Termination by the Bank for Cause. After the occurrence of any of the conditions specified in Section 7.1, the Bank shall have the right to terminate the Term for Cause on written notice to Executive, effective immediately.
Termination by the Bank for Cause. The Bank may terminate the employment of Executive hereunder for Cause (as defined in Section 8(a)) at any time. At the time Executive’s employment is terminated for Cause, the Term will terminate, all obligations of the Bank and Executive under Sections 1 through 5 of this Agreement will immediately cease except for obligations which expressly continue after termination of employment by the Bank for Cause, and the Bank will pay Executive at the time specified in Section 7(g), and Executive will be entitled to receive, the following:
(i) Executive’s Compensation Accrued at Termination (as defined in Section 8(c));
(ii) All stock options, restricted stock and deferred stock awards, including outstanding stock plan awards, and all other long-term incentive awards will be governed by the terms of the plans and programs under which the awards were granted; and
(iii) All deferral arrangements under Section 5(d) will be settled in accordance with the plans and programs governing the deferral, and all rights, if any, under the SERP and any other benefit plan shall be governed by such plans.
Termination by the Bank for Cause. If the Bank terminates Executive's employment for Cause (defined below) before this Agreement terminates, the Bank will pay Executive the salary earned and expenses reimbursable under this Agreement incurred through the date of his termination. Executive will have no right to receive compensation or other benefits for any period after termination under this Section 9(a).
Termination by the Bank for Cause. Notwithstanding paragraph 4(a), The Bank may immediately terminate this Agreement with no advance notice if termination is for cause. For purposes of this Agreement, "cause" means dishonesty; fraud; commission of a felony or of a crime involving moral turpitude; deliberate violation of statutes, regulations, or orders pertaining to financial institutions or reckless disregard of such statutes, regulations, or orders; destruction or theft of Bank property or assets of customers of The Bank; physical attack of a fellow employee or a customer; intoxication at work; use of narcotics or alcohol to an extent that materially impairs Executive's performance of his duties; willful malfeasance or gross negligence in the performance of Executive's duties; violation of law in the course of employment that has a material adverse impact on The Bank, its employees, or its customers; Executive's refusal to perform Executive's duties; Executive's refusal to follow reasonable instructions or directions; misconduct materially injurious to The Bank; significant neglect of duty; or any material breach of Executive's duties or obligations to The Bank that results in material harm to The Bank. If termination occurs under this paragraph, the Executive will be entitled to receive only the salary earned through the date this Agreement is terminated and shall not be entitled to any payment pursuant to paragraph 4(a), and except as otherwise provided by law, participation in benefit plans ceases upon termination of this Agreement.
Termination by the Bank for Cause. At any time during the Term, the Bank may terminate the Executive’s employment hereunder for Cause if at a meeting of the Board called and held for such purpose (after reasonable notice to the Executive and an opportunity for him, together with counsel, to be heard before the Board, which notice shall specify in reasonable detail the basis for a proposal to terminate the Executive’s employment for “Cause”) a majority of the Board determines in good faith that the Executive is guilty of conduct that constitutes “Cause” as defined herein. Only the following shall constitute “Cause” for such termination:
(i) Conviction of the Executive by a court of competent jurisdiction of, or entry of a plea of guilty or nolo contendere for, any criminal offense involving dishonesty or breach of trust or any felony or crime of moral turpitude;
(ii) Commission by the Executive of an act of fraud upon the Bank;
(iii) Willful refusal by the Executive to perform the duties reasonably assigned to him by the Board (which duties are consistent with the Executive’s status as the Executive Vice President and Chief Financial Officer of the Bank), which failure or breach continues for more than thirty (30) days after written notice given to the Executive by the Bank setting forth in reasonable detail the nature of such refusal; or
(iv) Willful breach of fiduciary duty or willful misconduct by the Executive or the Executive’s commission of an act of moral turpitude that materially and adversely affects the Bank or has the ability to do so. For purposes of this Section 5(f), no act, or failure to act, on the Executive’s part shall be deemed willful unless done, or omitted to be done, by the Executive without the reasonable belief that the Executive’s act, or failure to act, was in the best interest of the Bank. For the avoidance of doubt, the Board’s determination concerning whether “Cause” exists shall not be entitled to deference in the event of any proceeding concerning such determination.
