Common use of For Due Cause Clause in Contracts

For Due Cause. The Company may terminate the Executive's employment for "Due Cause" (as hereinafter defined) at any time and without prior notice, in which event this Agreement shall terminate and the Executive shall be entitled to receive (i) his Base Salary on a pro rata basis to the date of termination, and (ii) a cash payment equal to the amount of any earned but unpaid Quarterly Bonus in respect of the quarterly period ended prior to the quarter in which such termination occurs. In the event of such termination for Due Cause, all other rights and benefits the Executive may have under the employee and/or group or executive benefit plans and programs of the Company, generally, shall be determined in accordance with the terms and conditions of such plans and programs. The term "Due Cause" shall mean (i) neglect of the Executive's duties or failure by the Executive to perform or observe any obligation of employment that is not remedied within 30 days after written notice thereof from the Board or the President of the Company, (ii) any material breach of this Agreement, or (iii) the conviction of or a plea of guilty or nolo contendere by the Executive to a felony or misdemeanor involving fraud, embezzlement, theft or dishonesty or other criminal conduct.

For Due Cause. The Company may terminate the Executive's employment for "Due Cause" (as hereinafter defined) at any time and without prior notice, in which event this Agreement shall terminate and the Executive shall be entitled to receive (i) his Base Salary on a pro rata basis to the date of termination, and (ii) a cash payment equal to the amount of any earned but unpaid Quarterly Bonus in respect of the any quarterly period ended prior to the quarter in which such termination occurs. In the event of such termination for Due Cause, all other rights and benefits the Executive may have under the employee and/or group or executive benefit plans and programs of the Company, generally, shall be determined in accordance with the terms and conditions of such plans and programs. The term "Due Cause" shall mean (i) habitual neglect of the Executive's duties or failure by the Executive to perform or observe any obligation of employment that is not remedied within 30 days after written notice thereof from the Board or the President of the CompanyBoard, (ii) any material breach of this Agreement, or (iii) the conviction of or a plea of guilty or nolo contendere by the Executive to a felony or misdemeanor involving fraud, embezzlement, theft or dishonesty or other criminal conduct.