Common use of Termination of Employee for Cause Clause in Contracts

Termination of Employee for Cause. (a) Notwithstanding anything herein contained, on or after the date hereof and prior to the end of the Employment Period, the Bank and the Bancorp, by action of the Boards of Directors (upon a vote of two-thirds of each of its members, excluding Employee), which determination shall be binding upon the parties for all purposes under this Agreement, shall have the right to terminate Employee's employment hereunder for Cause (as defined in subsection 10(b) below) by giving to Employee written notice of such termination as of a date (not earlier than ten (10) days after such notice) to be specified in such notice, and the Employment Period shall terminate on the date so specified, whereupon Employee shall be entitled to receive only his salary at the rate provided in Section 4(a), plus his accrued vacation pay, but only to the date on which termination shall take effect; provided, however, that if termination is due to physical or mental disability of Employee, such termination shall not affect any rights which Employee may have at the time of termination pursuant to any insurance or other death benefit, bonus, retirement, or arrangements of the Bank and the Bancorp; or any stock option plan or any options thereunder, which rights shall continue to be governed by the provisions of such plans and agreements. (b) For purposes of this Agreement, "Cause" shall mean the determination by the Boards of Directors, acting in good faith and by the vote of two-thirds of the members of each board, excluding Employee, with or without a meeting, that Employee has (i) willfully failed to perform or habitually neglected the duties which he is required to perform hereunder; or (ii) willfully failed to follow any policy of the Bank or the Bancorp which materially adversely affects the condition of the Bank or the Bancorp; or (iii) engaged in any activity in contravention of any Bank or Bancorp policy, statute, regulation or governmental policy which materially adversely affects the Bank’s or the Bancorp's condition, or its reputation in the community, or which evidences the lack of Employee's fitness or ability to perform Employee's duties; or (iv) willfully refused to follow any instruction from the Boards of Directors unless Employee asserts that compliance with such instruction would cause the Bank, the Bancorp or Employee to violate any federal or state statute, regulation or governmental or Bank/Bancorp policy; or (v) been convicted of or pleaded guilty or nolo contendere to any felony, or (vi) committed any act which would cause termination of coverage under the Bank or the Bancorp's Bankers Blanket Bond as to Employee, as distinguished from termination of coverage as to the Bank or the Bancorp as a whole.

Termination of Employee for Cause. (a) Notwithstanding anything herein contained, on or after the date hereof and prior to the end of the Employment Period, the Bank and the Bancorp, by action of the Boards of Directors (upon a vote of two-thirds of each of its members, excluding Employee), which determination shall be binding upon the parties for all purposes under this Agreement, shall have the right to terminate Employee's employment hereunder for Cause (as defined in subsection Subsection 10(b) below) by giving to Employee written notice of such termination as of a date (not earlier than ten (10) days after such notice) to be specified in such notice, and the Employment Period shall terminate on the date so specified, whereupon Employee shall be entitled to receive only his then accrued salary at the rate provided in Section 4(a), plus his accrued vacation pay, but only to the date on which termination shall take effect; provided, however, that if termination is due to physical or mental disability of Employee, such termination shall not affect any rights which Employee may have at the time of termination pursuant to any insurance or other death benefit, bonus, retirement, or arrangements of the Bank and the BancorpBank; or any stock option plan or any options thereunder, which rights shall continue to be governed by the provisions of such plans and agreementsarrangements. (b) For purposes of this Agreement, "Cause" shall mean the determination by the Boards Board of Directors, acting in good faith and by the vote of two-thirds of the members of each board, excluding Employeemajority vote, with or without a meeting, that Employee has (i) willfully failed to perform or habitually neglected the appropriate duties which he is required to perform hereunder; or (ii) willfully failed to follow any policy of the Bank or the Bancorp which materially adversely affects the condition of the Bank or the BancorpBank; or (iii) engaged in any activity in contravention of any Bank or Bancorp policy, statute, regulation or governmental policy which materially adversely affects the Bank’s or the Bancorp's condition, or its reputation in the community, or which evidences the lack of Employee's fitness or ability to perform Employee's duties; or (iv) willfully refused to follow any appropriate instruction from the Boards Board of Directors unless Employee asserts that compliance with such instruction would cause the Bank, the Bancorp Bank or Employee to violate any federal or state statute, regulation or governmental or Bank/Bancorp Bank policy; or (v) subject to subsection (c) below, become physically or mentally disabled or otherwise evidenced his inability to discharge his duties as an Senior Vice President of the Bank, or (vi) been convicted of or pleaded guilty or nolo contendere to any felony, or (vivii) committed any act which would cause termination of coverage under the Bank or the BancorpBank's Bankers Blanket Bond as to Employee, as distinguished from termination of coverage as to the Bank or the Bancorp as a whole.

