Common use of Termination of Full-Time Employment for Cause Clause in Contracts

Termination of Full-Time Employment for Cause. The Company may at any time terminate Executive's full-time employment hereunder for "Cause." For the purposes of this Amended Agreement "Cause" shall mean (i) Executive's gross negligence or willful misconduct in connection with the performance of his duties, (ii) Executive's conviction of or plea of nolo contendere to, any felony in a court of competent jurisdiction, or (iii) Executive's embezzlement or misappropriation of Company property. If the Executive's full-time employment is terminated by the Company for Cause, then, subject to Executive entering into a release of claims agreement with the Company in a form reasonably approved by the Company (the "Release"), the Executive will receive a lump-sum payment equal to 25% of Base Salary and Executive shall not be entitled to any other benefits hereunder.

Termination of Full-Time Employment for Cause. The Company may at any time terminate Executive's ’s full-time employment hereunder for "“Cause." ” For the purposes of this Amended Agreement "“Cause" ” shall mean (i) Executive's ’s gross negligence or willful misconduct in connection with the performance of his duties, (ii) Executive's ’s conviction of or plea of nolo contendere to, any felony in a court of competent jurisdiction, or (iii) Executive's ’s embezzlement or misappropriation of Company property. If the Executive's ’s full-time employment is terminated by the Company for Cause, then, subject to Executive entering into and not revoking a release of claims agreement with the Company substantially in a the form reasonably approved by the Company attached hereto as Exhibit A (the "“Release"”), the Executive will receive a lump-sum payment equal to 25% of Base Salary and Executive shall not be entitled to any other benefits hereunder.

Termination of Full-Time Employment for Cause. The Company may at any time terminate Executive's full-time employment hereunder for "Cause." For the purposes of this Amended Agreement "Cause" shall mean (i) Executive's gross negligence or willful misconduct in connection with the performance of his duties, (ii) Executive's conviction of or plea of nolo contendere to, any felony in a court of competent jurisdiction, or (iii) Executive's embezzlement or misappropriation of Company property. If the Executive's full-time employment is terminated by the Company for Cause, then, subject to Executive entering into a release of claims agreement with the Company in a form reasonably approved by the Company (the "Release"), the Executive will receive a lump-sum payment equal to 25% twenty-five percent of Base Salary and Executive shall not be entitled to any other benefits hereunder.