Board Termination Procedure. In each case, in determining Cause the alleged acts or omissions of the Executive shall be measured against standards prevailing in the banking industry generally and the ultimate existence of Cause must be confirmed by not less than two-thirds of the Board at a meeting prior to any termination therefor.
Appears in 6 contracts
Sources: Employment Agreement (First Essex Bancorp Inc), Employment Agreement (First Essex Bancorp Inc), Employment Agreement (First Essex Bancorp Inc)