Common use of For Cause or Without Good Reason Clause in Contracts

For Cause or Without Good Reason. The Company may terminate Executive’s employment and all of Executive’s rights to receive Base Salary and Bonuses hereunder for Cause or upon the resignation of Executive without Good Reason. For purposes of this Agreement, the term “Cause” shall be limited to the willful commission of a felony or other act of moral turpitude which directly and demonstrably causes material, tangible harm to the Company, and “Good Reason” shall be defined as (i) demotion of Executive from the position of Chairman and President without the consent of Executive; (ii) any attempt to decrease Executive’s Base Salary or Bonuses; (iii) any breach of this Agreement by the Company; or (iv) any requirement that Executive relocate to an office more than 30 miles further from Executive’s current home address than the Company’s current office. Notwithstanding the foregoing, Executive shall not be terminated for Cause pursuant to this Section 5(c) unless and until Executive has received notice of a proposed termination for Cause and Executive has had an opportunity to be heard before at least a majority of the members of the Board. Executive shall be deemed to have had such an opportunity if given written or telephonic notice at least 72 hours in advance of a meeting. The initial determination that Cause or Good Reason exists shall be made by the Board. Any dispute regarding such determination shall be resolved in accordance with Section 20 of this Agreement.

For Cause or Without Good Reason. The Company may terminate Executive’s 's employment and all of Executive’s 's rights to receive Base Salary and Bonuses hereunder for Cause or upon the resignation of Executive without Good Reason. For purposes of this Agreement, the term “"Cause” " shall be limited to the willful commission of a felony or other act of moral turpitude which directly and demonstrably causes material, tangible harm to the Company, and “"Good Reason” " shall be defined as (i) demotion of Executive from the position of Chairman and President without the consent of Executive; (ii) any attempt to decrease Executive’s 's Base Salary or Bonuses; (iii) any breach of this Agreement by the Company; or (iv) any requirement that Executive relocate to an office more than 30 miles further from Executive’s 's current home address than the Company’s 's current office. Notwithstanding the foregoing, Executive shall not be terminated for Cause pursuant to this Section 5(c) unless and until Executive has received notice of a proposed termination for Cause and Executive has had an opportunity to be heard before at least a majority of the members of the Board. Executive shall be deemed to have had such an opportunity if given written or telephonic notice at least 72 hours in advance of a meeting. The initial determination that Cause or Good Reason exists shall be made by the Board. Any dispute regarding such determination shall be resolved in accordance with Section 20 of this Agreement.

For Cause or Without Good Reason. The Company may terminate Executive’s 's employment and all of Executive’s 's rights to receive Base Salary and Bonuses hereunder for Cause or upon the resignation of Executive without Good Reason. For purposes of this Agreement, the term “"Cause” " shall be limited to the willful commission of a felony or other act of moral turpitude which directly and demonstrably causes material, tangible harm to the Company, and “"Good Reason” " shall be defined as (i) demotion of Executive from the position of Chairman and President without the consent of Executive; (ii) any attempt to decrease Executive’s 's Base Salary or Bonuses; (iii) any breach of this Agreement by the Company; or (iv) any requirement that Executive relocate to an office more than 30 miles further from Executive’s 's current home address than the Company’s 's current office. Notwithstanding the foregoing, Executive shall not be terminated for Cause pursuant to this Section 5(c) unless and until Executive has received notice of a proposed termination for Cause and Executive has had an opportunity to be heard before at least a majority of the members of the Board. Executive shall be deemed to have had such an opportunity if given written or telephonic notice at least 72 hours in advance of a meeting. The initial determination that Cause or Good Reason exists shall be made by the Board. Any dispute regarding such determination shall be resolved in accordance with Section 20 of this Agreement.

For Cause or Without Good Reason. The Company may terminate Executive’s employment and all of Executive’s rights to receive the Base Salary and Bonuses hereunder for Cause or upon the resignation of Executive without Good Reason. For purposes of this Agreement, the term “Cause” shall be limited to the willful commission of a felony or other act of moral turpitude turpitude, which directly and demonstrably causes material, tangible harm to the Company, and . “Good Reason” shall be defined as the (i) demotion of Executive from the position of Chairman and President Chief Financial Officer; (ii) A material diminution by the Company in the Employee’s authority, duties, or responsibilities from those specified in Section 3, (iii) the Executive ceasing to communicate or report to the Board, (iv) without the consent of Executive; (ii) , any attempt to decrease Executive’s Base Salary or Bonuses; (iiiv) any breach of this Agreement by the Company; or and (ivvi) any requirement a change by the Company of the principal location at which the Executive is required to perform his duties for Company to a new location that Executive relocate to an office more than 30 miles further from is outside of Parker, Colorado, without the Executive’s current home address than the Company’s current office. consent Notwithstanding the foregoing, Executive shall should not be terminated for Cause pursuant to this Section section 5(c) unless and until Executive executive has received notice of a proposed termination for Cause and an Executive has had an opportunity to be heard before at least a the majority of the members of the Board. Executive shall be deemed to have had such an opportunity if is given written or telephonic notice at least 72 hours in advance of a the meeting. The initial determination that Cause or Good Reason exists shall be made by the Board. Any dispute regarding such determination shall be resolved in accordance with Section 20 of this Agreement.

