Common use of Involuntary Termination for Cause Clause in Contracts

Involuntary Termination for Cause. The Company reserves the right to terminate the Executive's Employment for Cause. In the event that the Company determines that Cause exists under Section 10(f)(i) for the termination of the Executive's Employment, the Company shall provide in writing (the "Notice of Cause") the basis for that determination and the manner, if any, in which the breach or neglect can be cured. If either the Company has determined that the breach or neglect cannot be cured, as set forth in the Notice of Cause, or has advised the Executive in the Notice of Cause of the manner in which the breach or neglect can be cured, but the Executive fails to effect that cure within 30 days after his receipt of the Notice of Cause, the Company shall be entitled to give the Executive written notice of his termination for Cause. In the event that the Company determines that Cause exists under Section 10(f)(ii) for the termination of the Executive's Employment, it shall be entitled to terminate the Executive's Employment without providing a Notice of Cause or any opportunity prior to that termination to contest that determination. Any termination of the Executive's Employment for Cause pursuant to this Section 8(f) shall be effective immediately upon the Executive's receipt of the Company's written notice of that termination and the Cause therefor.