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

Termination of Employment by the Company for Cause. The Company may terminate the employment of the Executive immediately for Cause (as hereinafter defined). The term “Cause,” as used herein, shall mean (1) the Executive’s willful misconduct, gross negligence, dishonesty or fraud in the performance of his duties hereunder, (2) the material breach of this Agreement by the Executive after notice of such breach and a reasonable opportunity to cure, (3) the Executive’s willful refusal or failure to perform his duties hereunder or under any lawful directive of the Board or his superior officer, as the case may be, which is consistent with his title and position after notice of such failure and a reasonable opportunity to cure, or (4) the conviction, plea of guilty or nolo contendere of the Executive in respect of any felony or other crime involving moral turpitude, dishonesty, theft or unethical business conduct.

Termination of Employment by the Company for Cause. The Company may terminate the employment of the Executive immediately for Cause (as hereinafter defined). The term “"Cause,” " as used herein, shall mean (1) the Executive’s 's willful misconduct, gross negligence, dishonesty or fraud in the performance of his duties hereunder, (2) the material breach of this Agreement by the Executive after notice of such breach and a reasonable opportunity to cure, (3) the Executive’s 's willful refusal or failure to perform his duties hereunder or under any lawful directive of the Board or his superior officer, as the case may be, which is consistent with his title and position after notice of such failure and a reasonable opportunity to cure, or (4) the conviction, plea of guilty or nolo contendere of the Executive in respect of any felony or other crime involving moral turpitude, dishonesty, theft or unethical business conduct.