Common use of For Cause Outside of the Change of Control Protection Period Clause in Contracts

For Cause Outside of the Change of Control Protection Period. This Section 2.03(a) shall apply at all times other than during the Change of Control Protection Period. In the event that, in the reasonable judgment of the Board of Directors of the Company, Executive shall have (a) been guilty of any act of dishonesty material with respect to the Company, (b) been indicted or convicted of, or entered a plea of nolo contendere to, a crime involving moral turpitude, whether or not in connection with the performance by Executive of his duties or obligations to the Company, (c) intentionally disregarded the provisions of this Agreement or (d) intentionally disregarded express instructions of the Board of Directors or President of the Company with respect to matters of policy continuing (in the case of clause (d)) for a period of not less than thirty (30) days after notice of such disregard, the Company may terminate this Agreement effective at such date as it shall specify in a written notice to Executive. Any such termination by the Company shall be deemed to be termination “for cause”. Upon delivery to Executive of such notice of termination, together with payment of any salary accrued and unpaid under Section 1.03 hereof, Executive’s employment and all obligations of the Company under Articles I and II hereof shall forthwith terminate. The obligations of Executive under Article IV hereof shall continue notwithstanding termination of Executive’s employment pursuant to this Section 2.03(a).

For Cause Outside of the Change of Control Protection Period. This Section 2.03(a) shall apply at all times other than during the Change of Control Protection Period. In the event that, in the reasonable judgment of the Board of Directors of the Company, Executive shall have (a) been guilty of any act of dishonesty material with respect to the Company, (b) been indicted or convicted of, or entered a plea of nolo contendere to, a crime involving moral turpitude, whether or not in connection with the performance by Executive of his duties or obligations to the Company, (c) intentionally disregarded the provisions of this Agreement or (d) intentionally disregarded express instructions of the Board of Directors or President of the Company with respect to matters of policy continuing (in the case of clause (d)) for a period of not less than thirty (30) days after notice of such disregard, the Company may terminate this Agreement effective at such date as it shall specify in a written notice to Executive. Any such termination by the Company shall be deemed to be termination “for cause”. Upon delivery to Executive of such notice of termination, together with payment of any salary accrued and unpaid under Section 1.03 hereof, Executive’s employment and all obligations of the Company under Articles I and II hereof shall forthwith terminate. The obligations of Executive under Article IV hereof shall continue notwithstanding termination of Executive’s employment pursuant to this Section 2.03(a).