Common use of Resignation; Termination for Cause Clause in Contracts

Resignation; Termination for Cause. (a) The Corporation's Board of Directors may terminate the Executive's employment for cause at any time. Cause shall be defined as 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 that have no material detrimental effect on the Corporation) or final cease-and-desist order, or a material breach of any provision of this Employment Agreement. Notwithstanding the foregoing, the Corporation shall notify and counsel the Executive as to the nature of any instance of "cause" described above within 30 days of the Corporation's discovery of such neglect or misconduct and shall provide a reasonable probationary and cure period from the date of such notice and counseling, but this provision shall only apply to the first occurrence of any such circumstances and the Corporation in good faith may immediately terminate the Executive for such continued or additional instance of "cause" following the initial notice and counseling.

Resignation; Termination for Cause. (a) The Corporation's Board of Directors may terminate the Executive's employment for cause at any time. Cause shall be defined as 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 that have no material detrimental effect on the Corporation) or final cease-and-desist order, or a material breach of any provision of this Employment Agreement. Notwithstanding the foregoing, the Corporation shall notify and counsel the Executive as to the nature of any instance of "cause" cause described above within 30 days of the Corporation's discovery of such neglect or misconduct and shall provide a reasonable probationary and cure period from the date of such notice and counseling, but this provision shall only apply to the first occurrence of any such circumstances and the Corporation in good faith may immediately terminate the Executive for such continued or additional instance of "cause" cause following the initial notice and counseling.

Resignation; Termination for Cause. (a) The Corporation's Board of Directors may terminate the Executive's employment for cause at any time. Cause "Cause" shall be defined as 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 that have no material detrimental effect on the Corporation) or final cease-and-desist order, or a material breach of any provision of this Employment Agreement. Notwithstanding the foregoing, the Corporation shall notify and counsel the Executive as to the nature of any instance of "cause" described above within 30 days of the Corporation's discovery of such neglect or misconduct and shall provide a reasonable probationary and cure period from the date of such notice and counseling, but this provision shall only apply to the first occurrence of any such circumstances and the Corporation in good faith may immediately terminate the Executive for such continued or additional instance of "cause" following the initial notice and counseling.