Termination by Bank for Cause Sample Clauses

Termination by Bank for Cause. The Bank may terminate the Executive’s employment hereunder for Cause. For purposes of this Agreement, “Cause” shall mean: (i) fraud, embezzlement or other misappropriation by the Executive of funds, property or rights of the Bank; (ii) conviction of the Executive, by plea or otherwise, of any felony, or of any misdemeanor, if such misdemeanor involves a crime of theft, trust or dishonesty; (iii) any gross misconduct by the Executive that is injurious in any material respect to the Bank; (iv) continued non-performance by the Executive of his or her duties to the Bank or the Executive’s failure to perform in any material respect any of his/her material obligations under this Agreement (other than by reason of the Executive’s physical or mental illness, incapacity or disability); or (v) a breach of the Executive’s fiduciary duties as an employee of the Bank, including a breach of any of the provisions contained in Section 7 of this Agreement; provided, however, that “Cause” shall not be deemed to exist under clause (iv) unless the Bank shall have given written notice to the Executive specifying in reasonable detail the Executive’s acts or omissions that the Bank alleges would constitute Cause and the Executive fails to rescind any such act or cure any such omission within 30 days after delivery of the notice.

Termination by Bank for Cause. The Bank may terminate the Executive's employment under this Agreement for cause pursuant to notice in writing to Executive, specifying such cause with reasonable particularity. Executive shall have ten (10) days from receipt thereof in which to cure the act or omission complained of, unless the act or omission of its very nature cannot be cured within such period, in which event if the Executive shall have begun diligently working to cure such act or omission during such period, then the Executive shall have a reasonable period of time to effect such cure so long as the Executive continues to work diligently and in good faith to accomplish such cure. If no cure has been or can be effected within the time allowed, the Executive's rights, and the Bank's obligations, under this Agreement shall thereupon terminate. For purposes hereof, "cause" shall be limited to: (i) Deliberate falsification by Executive of any records or reports, or any material act of self-dealing between Bank and Executive which is not disclosed in full to, and approved by, the Bank; (ii) Fraud on the part of Executive against the Bank or any subsidiary or affiliate; and/or theft, embezzlement or misappropriation by Executive of any funds of Bank, or conviction of any felony; (iii) Deliberate breach of a Bank policy the result of which is to materially damage or threaten the Bank and/or the Board, including the execution of any document transferring, or creating any material liens or encumbrance on, any material property of the Bank, not in the ordinary course of business, without authorization of the Bank's Executive Committee or the Board of Directors of the Bank; and/or (iv) Disability (as herein defined). No breach of policy shall alone be the grounds for termination so long as it does not, alone, constitute "cause" other than as a breach of policy or does not subject either the Bank (or its Parent Company, if any) or the Board of Directors (or one or more members thereof) to unreasonable risk or damage.

Termination by Bank for Cause. Nothing in this Agreement shall be construed to prevent its termination by the Bank at any time for "cause" without prior notice. For purposes of this Agreement, "cause" shall mean the failure of Employee to perform or observe any of the terms or provisions of this Agreement or to comply fully with the lawful directives of the Directors of the Bank, dishonesty, misconduct, conviction of a crime or otherwise causing embarrassment to the Bank and its public reputation, substance abuse, misappropriation of funds, disparagement of the Bank or failure to comply with Bank policy.

Termination by Bank for Cause. The Bank may terminate this ----------------------------- Agreement for cause on the following terms and conditions: (i) The Bank shall be deemed to have cause to terminate Executive's employment only in one of the following events: (A) The Executive shall willfully fail to substantially perform his obligations under this Agreement (it being understood that any such failure resulting from Executive's incapacity due to physical or mental illness shall not be deemed willful); (B) Any intentional act which is intended by Executive to materially injure the Bank; (C) Any criminal act involving moral turpitude; (D) Any dishonest or fraudulent act; or, (E) Any refusal to obey written orders or instructions of the Board of Directors of the Bank unless such instructions would require Executive to commit an illegal act, could subject Executive to personal liability, would require Executive to violate the terms of this Agreement, or would otherwise be inconsistent with the duties of an officer of a national banking association. (ii) The Bank shall be deemed to have cause to terminate Executive's employment only when a majority of the members of the Board of Directors of the Bank finds that, in the good faith opinion of such majority, the Executive committed any of the acts set forth in clauses (A) through (E) of the preceding subparagraph, such finding to have been made after at least five (5) business days' notice to the Executive and an opportunity for the Executive, together with his counsel, to be heard before such majority. The determination of such majority, made as set forth above, shall be binding upon the Bank and the Executive, absent bad faith or willful misconduct. (iii) The effective date of a termination for cause shall be the date of the action of such majority finding the termination was with cause. In the event the Bank terminates this Agreement for cause, (A) the Bank shall pay Executive the Executive's then Annual Salary through, but not beyond, the effective date of the termination and (B) the Executive shall receive those Benefits accrued through but not beyond the effective date of such termination which are thereafter payable under the terms and provisions of benefit plans then in effect in accordance with paragraph 3(b) above.

Termination by Bank for Cause. The Board may, by written notice to the Employee, immediately terminate the Employee’s employment under this Agreement at any time for Cause, in which case the Employee shall be entitled to receive only the unpaid base salary, bonus amounts, and benefits that have accrued through the date of termination. The Bank shall deliver to the Employee a copy of the resolution duly adopted by the Board (after reasonable notice to the Employee and an opportunity for the Employee, together with the Employee’s counsel, to be heard before the Board, such meeting and the opportunity to be heard to be held prior to, or as soon as reasonably practicable following, termination, but in no event later than 60 days following such termination), finding that the Employee was guilty of conduct constituting Cause. The notice provided to Employee pursuant hereto shall specify in detail the particulars of the conduct constituting Cause. If the Board thereafter determines that such conduct did not constitute Cause and the Employee’s employment hereunder is reinstated, then the Employee shall be entitled to receive back pay for the period following termination and continuing through reinstatement. If the Employee’s employment is not reinstated as contemplated by the preceding sentence, then the termination of employment shall be deemed to have occurred pursuant to Section 9(d) hereof and the Employee shall be entitled to the compensation and benefits provided therein.

Termination by Bank for Cause. Executive's employment pursuant to this Employment Agreement can be terminated at any time by the Bank (i) if after written notice to Executive of a material breach of the provisions of this Agreement specifying the nature of such breach, Executive fails to cure the breach within fifteen (15) days of such notice; or (ii) if Executive commits a felony or any material act of fraud, dishonesty, gross negligence or any material act that is detrimental or harmful to the reputation, character or standing of the Bank, or any material act or omission which constitutes willful misfeasance or malfeasance by Executive in connection with the performance of his employment duties. Termination of Executive's employment under the provisions of Paragraph 5(a) shall be deemed a termination for "Cause".

Termination by Bank for Cause. If, before the end of the Term or any Extended Term, the Bank terminates Executive's employment for Cause or Executive terminates his employment without Good Reason, the Bank will pay Executive the salary earned and expenses reimbursable under this Agreement incurred through the date of Executive's termination. Executive will have no right to receive compensation or other benefits for any period after termination under this section 8(a), and Executive will be subject to the noncompetition and nonsolicitation requirements of Section 12 through the remainder of the Term or Extended Term in which termination occurs and for the three-year period following such Term or Extended Term in which termination occurs.

Termination by Bank for Cause. The Employee's employment under this ----------------------------- Agreement may be terminated at any time by the Board, or its authorized representative, for "cause," which shall include, but not be limited to, the items specified in 12 C.F.R. (S) 563.39 and the following: (a) The commission by the Employee of an act of misconduct (including, but not limited to, the violation of any law, rule, regulation or cease and desist order applicable to the Employee or the Bank), or an act which constitutes a conflict of interest with the Bank or its stockholders, or a breach of a fiduciary duty owed by the Employee; (b) The Employee's breach of this Agreement, dishonesty, incompetence, willful misconduct, habitual absence from work, failure to perform duties, or negligence or incompetence in the performance of stated duties; (c) The Employee's becoming physically or mentally incapable of performing the essential functions of his employment position; or (d) Any criminal conviction of the Employee (other than for a minor traffic violation or similar offense), whether or not in the line of duty. In the event of termination for cause under this Section 7a(1), the Employee shall have no right to receive compensation or other benefits under this Agreement for any period after such termination.

Termination by Bank for Cause. The Bank may terminate Officer’s employment for Cause by giving written notice to Officer designating an immediate or future Termination Date. In the event of a termination for Cause, Officer shall not be entitled to any payments or benefits following the Termination Date other than the Accrued Amounts (as defined in Section 4(f) below). For the avoidance of doubt, in the event of a termination for Cause, Officer will immediately forfeit any unvested AIP bonus, LTIP awards, equity or unvested equity-like interest that Officer then holds in the Bank (whether held directly or indirectly), regardless of whether such forfeiture is required by the provisions of the agreements and other documents governing any such equity or equity-like interest.