For Cause or Without Good Reason. The Company may terminate Executive’s employment and all of Executive’s rights to receive the Base Salary and Bonuses hereunder for Cause or upon the resignation of Executive without Good Reason. For purposes of this Agreement, the term “Cause” shall be limited to the willful commission of a felony or other act of moral turpitude turpitude, which directly and demonstrably causes material, tangible harm to the Company, and . “Good Reason” shall be defined as the (i) demotion of Executive from the position of Chairman President and President Chief Executive Officer; (ii) a material diminution by the Company in the Employee’s authority, duties, or responsibilities from those specified in Section 3, (iii) the Executive ceasing to communicate or report to the Board, (iv) without the consent of Executive; (ii) , any attempt to materially decrease Executive’s Base Salary or Bonuses; (iiiv) any breach of this Agreement by the Company; or and (ivvi) any requirement a change by the Company of the principal location at which the Executive is required to perform his duties for Company to a new location that Executive relocate to an office is more than 30 twenty-five miles further from Poole, England, without the Executive’s current home address than the Company’s current officeconsent. Notwithstanding the foregoing, Executive shall should not be terminated for Cause pursuant to this Section section 5(c) unless and until Executive has received notice of a proposed termination for Cause and an Executive has had an opportunity to be heard before at least a the majority of the members of the Board. Executive shall be deemed to have had such an opportunity if is given written or telephonic notice at least 72 hours in advance of a the meeting. The initial determination that Cause or Good Reason exists shall be made by the Board. Any dispute regarding such determination shall be resolved in accordance with Section 20 of this Agreement.

For Cause or Without Good Reason. The Company company may terminate Executive’s employment and all of Executive’s Executive rights to receive Base Salary and Bonuses hereunder for Cause or upon the resignation of Executive without Good Reason. For purposes of this Agreement, the term “Cause” shall be limited to the willful commission of a felony or other act of moral turpitude turpitude, which directly and demonstrably demonstratably causes material, tangible harm to the Company, Company and “Good Reason” Reason shall be defined as the (i) demotion of Executive from the position of Chairman Chief Financial Officer; and President (ii) without the consent of Executive; (ii) Executive any attempt to decrease Executive’s Base Salary base salary or Bonusesbonuses; (iii) any breach of this Agreement agreement by the Company; company or (iv) any requirement that Executive relocate to an office more than 30 miles further from Executive’s current home address than the Company’s current officeexecutive relocate. Notwithstanding the foregoing, Executive shall should not be terminated for Cause cause pursuant to this Section section 5(c) unless and until Executive executive has received notice of a proposed termination for Cause and an Executive has had an opportunity to be heard before at least a the majority of the members of the Boardboard. Executive shall be deemed to have had such an opportunity if is given written or telephonic notice at least 72 hours in advance of a the meeting. The initial determination that Cause or Good Reason exists shall be made by the Board. Any dispute regarding such determination shall be resolved in accordance with Section 20 10 of this Agreement.

For Cause or Without Good Reason. The Company company may terminate Executive’s employment and all of Executive’s Executive rights to receive Base Salary and Bonuses hereunder for Cause or upon the resignation of Executive without Good Reason. For purposes of this Agreement, the term “Cause” shall be limited to the willful commission of a felony or other act of moral turpitude turpitude, which directly and demonstrably demonstratably causes material, tangible harm to the Company, Company and “Good Reason” Reason shall be defined as the (i) demotion of Executive from the position of Chairman President and President Chief Executive Officer; and (ii) without the consent of Executive; (ii) Executive any attempt to decrease Executive’s Base Salary base salary or Bonusesbonuses; (iii) any breach of this Agreement agreement by the Company; company or (iv) any requirement that Executive relocate to an office more than 30 miles further from Executive’s current home address than the Company’s current officeexecutive relocate. Notwithstanding the foregoing, Executive shall should not be terminated for Cause cause pursuant to this Section section 5(c) unless and until Executive executive has received notice of a proposed termination for Cause and an Executive has had an opportunity to be heard before at least a the majority of the members of the Boardboard. Executive shall be deemed to have had such an opportunity if is given written or telephonic notice at least 72 hours in advance of a the meeting. The initial determination that Cause or Good Reason exists shall be made by the Board. Any dispute regarding such determination shall be resolved in accordance with Section 20 of this Agreement.