Common use of Event of Termination Clause in Contracts

Event of Termination. Upon the occurrence of an Event of Termination (as hereinafter defined) during the period of Executive's employment under this Agreement, the provisions of this paragraph A shall apply. As used in this Agreement, an "Event of Termination" shall mean the termination by USA of Executive's employment hereunder for any reason other than because of retirement. A termination for "cause" shall include termination because of the Executive's personal dishonesty, misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. In the event of termination for cause the Executive shall have no right to receive further compensation, Salary, or Bonus of any kind, or other benefits for any period after such termination.

Appears in 2 contracts

Samples: Employment Agreement (Usabancshares Com Inc), Employment Agreement (Usabancshares Com Inc)

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Event of Termination. Upon the occurrence of an Event of Termination (as hereinafter defined) during the period of Executive's employment under this Agreement, the provisions of this paragraph A shall apply. As used in this Agreement, an "Event of Termination" shall mean the termination by USA Bank of Executive's employment hereunder for any reason other than because of retirement. A termination for "cause" shall include termination because of the Executive's personal dishonesty, misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. In the event of termination for cause the Executive shall have no right to receive further compensation, Salary, or Bonus of any kind, or other benefits for any period after such termination.

Appears in 2 contracts

Samples: Employment Agreement (Usabanc Com Inc), Employment Agreement (Usabancshares Inc)

Event of Termination. Upon the occurrence of an Event of Termination (as hereinafter defined) during the period of Executive's employment under this Agreement, the provisions of this paragraph A shall apply. As used in this Agreement, an "Event of Termination" shall mean the termination by USA VBANK of Executive's employment hereunder for any reason other than because of retirement. A termination for "cause" shall include termination because of the Executive's personal dishonesty, misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. In the event of termination for cause the Executive shall have no right to receive further compensation, Salary, or Bonus of any kind, or other benefits for any period after such termination.

Appears in 1 contract

Samples: Employment Agreement (Usabancshares Com Inc)

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Event of Termination. Upon the occurrence of an Event of Termination (as hereinafter defined) during the period of Executive's employment under this Agreement, the provisions of this paragraph A (a) shall apply. As used in this Agreement, an "Event of Termination" shall mean the termination by USA the Company of Executive's employment hereunder for any reason other than because of retirement. A termination for "cause" shall include termination because of the Executive's personal dishonesty, misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. In the event of termination for cause the Executive shall have no right to receive further compensation, Salary, or Bonus of any kind, or other benefits for any period after such termination.

Appears in 1 contract

Samples: Employment Agreement (Usabancshares Com Inc)

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