Common use of Event of Termination for Cause Clause in Contracts

Event of Termination for Cause. An "Event of Termination for Cause" shall have occurred if, after the Effective Date, the Board of Directors of the Company in its good faith opinion concludes that any of the following events has occurred: (i) Employee has been convicted of a crime involving moral turpitude, including but not limited to fraud, theft, embezzlement or any crime that results in or is intended to result in personal enrichment at the expense of the Company, (ii) there has been a material breach by Employee of this Agreement or of that certain Confidentiality, Inventions and Discoveries and Non-Competition Agreement dated as of January 1992, between Employee and the Company that substantially impairs the Company's interest herein or therein, (iii) Employee has committed acts amounting to gross negligence or willful misconduct to the material detriment of the Company or (iv) Employee willfully or persistently fails to attend to the duties attendant to his employment by the Company.