Cause and Without Cause

Cause and Without Cause. For all purposes of this Agreement, a termination for Cause shall mean a termination by the Company of Executive's employment for any of the following reasons: (1) gross negligence or willful misconduct in the performance by Executive of his duties hereunder; (2) any act of personal dishonesty by Executive in connection with his duties hereunder that has the effect, or could have the effect, of producing substantial personal enrichment of Executive; (3) conviction of Executive of, or a plea of... "guilty" or "no contest" by Executive to, a felony under the laws of the United States or any state or political subdivision thereof; (4) Executive's commission of an act of fraud against, or of an act of misappropriation of property belonging to, the Company; or (5) Executive's material breach of any confidentiality and inventions agreement between Executive and the Company. A termination by the Company of Executive's employment other than for Cause or upon Disability will be a termination "Without Cause." View More