Discharged for Cause definition

Discharged for Cause means discharge from employment because of a conviction of a felony or for dishonesty, theft, disclosing trade secrets of the Corporation or any Subsidiary, entering into competition, directly or indirectly, with the Corporation or any Subsidiary while employed, or using the Corporation's or any Subsidiary's facilities or premises for the conduct of illegal or unlawful activities, transactions or business. The Option will not be affected by any change of duties or position of the Optionee so long as he or she continues to be an employee of the Corporation or any Subsidiary. If the Optionee is granted a temporary leave of absence (including leave to enter the employ of a government, or any department, agency or instrumentality thereof), such leave of absence will be deemed a continuation of his or her employment by the Corporation or any Subsidiary, but only if and so long as the employing corporation consents thereto. Retirement will be deemed to be a termination of employment for all purposes of this Agreement. If the Corporation enters into an agreement providing for the sale of all, or substantially all, of the assets of the Corporation, or a merger, consolidation or reorganization in which the Corporation is not the surviving corporation, or the transfer of shares of the Corporation representing more than 50% of the total combined voting power of all shares in one or more transactions to a person or persons acting as a group for voting purposes, the Optionee shall have the right to exercise the Option in whole or in part as to such number of additional shares then subject to the Option and not then exercisable as the Board of Directors of the Corporation or the Compensation Committee thereof may, in its sole discretion, permit on the effective date of such sale, merger, consolidation or reorganization or transfer.

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Discharged for Cause means the termination of the Executive's employment by the Company by reason of chronic insubordination, fraud, embezzlement, dishonesty or defalcation in connection with his employment or any one or more transactions with the Company.

Discharged for Cause means the termination of employment or consultation for any of the following reasons: dishonesty of the Employee

Examples of Discharged for Cause in a sentence

Should the Executive be Discharged for Cause at any time, all benefits under this Executive Plan shall be forfeited.
Should the Director be Discharged for Cause at any time, all benefits under this Director Plan shall be forfeited.
Not withstanding anything to the contrary, in the event the Executive shall be Discharged for Cause at any time, this Agreement shall terminate and all benefits provided herein shall be forfeited.
If the Participant is Discharged for Cause, all rights under this Agreement shall expire upon the date of termination.
If the Participant is Discharged for Cause, Participant’s Benefit is forfeited.
If during the Initial Term, Executive (i) is Discharged for Cause or (ii) resigns his employment under circumstances that are not a Termination for Good Reason, then Executive will be obligated to repay the entire Relocation Bonus and, by Executive’s signature below, Executive authorizes the Company to withhold the amount due, in whole or in part, from any final wages, compensation, bonus, accrued vacation, or other payment due to Executive upon termination.
Should the Executive be Discharged for Cause at any time, all benefits under this Plan shall be forfeited.
Should the Executive suffer a Termination of Service for any reason other than disability as set forth in Subparagraph II(F), prior to attaining age sixty-five (65), or prior to attaining age sixty-two (62), sixty-three (63) or sixty-four (64) AND completing thirty (30) full years of employment with the Bank from the date of first employment, or be Discharged for Cause at any time, all benefits under this Executive Plan shall be forfeited.
In the event the Executive shall be Discharged for Cause, at any time, all benefits provided herein shall be forfeited.
Should the Executive suffer a Termination of Service prior to serving five (5) full years with the Bank from the Effective Date of this Agreement, or be Discharged for Cause at any time, all benefits under this Executive Plan shall be forfeited.

More Definitions of Discharged for Cause

Discharged for Cause means the cessation of Employee's employment by the Company for (i) chronic insubordination; (ii) fraud; (iii) embezzlement; (iv) dishonesty; (v) gross neglect or dereliction of duty; (vi) conduct that has or may cause serious injury to the Company (monetary or otherwise), as determined by the Board of Directors of the Company; or (vii) conviction of, or pleading guilty or no contest to, a felony, or any lesser crime which involves property of the Company.

Discharged for Cause means the termination of employment or consultation for any of the following reasons: dishonesty of the Employee with respect to the Company; willful misfeasance or nonfeasance of duty intended to injure or having the effect of injuring the reputation, business or business relationships of the Corporation or its respective officers, directors or employees; upon a charge by a governmental entity against the Employee of any crime involving moral turpitude or which could reflect unfavorably upon the Corporation or upon the filing of any civil action involving a charge of embezzlement, theft, fraud or other similar act; willful or prolonged absence from work by the Employee (other than by reason of Disability) or failure, neglect or refusal by the Employee to perform his or her duties and responsibilities without the same being corrected upon ten (10) days prior written notice; or breach by the Employee of any of the covenants contained in an employment agreement with the Corporation. If the Employee has a written employment agreement with the Corporation which contains a specific definition of "Discharged for Cause" or "Cause", then that definition shall control.