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

Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, “Cause” shall mean (i) a failure by Executive to perform any of his material obligations under this Agreement or to execute and perform in a timely and cooperative manner any directions of the Board; (ii) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Company; provided, however, that prior to termination for cause arising under clause (i), Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any notice of termination provided by Company to Executive under this Section 6.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure the same if such default is a failure by Executive to perform any of his material obligations under this Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled to receive only the Base Salary and any unearned Incentive Compensation (as defined in Section 4.1 above) then in effect, prorated to the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Genesis Biopharma, Inc), Executive Employment Agreement (Lion Biotechnologies, Inc.)

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Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, “Cause” shall mean (i) a failure by Executive to perform any of his material obligations under this Agreement or to execute and perform in a timely and cooperative manner any directions of the Board; (ii) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Company; provided, however, that prior to termination for cause arising under clause (i), Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any notice of termination provided by Company to Executive under this Section 6.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure the same if such default is a failure by Executive to perform any of his material obligations under this Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled to receive only the Base Salary and any unearned earned Incentive Compensation (as defined in Section 4.1 4.4 above) then in effect, prorated to the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 2 contracts

Samples: Executive Employment Agreement (Lion Biotechnologies, Inc.), Executive Employment Agreement (Lion Biotechnologies, Inc.)

Termination for Cause by the Company. The Company may terminate the Executive’s employment immediately under this Agreement at any time for Cause (as defined below). Upon such termination, the Company shall have no further obligation to the Executive hereunder except for the payment of (i) the portion of the Base Salary for periods prior to the effective date of termination accrued but unpaid (if any), and without notice (ii) all unreimbursed expenses, subject to Section 2(d). For the avoidance of doubt, the Executive shall have no right to receive any amounts under the Company's severance policy upon his termination for Cause.” . For purposes of this Agreement, "Cause" shall mean be defined as (i1) a gross negligence in the performance of the material responsibilities of the Executive’s office or position; (2) gross misconduct in the performance of the material responsibilities of the Executive’s office or position, including, without limitation, malfeasance relating to the Company and/or vendor and customer accounts and insubordination; (3) material failure or refusal by the Executive to perform any his core job duties, as such may be reasonably assigned to him from time to time, other than by reason of his death or disability, or other acts or omissions constituting material obligations under this Agreement neglect or to execute and perform in a timely and cooperative manner any directions dereliction of his such duties; (4) the conviction of the Board; Executive by a court of competent jurisdiction (iiand after all appeal procedures have been exhausted or have expired) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonestyof, or falsification the entry of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any a plea of guilty or nolo contenderecontendere by the Executive to a charge of, the commission of a crime that constitutes a felony under federal or state law or the equivalent under foreign law; (5) the Executive's embezzlement or intentional misappropriation of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation property of the Company; provided(6) the Executive having divulged, howeverfurnished or made accessible to anyone other than the Company, its directors, officers, employees, auditors and legal advisors, otherwise than in the ordinary course of business, any Confidential Information (as hereinafter defined); (7) fraud, dishonesty or other acts or omissions by the Executive that prior constitute a willful breach of his fiduciary duty to termination for cause arising the Company; or (8) the happening of any other event which, under clause (i)the provisions of applicable law, disqualifies the Executive from acting in any or all capacities in which he is then acting. The Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any be given notice of the termination provided by Company to Executive of his employment for Cause under this Section 6.1 shall identify 3(a). If the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure the same if such default is a failure by Executive to perform any of his material obligations under this Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled terminated pursuant to receive only clause (1), (2) or (3) of this Section 3(a), the Base Salary and any unearned Incentive Compensation (Executive shall be given a reasonable period of time, not to exceed 30 days, to correct the underlying act or omission. In all other cases, termination shall be effective as defined in Section 4.1 above) then in effect, prorated to of the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguishednotice is given.

