Common use of Termination by Corporation for Cause Clause in Contracts

Termination by Corporation for Cause. The Corporation may terminate the Employment for "Cause", defined as removal by order of a regulatory agency having jurisdiction over the Corporation or the Bank, or the Executive's willful and repeated failure to perform his duties under this Employment Agreement, which failure has not been cured within thirty (30) days after the Corporation gives Notice thereof to the Executive; it being expressly understood that negligence or bad judgment shall not constitute "Cause" so long as such act or omission shall be without intent of personal profit and is reasonably believed by the Executive to be in or not adverse to the best interests of the Corporation.

Termination by Corporation for Cause. The Corporation may terminate the Employment for "Cause", defined as removal by order of a regulatory agency having jurisdiction over the Corporation or the BankBanks, or the Executive's willful and repeated failure to perform his duties under this Employment Agreement, which failure has not been cured within thirty (30) days after the Corporation gives Notice thereof to the Executive; it being expressly understood that negligence or bad judgment shall not constitute "Cause" so long as such act or omission shall be without intent of personal profit and is reasonably believed by the Executive to be in or not adverse to the best interests of the Corporation.

Termination by Corporation for Cause. The Corporation may terminate the Employment without Severance Pay for "Cause", ," defined as removal by order of a regulatory agency having jurisdiction over the Corporation or the Bank, or the Executive's willful and repeated failure to perform his her duties under this Employment Agreement, which failure has not been cured within thirty (30) days after the Corporation gives Notice thereof to the Executive; it being expressly understood agreed that negligence or bad judgment shall not constitute "Cause" Cause so long as such act or omission shall be is without intent of personal profit and is reasonably believed by the Executive to be in or not adverse to the best interests of the Corporation.