Termination by the Company for Breach Sample Clauses

Termination by the Company for Breach. The Company may at its option also terminate this Agreement in the event that the Employee acts in gross negligence in the performance of his duties under this Agreement which results in a breach of his fiduciary duty to the Company, to the Board of Directors or to the Company’s shareholders; provided, however, that the Company will give the Employee written notice of specific instances for the basis of any termination of this Agreement by the Company pursuant to Section 14.3 of this Agreement. Employee will have a period of thirty (30) days after said notice in which to cease the alleged violations before the Company may terminate this Agreement. If Employee ceases to commit the alleged violations within said thirty (30) day period, the Company may not terminate this Agreement pursuant to this Section. If Employee continues to commit the alleged violations after said thirty (30) day period, the Company may terminate this Agreement immediately upon written notification to Employee. Notwithstanding anything else herein to the contrary, if the Employee is removed pursuant to Section 14.3 of this Agreement, the Employee will receive all of the benefits provided in Section 15(iii) of this Agreement, regardless of the terms and conditions of the Company’s Stock Option Plan or any existing stock option agreements or any amendments thereto governing the options described in Sections 6.3 or 15(iii) of this Agreement.
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Termination by the Company for Breach. The Company may at its option terminate this Agreement in the event that the Employee breaches this Agreement, is convicted of committing a felony under federal, state or local law, commits gross negligence in the performance of his duties under this Agreement, or breaches his fiduciary duty to the Company, to the Board of Directors or to the Company’s shareholders; provided, however, that the Company shall give the Employee written notice of specific instances for the basis of any termination of this Agreement by the Company pursuant to Section 15.3 of this Agreement. Employee shall have a period of 10 days after said notice in which to cease the alleged violations before the Company may terminate this Agreement. If Employee ceases to commit the alleged violations within said 10 day period, the Company may not terminate this Agreement pursuant to this Section. If Employee continues to commit the alleged violations after said 10-day period, the Company may terminate this Agreement immediately upon written notification to Employee.
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Termination by the Company for Breach. FASTRAXX may terminate this Agreement in the event that Employee commits gross negligence in the performance of his duties under this Agreement or breaches his fiduciary duty to FASTRAXX, to the LLC Manager or to FASTRAXX's owners; provided, however, that in the event the termination is to be by reason of Employee's gross negligence, FASTRAXX shall give Employee written notice of specific instances for the basis of any termination of this Agreement by FASTRAXX pursuant to this section. Employee shall have a period of 30 days after said notice in which to cease and correct the alleged gross negligence before FASTRAXX may terminate this agreement. If Employee ceases to commit and corrects the alleged gross negligence within said 30 day period, FASTRAXX may not terminate this Agreement pursuant to this section. Otherwise, FASTRAXX may terminate this Agreement immediately upon a second notification to Employee.
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Termination by the Company for Breach. The Company may terminate this Agreement, to the extent not performed, if there shall not have been a material uncured breach by the Company of any representation, warranty, covenant or agreement set forth herein and there shall have been a material breach by the Parent of any representation, warranty, covenant, or agreement set forth herein, which breach shall have or reasonably be expected to have a Material Adverse Effect on Parent and shall not have been cured within 30 days of the Parent's receipt of written notice specifying Parent's breach and the Company's intention to terminate this Agreement pursuant to this Section 7.1.
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Termination by the Company for Breach. This Agreement may be terminated by the Company if at any time prior to the Closing there shall occur a breach of any of the representations, warranties or covenants of the Buyer hereunder, and such breach (i) individually or in combination with any other such breach, would cause the condition set forth in Section 5.3(a) not to be satisfied and (ii) is not cured within ten (10) business days following delivery by the Company to the Buyer of written notice of such breach.
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Termination by the Company for Breach a. The Company may at its option immediately terminate this Agreement in the event Employee commits gross negligence in the performance of his duties under this Agreement, or breaches his fiduciary duty to the Company, to the Board of Directors or to the Company's shareholders.
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Related to Termination by the Company for Breach

  • Termination by the Company for Cause The Executive’s employment under this Agreement may be terminated by the Company for Cause at any time upon written notice to the Executive without further liability on the part of the Company. For purposes of this Agreement, a termination shall be for Cause if:

  • Termination by the Company This Agreement may be terminated by the Company at any time prior to the Effective Time:

  • Termination by the Company for Good Cause The Company shall have the right to terminate the employment of the Executive for Good Cause (as such term is defined herein) by written notice to the Executive specifying the particulars of the circumstances forming the basis for such Good Cause.

