Termination by the Company Clause Example from Business Contracts
This example Termination by the Company clause appears in
4 contracts
from
1 company
Termination by the Company. (a) Without Cause. The Company may terminate Executive's employment at any time without Cause (as such term is defined in subsection (b) below) effective immediately upon delivery of written notice to Executive, which notice shall set forth the effective date of such termination. (b) With Cause. The Company may terminate Executive's employment at any time for Cause effective immediately upon delivery of written notice to Executive. As used herein, the term "Cause" shall mean: (i) Executive shall
... have been convicted of, or pled guilty or nolo contendere to, a felony or any misdemeanor involving allegations of fraud, theft, perjury or conspiracy during the term of this Agreement; (ii) Executive is found disqualified or not suitable to hold a casino or other gaming license by a governmental gaming authority in any jurisdiction where Executive is required to be found qualified, suitable or licensed; (iii) Executive breaches any material Company policy or any material term of this Agreement, including, without limitation, Sections 5 through 7 of this Agreement and, in each case, fails to cure such breach within 15 days after receipt of written notice thereof (to the extent curable); (iv) Executive misappropriates corporate funds as determined in good faith by the Audit Committee of the Board; (v) the Company's reasonable determination of Executive's willful and continued failure to perform Executive's duties with the Company (other than any such failure resulting from incapacity due to physical disability or mental illness); or 1 (vi) the Company's reasonable determination of Executive's willful engagement in illegal conduct or gross misconduct which is or is reasonably expected to be materially injurious to the Company or one of its affiliates.
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