Common use of Termination by the Bank Clause in Contracts

Termination by the Bank. The Bank may terminate the employment of the Executive as follows: (i) For Cause upon the adoption of a resolution by the affirmative vote of not less than a majority of the Bank’s Board of Directors at a meeting of the Board (after reasonable notice to the Executive and an opportunity for the Executive, together with counsel, to be heard by the Board), finding that, in the good faith belief of the Board, the Executive engaged in the conduct set forth in the definition of “Cause” in Section 1 and specifying the particulars thereof in detail, it being understood that a vote of the Board will not be required if the Executive is removed for cause by the Bank at the direction of the Federal Housing Finance Agency, or by the Federal Housing Finance Agency, or by or at the direction of any successor to the Federal Housing Finance Agency, pursuant to 12 U.S.C. §§ 4615, 4616, 4617 or 4636a, or any statutory provisions subsequently enacted that grant removal authority to such agency, or any rules or regulations issued thereunder; (ii) Without Cause; (iii) Upon the Disability of the Executive; and (iv) Upon the death of the Executive.

Termination by the Bank. The Bank may terminate the employment of the Executive as follows: (i) For Cause upon the adoption of a resolution by the affirmative vote of not less than a majority of the entire membership of the Bank’s Board of Directors at a meeting of the Board (after reasonable notice to the Executive and an opportunity for the Executive, together with counsel, to be heard by the Board), finding that, that in the good faith belief opinion of the Board, Board the Executive engaged in the was guilty of conduct set forth in the definition of “Cause” in Section 1 and specifying the particulars thereof in detail, it being understood that a . A vote of the Board will is not be required if the Executive is removed for cause by the Bank at the direction of the Federal Housing Finance Agency, or by the Federal Housing Finance Agency, or by or at the direction of any successor to the Federal Housing Finance Agency, pursuant to 12 U.S.C. §§ 4615, 4616, 4617 or 4636a, or any statutory provisions subsequently enacted that grant removal authority to such agency, or any rules or regulations issued thereunder.; (ii) Without Cause; (iii) Upon the Disability of the Executive; and (iv) Upon the death of the Executive.

Termination by the Bank. The Bank may terminate the employment of the Executive as follows: (i) For Cause upon the adoption of a resolution by the affirmative vote of not less than a majority of the entire membership of the Bank’s 's Board of Directors at a meeting of the Board (after reasonable notice to the Executive and an opportunity for the Executive, together with counsel, to be heard by the Board), finding that, that in the good faith belief opinion of the Board, Board the Executive engaged in the was guilty of conduct set forth in the definition of “Cause” in Section 1 and specifying the particulars thereof in detail, it being understood that a . A vote of the Board will is not be required if the Executive is removed for cause by the Bank at the direction of the Federal Housing Finance Agency, or by the Federal Housing Finance Agency, or by or at the direction of any successor to the Federal Housing Finance Agency, pursuant to 12 U.S.C. §§ 4615, 4616, 4617 or 4636a, or any statutory provisions subsequently enacted that grant removal authority to such agency, or any rules or regulations issued thereunder.; (ii) Without Cause; (iii) Upon the Disability of the Executive; and (iv) Upon the death of the Executive.

Termination by the Bank. The Bank may terminate the employment of the Executive as follows:: ​ (i) For Cause upon the adoption of a resolution by the affirmative vote of not less than a majority of the Bank’s 's Board of Directors at a meeting of the Board (after reasonable notice to the Executive and an opportunity for the Executive, together with counsel, to be heard by the Board), finding that, in the good faith belief of the Board, the Executive engaged in the conduct set forth in the definition of “Cause” in Section 1 and specifying the particulars thereof in detail, it being understood that a vote of the Board will not be required if the Executive is removed for cause by the Bank at the direction of the Federal Housing Finance Agency, or by the Federal Housing Finance Agency, or by or at the direction of any successor to the Federal Housing Finance Agency, pursuant to 12 U.S.C. §§ 4615, 4616, 4617 or 4636a, or any statutory provisions subsequently enacted that grant removal authority to such agency, or any rules or regulations issued thereunder; (ii) Without Cause; (iii) Upon the Disability of the Executive; and (iv) Upon the death of the Executive.​

Termination by the Bank. The Bank may terminate the employment of the Executive as follows: (i) For Cause upon the adoption of a resolution by the affirmative vote of not less than a majority of the entire membership of the Bank’s Board of Directors at a meeting of the Board (after reasonable notice to the Executive and an opportunity for the Executive, together with counsel, to be heard by the Board), finding that, that in the good faith belief opinion of the Board, Board the Executive engaged in the was guilty of conduct set forth in the definition of “Cause” in Section 1 hereof and specifying the particulars thereof in detail, it being understood that a . A vote of the Board will is not be required if the Executive is removed for cause by the Bank at the direction of the Federal Housing Finance Agency, or by the Federal Housing Finance Agency, or by or at the direction of any successor to the Federal Housing Finance Agency, pursuant to 12 U.S.C. §§ 4615, 4616, 4617 or 4636a, or any statutory provisions subsequently enacted that grant removal authority to such agency, or any rules or regulations issued thereunder.; (ii) Without Cause; (iii) Upon the Disability of the Executive; and (iv) Upon the death of the Executive.