  • Termination by the Company Other than for Cause Termination by the Company of the Executive’s employment for any reason other than for Cause, death or Disability. For purposes of this Agreement, “Cause” shall mean, as determined by the Board:

  • Other Termination by the Company If the Company terminates Executive's employment without Cause before this Agreement terminates, or Executive terminates his employment for Good Reason (defined below), the Company will pay Executive for the remainder of the Term the compensation and other benefits he would have been entitled to if his employment had not terminated.

  • Termination by the Bank for Cause After the occurrence of any of the conditions specified in Section 7.1, the Bank shall have the right to terminate the Term for Cause on written notice to Executive, effective immediately.

  • Termination by the Sellers The Sellers may terminate the Agreement in the event either Purchaser or the Guarantor (if any of the proceedings with respect to the Guarantor in the following clauses (i) through (iv) below would reasonably be expected to impair the ability of either Purchaser to perform its obligations under the Agreement (including Article 8 of the Agreement and this Annex A) fully and on a timely basis) (i) becomes the subject of any bankruptcy or other proceeding relating to its liquidation or insolvency (if not dismissed within sixty (60) days of initial filing), or is the subject of a receivership or conservatorship, (ii) files a voluntary petition in bankruptcy or similar proceeding or admits in writing its inability to pay its debts as they become due, (iii) makes a general assignment for the benefit of creditors, or (iv) files a petition or an answer seeking reorganization or an arrangement with creditors.

  • Termination of Employment by the Company for Cause The Company may terminate the Executive’s employment for Cause during the Term upon written notice to the Executive. If the Executive’s employment is so terminated by the Company, the Term shall end as of the Date of Termination and the Executive shall thereupon be entitled solely to the following:

  • Termination by the Company for Cause or by the Executive without Good Reason The Company may terminate the Executive’s employment pursuant to the terms of this Agreement at any time for Cause (as defined below) by giving the Executive written notice of termination. Such termination shall become effective upon the giving of such notice. Upon any such termination for Cause, or in the event the Executive terminates his employment with the Company without Good Reason (as defined in Section 6(c)), then the Executive shall have no right to compensation, or reimbursement under Section 4, or to participate in any Executive benefit programs under Section 5, except as may otherwise be provided for by law, for any period subsequent to the effective date of termination. For purposes of this Agreement, “Cause” shall mean: (i) the Executive is convicted of, or pleads guilty or nolo contendere to, a felony related to the business of the Company; (ii) the Executive, in carrying out his duties hereunder, has acted with gross negligence or intentional misconduct resulting, in any case, in material harm to the Company; (iii) the Executive misappropriates Company funds or otherwise defrauds the Company including a material amount of money or property; (iv) the Executive breaches his fiduciary duty to the Company resulting in material profit to him, directly or indirectly; (v) the Executive materially breaches any agreement with the Company and fails to cure such breach within 10 days of receipt of notice, unless the act is incapable of being cured; (vi) the Executive breaches any provision of Section 8 or Section 9; (vii) the Executive becomes subject to a preliminary or permanent injunction issued by a United States District Court enjoining the Executive from violating any securities law administered or regulated by the SEC; (viii) the Executive becomes subject to a cease and desist order or other order issued by the SEC after an opportunity for a hearing; (ix) the Executive refuses to carry out a resolution adopted by the Company’s Board at a meeting in which the Executive was offered a reasonable opportunity to argue that the resolution should not be adopted; or (x) the Executive abuses alcohol or drugs in a manner that interferes with the successful performance of his duties.

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