Common use of Termination for Which No Severance Benefits Are Payable Clause in Contracts

Termination for Which No Severance Benefits Are Payable. Anything in this Agreement to the contrary notwithstanding, under no circumstance shall the Executive be entitled to severance benefits if employment termination is for Cause. For purposes of this Agreement, “Cause” means the Executive shall have committed any of the following acts -

Appears in 4 contracts

Samples: Change in Control Agreement (Newmil Bancorp Inc), Change in Control Agreement (Newmil Bancorp Inc), Change in Control Agreement (Newmil Bancorp Inc)

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Termination for Which No Severance Benefits Are Payable. Anything in (a) No Severance after Termination for Cause. Despite any provision of this Severance Agreement to the contrary notwithstandingcontrary, under no circumstance shall the Executive be entitled to severance benefits if the Executive’s employment termination is terminates for Cause. For purposes of this Agreement, “Cause” Severance Agreement the term Cause means the Executive shall have committed any of the following acts -

Appears in 1 contract

Samples: Severance Agreement (Cape Fear Bank CORP)

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