Serious Cause means (i) the willful and continued failure by the Employee to perform substantially his duties hereunder, other than by reasons of health, after demand for substantial performance is delivered by the Company that identifies the manner in which the Company believes the Employee has not substantially performed his duties; (ii) the Employee will have been indicted by any federal, state or local authority in any jurisdiction for, or will have pleaded guilty or nolo contendere to, an act constituting a felony, (iii) the Employee will have habitually abused any controlled substance (such as narcotics or alcohol), or (iv) the Employee will have (A) engaged in acts of fraud, material dishonesty or gross misconduct in connection with the business of the Company, or (B) committed a material breach of this Agreement.
Serious Cause means (i) the willful and continued failure by the Employee to perform substantially his duties hereunder, other than by reasons of health, for a period of more than 30 days after demand for substantial performance has been delivered by the Company and the Operating Company that identifies the manner in which the Company and the Operating Company believe the Employee has not performed his duties, (ii) the Employee shall have been indicted by any federal, state or local authority in any jurisdiction for, or shall have pleaded guilty or nolo contendere to, an act constituting a felony, (iii) the Employee shall have habitually abused any substance (such as narcotics or alcohol), or (iv) the Employee shall have (A) engaged in acts of fraud, material dishonesty or gross misconduct in connection with the business of the Company and the Operating Company or (B) committed a material breach of this Agreement.
Serious Cause means "Cause" limited to the definition set forth in Section 21(b)(ii).
Examples of Serious Cause in a sentence
Except as otherwise provided herein, your employment with Avient is expected to continue from the Effective Date until the first to occur of: (i) the Retirement Date; (ii) your death; (iii) your disability; (iv) an earlier voluntary termination of your employment by you; (v) an involuntary termination of your employment by Avient for Serious Cause (as defined below); or (vi) an involuntary termination of your employment by Avient without Serious Cause (as defined above) (the “Employment Period”).
You will be considered to have a “Qualifying Separation from Service” if your employment with Avient and its subsidiaries and affiliates terminates for any reason after the Effective Date other than (x) if it is involuntarily terminated by Avient for Serious Cause (as defined below), or (y) if you voluntarily terminate your employment before the Retirement Date.
More Definitions of Serious Cause
Serious Cause means any of the following reasons that remains uncured (if curable) for 10 days after the Employee’s receipt of written notice thereof: (i) gross misconduct or gross neglect of duties related to the Company; (ii) the Employee’s fraud, embezzlement, or misappropriation of any property or proprietary information of the Company by Employee; (iii) the Employee’s conviction of, or plea of nolo contendere to, a felony or other crime involving moral turpitude (other than as a result of a traffic violation); or (iv) a material breach by the Employee of any provision of this Agreement or any other material breach of any agreement entered into with the Company.
Serious Cause means felony indictment or conviction, indictment or conviction for a crime involving moral turpitude, theft, or dishonesty, breach of fiduciary duty to the Corporation, intentional disclosure of trade secrets or other confidential or proprietary information of a material nature detrimental to the Corporation.
Serious Cause as used in this Option shall have the same meaning as set forth on Schedule 3.1 to the Exchange Agreement. "Cause" as used in this Option means any reason for termination other than serious cause.
Serious Cause has the meaning set forth in paragraph 4.2 of this Agreement.
Serious Cause is defined on SCHEDULE 2.1 to this Agreement. The term "cause" means any reason for termination by the Company other than serious cause. The Company is required to redeem Exchange Shares of any Executive whose employment with the Company terminates during the Period, and this redemption right shall not be waived, surrendered, forgiven or in any manner given up by the Company. Any officer or director of the Company who does or attempts to do so or who fails to vigorously pursue redemption when applicable shall be liable to the Company. This Section is intended for the protection of existing shareholders of the Company and persons who become shareholders of the Company during the Period. The parties expressly agree that all shareholders of the Company at the time an Executive's employment with the Company terminates during the Period are and shall be third party beneficiaries of this provision. Any one or more of such shareholders may bring an action to compel the Company to redeem Exchange Shares when redemption is required by this Section and/or to recover on the Company's behalf any damages suffered by failing to redeem Exchange Shares when required hereunder. A shareholder prevailing in such action shall be entitled to reimbursement from the Company for costs and reasonable attorneys' fees incurred in bringing such action(s). Notwithstanding anything to the contrary contained in this Section, the Company and its officers and directors shall be excused from pursuing any redemption required by this Section if redemption is excused by affirmative vote of a majority of the Company's shareholders other than the Executives, who shall not vote or have the right to vote on any such proposal. This Section 2.1 shall not constitute an employment agreement, and no provision of this Section 2.1 shall in and of itself entitle any Executive to continued employment with the Company.
Serious Cause means (i) the willful and continued failure by the Employee to perform substantially his duties hereunder, other than by reasons of health, after demand
Serious Cause means (i) the willful and continued failure by the Employee to perform substantially his duties hereunder, other than by reasons of health, after written demand for substantial performance is delivered by the Group that identifies the manner in which the Group believes the Employee has not substantially performed his duties, (ii) the employee shall have been indicted by any federal, state or local authority in any jurisdiction for, or shall have pleaded guilty or nolo contender to, an act constituting a felony, (ii) the Employee shall have habitually abused any substance (such as narcotics or alcohol), or (iv) the Employee shall have (A) engaged in acts of fraud, material dishonesty or gross misconduct in connection with the business of the Group or (B) committed a material breach of this agreement.