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 8 shall apply. As used in this Agreement, an "Event of Termination" shall mean that termination by the Bank of Executive's employment hereunder for any reason other than "cause" or retirement at or after the normal retirement age under a qualified pension plan maintained by the Bank or termination pursuant to Paragraph 7. A termination for "cause" shall include termination because of the Executive's personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful 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 compensation or other benefits for any period after such termination.

Appears in 3 contracts

Samples: Employment Agreement (Ameriana Bancorp), Employment Agreement (Ameriana Bancorp), Employment Agreement (Ameriana Bancorp)

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Event of Termination. Upon the occurrence of an Event of ---------------------- -------------------- Termination (as hereinafter defined) during the period of the Executive's employment under this Agreement, the provisions of this paragraph 8 9 shall apply. As used in this Agreement, an "Event of Termination" shall mean that the termination by of the Bank of Executive's employment hereunder for any reason other than "cause" or retirement at or after the normal retirement age under a any qualified pension plan retirement plan(s) maintained by the Bank Frontier or termination pursuant to Paragraph 7. A termination for "cause" shall include termination because of the Executive's personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of or any provision of this Agreement. In the event of termination for cause the Executive shall have no right to receive compensation or other benefits for any period after such termination; provided, however, that, the Executive shall be entitled to receive all vested benefits as of the date of such termination.

Appears in 2 contracts

Samples: Employment Agreement (Valley National Corp /Al/), Employment Agreement (Valley National Corp /Al/)

Event of Termination. The Bank’s board of directors may terminate Executive’s employment at any time, but any termination by the Bank’s board of directors other than termination for “cause,” shall not prejudice Executive’s right to compensation or other benefits under the Agreement. Upon the occurrence of an Event of ---------------------- Termination (as hereinafter defineddefined below) during the period of Executive's ’s employment under this Agreement, the provisions of this paragraph 8 shall apply. As used in this Agreement, an "Event of Termination" shall mean that termination by the Bank of Executive's ’s employment hereunder for any reason other than "cause" or ” (as defined below), retirement at or after the normal retirement age under a qualified pension plan maintained by the Bank 65, or termination pursuant to Paragraph 7. A termination for "cause" shall include termination because of the Executive's ’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful 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 cause, Executive shall have no right to receive compensation or other benefits for any period after such termination.

Appears in 1 contract

Samples: Employment Agreement (Ameriana Bancorp)

Event of Termination. Upon the occurrence of an Event of ---------------------- Termination (as hereinafter defined) during the period of Executive's ’s employment under this Agreement, the provisions of this paragraph 8 shall apply. As used in this Agreement, an "Event of Termination" shall mean that termination by the Bank of Executive's ’s employment hereunder for any reason other than "cause" or retirement at or after the normal retirement age under a qualified pension plan maintained by the Bank or termination pursuant to Paragraph 7. A termination for "cause" shall include termination because of the Executive's ’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful 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 cause, the Executive shall have no right to receive compensation or other benefits for any period after such termination.

Appears in 1 contract

Samples: Employment Agreement (Ameriana Bancorp)

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 8 shall apply. As used in this Agreement, an "Event of Termination" shall mean that termination by the Bank of Executive's employment hereunder for any reason other than "cause" or retirement at or after the normal retirement age under a qualified pension plan maintained by the Bank or termination pursuant to Paragraph 7. A termination for "cause" shall include termination because of the Executive's personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful 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 compensation or other benefits for any period after such termination.

Appears in 1 contract

Samples: Employment Agreement (Ameriana Bancorp)

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Event of Termination. Upon the occurrence of an Event of ---------------------- Termination (as hereinafter defined) during the period of the Executive's employment under this Agreement, the provisions of this paragraph 8 9 shall apply. As used in this Agreement, an "Event of Termination" shall mean that the termination by of the Bank of Executive's employment hereunder for any reason other than "cause" or retirement at or after the normal retirement age under a any qualified pension plan retirement plan(s) maintained by the Bank Frontier or termination pursuant to Paragraph 7. A termination for "cause" shall include termination because of the Executive's personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of or any provision of this Agreement. In the event of termination for cause the Executive shall have no right to receive compensation or other benefits for any period after such termination; provided, however, that, the Executive shall be entitled to receive all vested benefits as of the date of such termination.

Appears in 1 contract

Samples: Employment Agreement (Frontier National Corp)

Event of Termination. Upon the occurrence of an Event of ---------------------- Termination -------------------- (as hereinafter defined) during the period of the Executive's employment under this Agreement, the provisions of this paragraph 8 9 shall apply. As used in this Agreement, an "Event of Termination" shall mean that the termination by of the Bank of Executive's employment hereunder for any reason other than "cause" or retirement at or after the normal retirement age under a any qualified pension plan retirement plan(s) maintained by the Bank Frontier or termination pursuant to Paragraph 7. A termination for "cause" shall include termination because of the Executive's personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-cease- and-desist order, or material breach of or any provision of this Agreement. In the event of termination for cause the Executive shall have no right to receive compensation or other benefits for any period after such termination; provided, however, that, the Executive shall be entitled to receive all vested benefits as of the date of such termination.

Appears in 1 contract

Samples: Employment Agreement (Frontier National Corp)

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