Appears in 2 contracts

Samples: Employment Agreement (Phillips Van Heusen Corp /De/), Employment Agreement (Phillips Van Heusen Corp /De/)

Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, “Cause” shall mean (i) a failure material breach by Executive to perform any of his material obligations under this Agreement or the Non-Disclosure Agreement (provided, however, that prior to execute and perform in termination for cause under this clause (i), Executive shall have a timely and cooperative manner any directions period of ten days after written notice from the BoardCompany to cure the event or grounds constituting such cause, if such event can be cured); (ii) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Company; or (vi) Executive’s continued and repeated failure to perform his duties in a manner, and at the level, requested by the Chief Executive Officer (provided, however, that prior to termination for cause arising under this clause (ivi), Executive shall have a period been given prior notice of ten days after written notice from the Company to cure the event or grounds constituting Executive’s performance deficiency(ies) and reasonable direction for correcting such causedeficiency(ies)). Any notice of termination provided by Company to Executive under this Section 6.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure cure, if curable, the same if such default is a failure material breach by Executive to perform any of his material obligations under this Agreement or the Non-Disclosure Agreement. In the event Executive’s employment is terminated in accordance with this subsection Section 6.1, Executive shall be entitled to receive only the Base Salary and any unearned Incentive Compensation (as defined in Section 4.1 above) then in effect, prorated to the date of terminationSalary. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 1 contract

Samples: Executive Employment Agreement (Lion Biotechnologies, Inc.)

Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, “Cause” shall mean (i) a failure material breach by Executive to perform any of his material obligations under this Agreement or to execute and perform in a timely and cooperative manner any directions of the BoardNon-Disclosure Agreement; (ii) the death of Executive or his her disability resulting in his her inability to perform his her reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Company; provided, however, that prior to termination for cause arising under clause (i), Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any notice of termination provided by Company to Executive under this Section 6.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure cure, if curable, the same if such default is a failure material breach by Executive to perform any of his material obligations under this Agreement of the Non-Disclosure Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled to receive only the Base Salary and any unearned earned Incentive Compensation (as defined in Section 4.1 4.3 above) then in effect, prorated to the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 1 contract

Samples: Executive Employment Agreement (Lion Biotechnologies, Inc.)

Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, “Cause” shall mean (i) a failure by Executive to perform any of his her material obligations under this Agreement or to execute and perform in a timely and cooperative manner any directions of the Board; (ii) the death of Executive or his her disability resulting in his her inability to perform his her reasonable duties assigned hereunder for a period of 180 90 days; (iii) Executive’s theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Company; provided, however, that prior to termination for cause arising under clause (i), Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any notice of termination provided by Company to Executive under this Section 6.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure the same if such default is a failure by Executive to perform any of his her material obligations under this Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled to receive only the Base Salary and any unearned earned Incentive Compensation (as defined in Section 4.1 4.4 above) then in effect, prorated to the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 1 contract

Samples: Executive Employment Agreement (Lion Biotechnologies, Inc.)

Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, “Cause” shall mean (i) a failure by Executive to perform any of his her material obligations under this Agreement or to execute and perform in a timely and cooperative manner any directions of the BoardAgreement; (ii) the death of Executive or his her disability resulting in his her inability to perform his her reasonable duties assigned hereunder for a consecutive period of 180 90 days; (iii) Executive’s theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Company; provided, however, that prior to termination for cause arising Cause under clause (i)) of this paragraph, Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any notice of termination provided by Company to Executive under this Section 6.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure the same if such default is a failure by Executive to perform any of his her material obligations under this Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled to receive only the Base Salary and any unearned earned Incentive Compensation (as defined in Section 4.1 4.4 above) then in effect, prorated to the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 1 contract

Samples: Executive Employment Agreement (Lion Biotechnologies, Inc.)

Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, “Cause” shall mean (i) a failure material breach by Executive to perform any of his material obligations under this Agreement or to execute and perform in a timely and cooperative manner any directions of the BoardNon-Disclosure Agreement; (ii) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Company; (vi) failure or refusal to comply with reasonable and lawful Company policies and procedures; or (vii) Executive’s failure and/or inability to comply with or meet the requirements of any performance improvement plan reasonably provided to Executive by the Chief Executive Officer and/or the Board; provided, however, that prior to termination for cause arising under clause (i), Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any notice of termination provided by Company to Executive under this Section 6.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure cure, if curable, the same if such default is a failure material breach by Executive to perform any of his material obligations under this Agreement or the Non-Disclosure Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled to receive only the Base Salary and any unearned Incentive Compensation (as defined in Section 4.1 above) then in effectSalary, prorated to the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 1 contract

Samples: Executive Employment Agreement (Iovance Biotherapeutics, Inc.)

Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, “Cause” shall mean (i) a failure by Executive to perform any of his material obligations under this Agreement or to execute and perform in a timely and cooperative manner any directions of the Board; (ii) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Company; provided, however, that prior to termination for cause arising under clause (i), Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any notice of termination provided by Company to Executive under this Section 6.1 7.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure the same if such default is a failure by Executive to perform any of his material obligations under this Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.17.1, Executive shall be entitled to receive only the Base Salary and any unearned earned Incentive Compensation (as defined in Section 4.1 5.3 above) then in effect, prorated to the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 1 contract

Samples: Replacement Employment Agreement (Lion Biotechnologies, Inc.)

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Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, "Cause" shall mean (i) a failure material breach by Executive to perform any of his material obligations under this Agreement or to execute and perform in a timely and cooperative manner any directions of the BoardNon-Disclosure Agreement; (ii) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s 's theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s 's improper use or disclosure of the Company’s 's confidential or proprietary information; or (v) Executive’s 's conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s 's ability to perform his or her duties hereunder or which in the Board’s 's judgment may materially damage the business or reputation of the Company; provided, however, that prior to termination for cause arising under clause (i), Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any notice of termination provided by Company to Executive under this Section 6.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure cure, if curable, the same if such default is a failure material breach by Executive to perform any of his material obligations under this Agreement of the Non-Disclosure Agreement. In the event Executive’s 's employment is terminated in accordance with this subsection 6.1, Executive shall be entitled to receive only the Base Salary and any unearned earned Incentive Compensation (as defined in Section 4.1 4.3 above) then in effect, prorated to the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 1 contract

Samples: Executive Employment Agreement (Iovance Biotherapeutics, Inc.)

Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, “Cause” shall mean (i) a failure material breach by Executive to perform any of his material obligations under this Agreement or to execute and perform in a timely and cooperative manner any directions of the BoardNon-Disclosure Agreement; (ii) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Company; provided, however, that prior to termination for cause arising under clause (i), Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any notice of termination provided by Company to Executive under this Section 6.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure cure, if curable, the same if such default is a failure material breach by Executive to perform any of his material obligations under this Agreement of the Non-Disclosure Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled to receive only the Base Salary and any unearned Incentive Compensation (as defined in Section 4.1 above) then in effect, prorated to the date of terminationSalary. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 1 contract

Samples: Executive Employment Agreement (Lion Biotechnologies, Inc.)

Termination for Cause by the Company. The Company may terminate Executive’s employment immediately at any time and without notice for “Cause.” For purposes of this Agreement, “Cause” shall mean (i) a failure material breach by Executive to perform any of his material obligations under this Agreement or to execute and perform in a timely and cooperative manner any directions of the BoardNon-Disclosure Agreement; (ii) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonesty, or falsification of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Company; provided, however, that prior to termination for cause arising under clause (i), Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any notice of termination provided by Company to Executive under this Section 6.1 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure cure, if curable, the same if such default is a failure material breach by Executive to perform any of his material obligations under this Agreement of the Non-Disclosure Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled to receive only the Base Salary and any unearned earned Incentive Compensation (as defined in Section 4.1 4.3 above) then in effect, prorated to the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguished.

Appears in 1 contract

Samples: Executive Employment Agreement (Lion Biotechnologies, Inc.)

Termination for Cause by the Company. The Company may terminate the Executive’s employment immediately under this Agreement at any time for Cause (as defined below). Upon such termination, the Company shall have no further obligation to the Executive hereunder except for the payment of (i) the portion of the Base Salary for periods prior to the effective date of termination accrued but unpaid (if any), and without notice (ii) all unreimbursed expenses (if any), subject to Section 2(d). For the avoidance of doubt, the Executive shall have no right to receive any amounts under the Company’s severance policy upon his termination for Cause.” . For purposes of this Agreement, "Cause" shall mean be defined as (i1) a gross negligence in the performance of the material responsibilities of the Executive’s office or position; (2) gross misconduct in the performance of the material responsibilities of the Executive’s office or position, including, without limitation, malfeasance relating to the Company and/or vendor and customer accounts and insubordination; (3) material failure or refusal by the Executive to perform any his core job duties, as such may be reasonably assigned to him from time to time, other than by reason of his death or disability, or other acts or omissions constituting material obligations under this Agreement neglect or to execute and perform in a timely and cooperative manner any directions dereliction of his such duties; (4) the conviction of the Board; Executive by a court of competent jurisdiction (iiand after all appeal procedures have been exhausted or have expired) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonestyof, or falsification the entry of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any a plea of guilty or nolo contenderecontendere by the Executive to a charge of, the commission of a crime that constitutes a felony under federal or state law or the equivalent under foreign law; (5) the Executive's embezzlement or intentional misappropriation of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation property of the Company; provided(6) the Executive having divulged, howeverfurnished or made accessible to anyone other than the Company, its directors, officers, employees, auditors and legal advisors, otherwise than in the ordinary course of business, any Confidential Information (as hereinafter defined); (7) fraud, dishonesty or other acts or omissions by the Executive that prior constitute a willful breach of his fiduciary duty to termination for cause arising the Company; or (8) the happening of any other event which, under clause (i)the provisions of applicable law, disqualifies the Executive from acting in any or all capacities in which he is then acting. The Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any be given notice of the termination provided by Company to Executive of his employment for Cause under this Section 6.1 shall identify 3(a). If the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure the same if such default is a failure by Executive to perform any of his material obligations under this Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled terminated pursuant to receive only clause (1), (2) or (3) of this Section 3(a), the Base Salary and any unearned Incentive Compensation (Executive shall be given a reasonable period of time, not to exceed 30 days, to correct the underlying act or omission. In all other cases, termination shall be effective as defined in Section 4.1 above) then in effect, prorated to of the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguishednotice is given.

