant to clause (iv) or (v) of this Paragraph 5, the Company shall set forth in said written notice reasonable details of Employee's acts or conduct which the Company alleges constitutes a willful and gross mismanagement of business and affairs of the Company or a breach of material provision of this Agreement, as the case may be. The written notice shall also specify what, if anything, Employee could do to cure or eliminate the alleged "good cause" for termination if the matter is susceptible of cure. If Employee performs the required services or modifies Employee's performance to correct the matters complained of within sixty (60) days of receipt of the notice, Employee's breach will be deemed cured. However, if the nature of the matters complained of are such that more than sixty (60) days are reasonably required to correct the matters complained of, then Employee's breach will be deemed cured if Employee commences to correct such matters within the sixty (60) day period and thereafter diligently prosecutes such correction to completion, but not to exceed one additional sixty (60) day period. If Employee does not modify Employee's performance to correct or commence to correct the matter complained of within the sixty (60) day period of the extension thereof, the Company shall have the right to terminate this Agreement at the end of such (60) day period or any extension thereof. It is understood that Employee's performance hereunder shall not be deemed unsatisfactory solely on the basis of any economic performance of the Company because such performance will depend in part on a variety of factors over which Employee has little control.

Termination of Employment for Good Cause. The Company may terminate the employment of Employee for "good cause" by giving written notice thereof to Employee. For the purposes of this Agreement, "good causeCause" shall mean only Employee's (i) drug, alcohol or other substance abuse during regular business hours or to such extent as to materially affect the performance of Employee's his duties hereunder, (ii) commission of a crime directly related to Employee's his employment hereunder, (iii) conviction of a felony involving moral turpitude, (iv) gross negligence, gross mismanagement or material willful misconduct in the management of the business and affairs of the Company or failure to perform such duties as may reasonably be directed by the Board of Directors and as may be reasonably consistent with the duties and obligations of Employee's office, or (v) breach of any material provision of this Agreement. In the event the employment of the Employee is terminated pursuant to this Paragraph 5, the Company shall have no further liability to Employee other than for compensation earned but not yet paid. In the event the Company company contends that it had good cause to terminate the employment of Employee pursuant to clause (i), (ii) or (iii) of this Paragraph 5, the Company shall specify in said written notice the effective date of termination of Employee's employment, which date may, in the Company's sole discretion, be the date of such notice. In the event the Company contends that it has good cause to terminate the employment of Employee pursuant to clause (iv) or (v) of this Paragraph 5, the Company shall set forth in said written notice reasonable details of Employee's acts or conduct which the Company alleges constitutes a willful and gross mismanagement of business and affairs of the Company or a breach of material provision of this Agreement, as the case may be. The written notice shall Shall also specify what, if anything, Employee could do to cure or eliminate the alleged "good cause" for termination if the matter is susceptible of cure. If Employee performs the required services or modifies Employee's performance to correct the matters complained of within sixty (60) days of receipt of the notice, Employee's breach will be deemed cured. However, if the nature of the matters complained of are such that more than sixty (60) days are reasonably required to correct the matters complained of, then Employee's his breach will be deemed cured if Employee he commences to correct such matters within the sixty (60) day period and thereafter diligently prosecutes such correction to completion, but not to exceed one additional sixty (60) day period. If Employee does not modify Employee's his performance to correct or commence to correct the matter complained of within the sixty (60) day period of the or any extension thereof, the Company shall have the right to terminate this Agreement at the end of such sixty (60) day period or any extension thereof. It is understood that Employee's performance hereunder shall not be deemed unsatisfactory solely on the basis of any economic performance of the Company because such performance will depend in part on a variety of factors over which Employee has little control.

