Termination With Cause

Termination With Cause. Shall mean termination by the Employer, acting in good faith, by written notice to the Executive specifying the event relied upon for such termination, due to; (i) the Executive's indictment or conviction of a felony, (ii) the Executives' intentional perpetration of a fraud, theft, embezzlement or other acts of dishonesty, (iii) the Executive's intentional breach of a trust of fiduciary duty which materially affects the Employer or its shareholders.

Termination With Cause. The termination of the Executive's employment by act of the Company's Board of Directors on account of (i) the Executive's failure to perform a material duty or the Executive's material breach of an obligation set forth in this Agreement or a breach of a material and written Company policy other than by reason of mental or physical illness or injury, (ii) the Executive's breach of Executive's fiduciary duties to the Company, (iii) the Executive's conduct that is demonstrably and materially... injurious to the Company, monetarily or otherwise; provided that, in the cases of the foregoing clauses (i)-(iii), that following written notice from the Board describing any such event, such event is not cured, to the reasonable satisfaction of the Board, within thirty (30) days after such notice is received by the Executive, or (iv) the Executive's conviction of, or plea of guilty or nolo contendre to, a felony or crime involving moral turpitude or fraud or dishonesty involving assets of the Company or (v) the Material Weakness communicated to management and the Audit Committee of the Board by the Company's independent registered public accounting firm before the Effective Date is not cured, to the reasonable satisfaction of the Audit Committee prior to the filing of the Company's annual report on Form 10-K for the period ending December 31, 2014, (vi) the Company's independent registered public accounting firm shall have communicated, in writing, to management and the Audit Committee a Material Weakness in the Company's internal control over financial reporting for any reporting period ending after the Effective Date, or (vii) the Company is required to restate a previously filed financial statement for reasons other than a change in accounting policy or a change in accounting standards and which restatement reflects a material change from the previously filed financial statement View More