Common use of Termination by the Company for Breach Clause in Contracts

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.

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 13.3 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 13.3 of this Agreement, the Employee will receive all of the benefits provided in Section 15(iii14(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 5.3 or 15(iii14(iii) of this Agreement.

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 intentionally performs his duties in bad faith under this Agreement which results in a breach of Agreement, or breaches his fiduciary duty to the Company, to the Board of Directors or to the Company’s 's shareholders; provided, however, that the Company will shall 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 13.3 of this Agreement. Employee will shall have a period of thirty (30) 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) 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) 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 13.3 of this Agreement, the Employee will shall receive all of the benefits provided in Section 15(iii14(iii) of this Agreement, regardless of the terms and conditions of the Company’s 's Stock Option Plan or any existing stock option agreements or any amendments thereto governing the options described in Sections 6.3 or 15(iiiSection 14(iii) of this Agreement.

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 intentionally performs his duties in bad faith under this Agreement which results in a breach of 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 will shall 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 13.3 of this Agreement. Employee will shall have a period of thirty (30) 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) 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) 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 13.3 of this Agreement, the Employee will shall receive all of the benefits provided in Section 15(iii14(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(iiiSection 14(iii) of this Agreement.

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 intentionally performs his duties in bad faith under this Agreement which results in a breach of 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 will shall 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 13.3 of this Agreement. Employee will shall 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 13.3 of this Agreement, the Employee will shall receive all of the benefits provided in Section 15(iii14(c) 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(iiiSection 14(c) of this Agreement. In the event of the Employee’s termination by the Company for breach under this Section, the Employee will receive any accrued and unpaid salary through the date of such termination, and accrued but unpaid bonus, if any, with respect to the year of termination and/or the prior year, if such bonus remains unpaid as of the date of termination, paid in a single cash payment, in accordance with the Company’s regular payroll practice for the Employee.