Termination by the Bank for Cause. The Bank may, at any time and without notice (except as required below), terminate the Executive for “cause”. Termination by the Bank of the Executive for “cause” shall include but not be limited to termination based on any of the following grounds: (a) fraud, misappropriation, embezzlement or acts of similar dishonesty; (b) conviction of a crime (other than a minor traffic offense); (c) illegal use of drugs or excessive use of alcohol in the workplace; (d) intentional and willful misconduct that may subject the Bank to criminal or civil liability; or (e) breach of the Executive’s duty of loyalty to the Bank or diversion or usurpation of corporate opportunities properly belonging to the Bank; (f) willful disregard of material Bank policies and procedures; and (g) insubordination or continued failure to satisfactorily perform the duties of Executive’s position. Executive shall not be terminated for cause under subsection (f) or (g) unless the Bank first has provided Executive with written notice that the Bank considers the Executive to be in violation of his obligations under those subsections and Executive fails, within 30 days of such notice, to cure the conduct that has given rise to the notice. In the event of a termination by the Bank for cause, Executive shall be entitled to receive only that base salary earned on or before the Executive’s last day of active service and other post-employment benefits required by law or under Bank policy. Executive shall not be entitled to receive any portion of Executive’s target bonus for the period in which the termination occurs but shall receive any accrued bonus for any performance period completed prior to the date of termination.
Termination by the Bank for Cause. The Executive’s employment hereunder may be terminated for “cause” without further liability on the part of the Bank effective immediately upon a determination of the President or the Board of Directors that such “cause” exists. For purposes hereof, any one or more of the following shall constitute “cause” for such termination:
(i) Dishonesty of the Executive with respect to the Bank or any affiliate thereof;
(ii) Commission by the Executive of a crime punishable as a felony;
(iii) Failure by the Executive to perform in a satisfactory manner a substantial portion of his duties and responsibilities hereunder; or
(iv) Breach by the Executive of any term of this Agreement, including without limitation Section 9 hereof.
Termination by the Bank for Cause. The Bank may terminate this Agreement at any time for "cause" (as defined below) by giving to Executive ten (10) days prior written notice of termination.
Termination by the Bank for Cause. In the event of termination pursuant to Section 6(c), the Bank shall, within 90 days of the Date of Termination, pay to the Executive in a lump sum cash payment Executive’s accrued and unpaid salary to the Date of Termination. Thereafter, the Bank shall have no further obligation to Executive except as otherwise expressly provided under this Agreement, provided that any such termination shall not adversely affect or alter Executive’s rights under any employee benefit plan of the Bank in which Executive, at the Date of Termination, has a vested interest, unless otherwise provided in such employee benefit plan or any agreement or other instrument attendant thereto. In addition, in the event of termination pursuant to Section 6(c)(i) or (ii), all stock options held by Executive as of the Date of Termination shall immediately terminate and be of no further force and effect, and all other stock-based grants and awards shall be cancelled or terminated in accordance with their terms.
Termination by the Bank for Cause. The Bank may terminate the Employee's employment, and this Agreement, for "just cause," by giving the Employee thirty (30) days written notice of discharge for "just cause," or paying the Employee his salary for the thirty (30) day notice period in lieu of giving notice. The Employee shall not be entitled to any severance pay if he is discharged for "just cause." The term "just cause," as used in this Agreement, includes, but is not limited to, the following:
1. The Employee's refusal or willful failure to perform duties appropriately assigned by the Bank's President or Board of Directors, unless the Employee is unable to perform such duties due to a disability amounting to a "serious health condition" as defined in the federal Family and Medical Leave Act;
2. The Employee's inability to perform duties appropriately assigned by the Bank's President or Board of Directors due to physical or mental disability, but only after all family leave available to the Employee under the federal Family and Medical Leave Act, and all short term and long term disability leave provided by any applicable American Bank Employee Handbook, has been exhausted;
3. An act or omission by the Employee which, if it occurred, would be either a felony under Florida law, or a misdemeanor involving moral turpitude under Florida law, regardless of whether or not the Employee is prosecuted for this crime, and if prosecuted, regardless of the eventual disposition of the case;
4. A serious act of misconduct in connection with work by the Employee, dishonesty in connection with ABI or subsidiary business, misrepresentations of Directors, breach of the Employee's duty of loyalty to ABI or subsidiaries, or any related corporations, through appropriation or attempted appropriation of corporate opportunities for the Employee's own advantage, or through other conflicts of interest where the Employee acts for the Employee's own personal benefit, instead of for the benefit of American Bank, ABI or other ABI subsidiaries (it is the express intention of the parties that concerns relating to the competence of the Employee, or the Employee's job performance, are not "misconduct" as defined in this sub-paragraph); and
