Common use of Revocation for Misconduct Clause in Contracts

Revocation for Misconduct. Notwithstanding anything hereinafter to the contrary, the Board may by resolution immediately revoke, rescind and terminate any Plan Share Award, or portion thereof, previously awarded under this Plan, to the extent Plan Shares have not been distributed hereunder to the Recipient, whether or not yet earned, in the case of a Recipient who is discharged from the employ or service of the Corporation or any Subsidiary for cause (as hereinafter defined). Termination for cause shall mean termination because of 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.

Revocation for Misconduct. Notwithstanding anything hereinafter to the contrary, the Board may by resolution immediately revoke, rescind and terminate any Plan Share Award, or portion thereof, previously awarded under this Plan, to the extent Plan Shares have not been distributed hereunder to the Recipient, Recipient whether or not yet earned, in the case of a Recipient an Employee who is discharged from the employ or service of the Corporation Savings Bank or any Subsidiary for cause (as hereinafter defined). Termination for cause shall mean termination because of the Employee'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.

Revocation for Misconduct. Notwithstanding anything hereinafter herein to ------------------------- the contrary, the Board may by resolution immediately revoke, rescind and terminate any previously awarded Plan Share Award, Award (or portion thereof) shall be immediately revoked, previously awarded under this Planrescinded and terminated, to the extent Plan Shares have not been distributed hereunder to earned by the Recipient, whether or not yet earned, in the case of a Recipient Director who is discharged from the employ or service of the Corporation Company or any Subsidiary an Affiliate for cause (as hereinafter defined), or who is discovered after termination of service to have engaged in conduct that would have justified termination for cause. Termination for cause shall mean termination because of "Cause" is defined as personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, or the willful violation of any law, rule, rule or regulation (other than traffic violations or similar offenses) which results in a material loss to the Company or final cease-and-cease and desist order.

Revocation for Misconduct. Notwithstanding anything hereinafter to the contrary, the Board may by resolution immediately revoke, rescind and terminate any Plan Share Award, or portion thereof, previously awarded under this Plan, to the extent Plan Shares have not been distributed hereunder delivered thereunder to the Recipient, whether or not yet earned, in the case of a Recipient an Employee who is discharged from the employ Bank or service of the Corporation or any Subsidiary an Affiliate for cause (as hereinafter herein defined), or who is discovered after termination of employment to have engaged in conduct that would have justified termination for cause. Termination for cause "Cause" shall mean the termination because of personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, or the willful violation of any law, rule, rule or regulation (other than traffic violations or similar offenses) which result in a material loss to the Bank or final cease-and-cease and desist order.