Termination of Employment for Good Cause. The Company may terminate the employment of Employee for "good cause" by giving written notice thereof to Employee. For the purposes of this Agreement, "good cause" shall mean only Employee's (i) drug, alcohol or other substance abuse during regular business hours or to such extent as to materially affect the performance of Employee's his duties hereunder, (ii) commission of a crime directly related to Employee's his employment hereunder, (iii) conviction of a felony involving moral turpitude, (iv) negligence, gross mismanagement or willful misconduct in the management of the business and affairs of the Company or failure to perform such duties as may reasonably be directed by the Board of Directors and as may be reasonably consistent with the duties and obligations of Employee's office, or (v) breach of any material provision of this Agreement. In the event the employment of the Employee is terminated pursuant to this Paragraph Section 5, the Company shall have no further liability to Employee other than for compensation earned but not yet paid. In the event the Company contends that it had good cause to terminate the employment of Employee pursuant to clause (i), (ii) or (iii) of this Paragraph Section 5, the Company shall specify in said written notice the effective date of termination of Employee's employment, which date may, in the Company's sole discretion, be the date of such notice. In the event the Company contends that it has good cause to terminate the employment of Employee pursuant to clause (iv) or (v) of this Paragraph Section 5, the Company shall set forth in said written notice reasonable details of Employee's acts or conduct which the Company alleges constitutes a willful and gross mismanagement of business and affairs of the Company or a breach of material provision of this Agreement, as the case may be. The written notice shall also specify what, if anything, Employee could do to cure or eliminate the alleged "good cause" for termination if the matter is susceptible of cure. If Employee performs the required services or modifies Employee's performance to correct the matters complained of within sixty (60) days of receipt of the notice, Employee's breach will be deemed cured. However, if the nature of the matters complained of are such that more than sixty (60) days are reasonably required to correct the matters complained of, then Employee's his breach will be deemed cured if Employee he commences to correct such matters within the sixty (60) day period and thereafter diligently prosecutes such correction to completion, but not to exceed one additional sixty (60) day period. If Employee does not modify Employee's performance to correct or commence to correct the matter complained of within the sixty (60) day period of the extension thereof, the Company shall have the right to terminate this Agreement at the end of such (60) day period or any extension thereof. It is understood that Employee's performance hereunder shall not be deemed unsatisfactory solely on the basis of any economic performance of the Company because such performance will depend in part on a variety of factors over which Employee has little control.the

Termination of Employment for Good Cause. The Company may terminate the employment of Employee for "good cause" by giving written notice thereof to Employee. For the purposes of this Agreement, "good cause" shall mean only Employee's (i) drug, alcohol or other substance abuse during regular business hours or to such extent as to materially affect the performance of Employee's his duties hereunder, (ii) commission of a crime directly related to Employee's his employment hereunder, (iii) conviction of a felony involving moral turpitude, (iv) negligence, gross mismanagement or willful misconduct in the management of the business and affairs of the Company or failure to perform such duties as may reasonably be directed by the Board of Directors and as may be reasonably consistent with the duties and obligations of Employee's office, or (v) breach of any material provision of this Agreement. In the event the employment of the Employee is terminated pursuant to this Paragraph Section 5, the Company shall have no further liability to Employee other than for compensation earned but not yet paid. In the event the Company contends that it had good cause to terminate the employment of Employee pursuant to clause (i), (ii) or (iii) of this Paragraph Section 5, the Company shall specify in said written notice the effective date of termination of Employee's employment, which date may, in the Company's sole discretion, be the date of such notice. In the event the Company contends that it has good cause to terminate the employment of Employee pursuant to clause (iv) or (v) of this Paragraph Section 5, the Company shall set forth in said written notice reasonable details of Employee's acts or conduct which the Company alleges constitutes a willful and gross mismanagement of business and affairs of the Company or a breach of material provision of this Agreement, as the case may be. The written notice shall also specify what, if anything, Employee could do to cure or eliminate the alleged "good cause" for termination if the matter is susceptible of cure. If Employee performs the required services or modifies Employee's performance to correct the matters complained of within sixty (60) days of receipt of the notice, Employee's breach will be deemed cured. However, if the nature of the matters complained of are such that more than sixty (60) days are reasonably required to correct the matters complained of, then Employee's breach will be deemed cured if Employee commences to correct such matters within the sixty (60) day period and thereafter diligently prosecutes such correction to completion, but not to exceed one additional sixty (60) day period. If Employee does not modify Employee's performance to correct or commence to correct the matter complained of within the sixty (60) day period of the extension thereof, the Company shall have the right to terminate this Agreement at the end of such (60) day period or any extension thereof. It is understood that Employee's performance hereunder shall not be deemed unsatisfactory solely on the basis of any economic performance of the Company because such performance will depend in part on a variety of factors over which Employee has little control.,