D Cause Sample Clauses

D Cause. This Agreement may be terminated at the Company's option, immediately upon written notice to the Executive, upon (i) "Misconduct" which includes, but is not limited to, the following, which shall not be construed in pari materia with each other: (a) Conduct evincing such willful or wanton disregard of an employer's interests as is found by the Company's Board of Directors to be in deliberate violation or disregard of standards of behavior which the employer has the right to expect of the Executive; or (b) Carelessness or negligence of such a degree or recurrence as is found by the Company's Board of Directors to manifest culpability, wrongful intent, or evil design, or to show an intentional and substantial disregard of an employer's interests or of the Executive's duties and obligations to the employer, or (ii) fraud, criminal conduct (as evidenced by a plea of no contest or guilty or upon conviction of the Executive for any felony) or embezzlement by the Executive. In the event that Executive is terminated for cause, he shall be paid by the Company all compensation and benefits due through the date of written notice of termination, including without limitation all stock option benefits vested prior to the date of written notice of termination hereunder. All stock options vested as of the date Executive's employment is terminated for cause shall remain exercisable for the full duration of the option exercise period.