Common use of No Benefits Payable Upon Termination for Cause Clause in Contracts

No Benefits Payable Upon Termination for Cause. Notwithstanding anything contained herein to the contrary, no SERP Benefits shall be payable to the Participant if his or her employment with the Employer is terminated for Cause, regardless of whether the Participant would otherwise be vested in his or her SERP Benefit. For purposes hereof, a Participant whose employment is terminated for any of the following reasons shall be regarded as having been terminated for “Cause”:

No Benefits Payable Upon Termination for Cause. Notwithstanding anything contained herein to the contrary, no SERP Benefits shall be payable to the Participant if his or her employment with the Employer is terminated for Cause, regardless of whether the Participant would otherwise be vested in his or her SERP Benefit. For purposes hereof, a Participant whose employment is terminated for any of the following reasons shall be regarded as having been terminated for “Cause”: