Common use of Termination by Holding Company Clause in Contracts

Termination by Holding Company. The Executive's employment hereunder may be terminated by the Holding Company, without further liability on the part of the Holding Company, effective immediately, by a two-thirds vote of all of the members of the Board of Directors of the Holding Company for Cause (as such term is defined in Section 6.2) by written notice to the Executive setting forth in reasonable detail the nature of such Cause, provided that the Board has complied with the provisions of Section 6.3.

Termination by Holding Company. The Executive's employment hereunder may be terminated by the Holding Company, Company without further liability on the part of the Holding Company, effective immediately, by a two-thirds vote of all of the members of the Board of Directors of the Holding Company for Cause (as such term is defined in Section 6.2) by written notice to the Executive setting forth in reasonable detail the nature of such Cause, provided that the Board has complied with the provisions of Section 6.3.

Termination by Holding Company. The Executive's employment hereunder may be terminated by the Holding Company, without further liability on the part of the Holding Company, effective immediately, by a two-thirds vote of all of the members of the Board of Directors of the Holding Company for Cause (as such term is defined in Section 6.2) by written notice to the Executive setting forth in reasonable detail the nature of such Cause, provided PROVIDED that the Board has complied with the provisions of Section 6.3.