By the Bank. (a) For Cause, following approval of such action by at least seventy-five (75%) of the membership of the Board of Directors of the Bank and only after providing Employee with at least thirty (30) days’ written notice, in which event the Bank shall have no further obligation to the Employee except for the payment of any amounts earned and unpaid as of the effective date of termination; or (b) Without Cause at any time, following approval of such action by at least two-thirds (2/3) of the disinterested directors of the Bank, provided that the Bank shall give the Employee sixty (60) days’ prior written notice of its intent to terminate, in which event the Bank shall be required to meet its obligations to the Employee under Section 3.3.1 below.
Appears in 6 contracts
Samples: Employment Agreement (State Bank Financial Corp), Employment Agreement (State Bank Financial Corp), Employment Agreement (STATE BANK FINANCIAL Corp)
