Termination; Default. In the event that Company fails to perform a material provision of this Agreement and such failure continues for 30 days after notification from Executive, the Executive may terminate this Agreement by notice to the Company. Company may terminate this Agreement upon Executive's material default. Executive's material default shall mean (a) Executive's willful and continued failure to perform the requirements of his duties hereunder or as directed by the Company's president or its board of directors (other than as a result of total or partial incapacity due to physical or mental illness) for 30 days after a written demand is delivered to Executive on behalf of Company which specifically identifies the manner in which it is alleged that Executive has not substantially performed his duties, (b) Executive's dishonesty in the performance of his duties hereunder, (c) an act or acts on Executive's part involving moral turpitude or constituting a felony under the laws of the United States or any state thereof, (d) any other act or omission which materially injures the financial condition or business reputation of Company or any of its subsidiaries or affiliates, or (e) Executive's material breach of his non-compete and confidentiality obligations under paragraphs 4 and/or 13 of this Agreement, respectively. Any termination shall be without prejudice to any rights or remedies which Executive or Company may have.
Appears in 5 contracts
Samples: Employment and Non Compete Agreement (Windsortech Inc), Employment and Non Compete Agreement (Windsortech Inc), Employment and Non Compete Agreement (Windsortech Inc)