Appears in 1 contract

Samples: Employment Agreement (Phillips Van Heusen Corp /De/)

Termination for Cause by the Company. The Company may terminate the Executive’s 's employment immediately under this Agreement at any time for Cause (as defined below). Upon such termination, the Company shall have no further obligation to the Executive hereunder except for the payment of (i) the portion of the Base Salary for periods prior to the effective date of termination accrued but unpaid (if any), and without notice (ii) all unreimbursed expenses, subject to Section 2(d). For the avoidance of doubt, the Executive shall have no right to receive any amounts under the Company's severance policy upon his termination for Cause.” . For purposes of this Agreement, "Cause" shall mean be defined as (i1) a gross negligence in the performance of the material responsibilities of the Executive's office or position; (2) gross misconduct in the performance of the material responsibilities of the Executive's office or position, including, without limitation, malfeasance relating to the Company and/or vendor and customer accounts and insubordination; (3) material failure or refusal by the Executive to perform any his core job duties, as such may be reasonably assigned to him from time to time, other than by reason of his death or disability or other acts or omissions constituting material obligations under this Agreement neglect or to execute and perform in a timely and cooperative manner any directions dereliction of his such duties; (4) the conviction of the Board; Executive by a court of competent jurisdiction (iiand after all appeal procedures have been exhausted or have expired) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of 180 days; (iii) Executive’s theft, dishonestyof, or falsification the entry of any Company documents or records; (iv) Executive’s improper use or disclosure of the Company’s confidential or proprietary information; or (v) Executive’s conviction (including any a plea of guilty or nolo contenderecontendere by the Executive to a charge of, the commission of a crime that constitutes a felony under federal or state law or the equivalent under foreign law; (5) the Executive's embezzlement or intentional misappropriation of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation property of the Company; provided(6) the Executive having divulged, howeverfurnished or made accessible to anyone other than the Company, its directors, officers, employees, auditors and legal advisors, otherwise than in the ordinary course of business, any Confidential Information (as hereinafter defined); (7) fraud, dishonesty or other acts or omissions by the Executive that prior constitute a willful breach of his fiduciary duty to termination for cause arising the Company; or (8) the happening of any other event which, under clause (i)the provisions of applicable law, disqualifies the Executive from acting in any or all capacities in which he is then acting. The Executive shall have a period of ten days after written notice from the Company to cure the event or grounds constituting such cause. Any be given notice of the termination provided by Company to Executive of his employment for Cause under this Section 6.1 shall identify 3(a). If the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure the same if such default is a failure by Executive to perform any of his material obligations under this Agreement. In the event Executive’s employment is terminated in accordance with this subsection 6.1, Executive shall be entitled terminated pursuant to receive only clause (1), (2) or (3) of this Section 3(a), the Base Salary and any unearned Incentive Compensation (Executive shall be given a reasonable period of time, not to exceed 30 days, to correct the underlying act or omission. In all other cases, termination shall be effective as defined in Section 4.1 above) then in effect, prorated to of the date of termination. All other obligations of the Company to Executive pursuant to this Agreement will be automatically terminated and completely extinguishednotice is given.

Appears in 1 contract

Samples: Employment Agreement (Phillips Van Heusen Corp /De/)

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