Termination of Employee for Cause. (a) Notwithstanding anything herein contained, on or after the date hereof and prior to the end of the Employment Period, the Bank and the Bancorp, by action of the Boards of Directors (upon a vote of two-thirds of each of its members, excluding Employee), which determination shall be binding upon the parties for all purposes under this Agreement, shall have the right to terminate Employee's employment hereunder for Cause (as defined in subsection Subsection 10(b) below) by giving to Employee written notice of such termination as of a date (not earlier than ten (10) days after such notice) to be specified in such notice, and the Employment Period shall terminate on the date so specified, whereupon Employee shall be entitled to receive only his her then accrued salary at the rate provided in Section 4(a), plus his her accrued vacation pay, but only to the date on which termination shall take effect; provided, however, that if termination is due to physical or mental disability of Employee, such termination shall not affect any rights which Employee may have at the time of termination pursuant to any insurance or other death benefit, bonus, retirement, or arrangements of the Bank and the BancorpBank; or any stock option plan or any options thereunder, which rights shall continue to be governed by the provisions of such plans and agreementsarrangements. (b) For purposes of this Agreement, "Cause" shall mean the determination by the Boards Board of Directors, acting in good faith and by the vote of two-thirds of the members of each board, excluding Employeemajority vote, with or without a meeting, that Employee has (i) willfully failed to perform or habitually neglected the appropriate duties which he she is required to perform hereunder; or (ii) willfully failed to follow any policy of the Bank or the Bancorp which materially adversely affects the condition of the Bank or the BancorpBank; or (iii) engaged in any activity in contravention of any Bank or Bancorp policy, statute, regulation or governmental policy which materially adversely affects the Bank’s or the Bancorp's condition, or its reputation in the community, or which evidences the lack of Employee's fitness or ability to perform Employee's duties; or (iv) willfully refused to follow any appropriate instruction from the Boards Board of Directors unless Employee asserts that compliance with such instruction would cause the Bank, the Bancorp Bank or Employee to violate any federal or state statute, regulation or governmental or Bank/Bancorp Bank policy; or (v) subject to subsection (c) below, become physically or mentally disabled or otherwise evidenced her inability to discharge her duties as an Executive Vice President of the Bank, or (vi) been convicted of or pleaded guilty or nolo contendere to any felony, or (vivii) committed any act which would cause termination of coverage under the Bank or the BancorpBank's Bankers Blanket Bond as to Employee, as distinguished from termination of coverage as to the Bank or the Bancorp as a whole.

Termination of Employee for Cause. (a) Notwithstanding anything herein contained, on or after the date hereof and prior to the end of the Employment Period, the Bank and the Bancorp, by action of the Boards of Directors (upon a vote of two-thirds of each of its members, excluding Employee), which determination shall be binding upon the parties for all purposes under this Agreement, Company shall have the right to terminate Employee's employment hereunder for Cause (as defined in subsection Subsection 10(b) below) by giving to Employee written notice of such termination as of a date (not earlier than ten thirty (1030) days after such notice) to be specified in such notice, and the Employment Period shall terminate on the date so specified, whereupon Employee shall be entitled to receive only his six (6) months salary at the rate provided in Section 4(a)3, plus his accrued vacation pay, but only to the date on which termination shall take effect; provided, however, that if termination is due to physical or mental disability of Employee, such termination shall not affect any rights which Employee may have at the time of termination pursuant to any insurance or other death benefit, bonus, retirement, or arrangements of the Bank and the BancorpCompany; or any stock option plan or any options thereunder, which rights shall continue to be governed by the provisions of such plans and agreementsarrangements, and Sections 7, 8, and 9 of this Agreement. (b) For purposes of this Agreement, "Cause" shall mean the determination by the Boards Board of Directors, acting in good faith and by the vote of two-thirds of the members of each board, excluding Employee, with or without vote in a duly constituted meeting, that Employee has (i) willfully failed to perform or habitually neglected the appropriate duties which he is required to perform hereunder; or (ii) willfully failed to follow any significant policy of the Bank or the Bancorp Company which materially or adversely affects the condition of the Bank or the BancorpCompany; or (iii) engaged in any activity in contravention of any Bank or Bancorp significant company policy, statute, regulation or governmental policy which materially or adversely affects the Bank’s or the BancorpCompany's condition, or its reputation in the community, or which evidences the lack of Employee's fitness or ability to perform Employee's duties; or (iv) willfully refused to follow any lawful and appropriate instruction from the Boards Board of Directors unless Employee asserts that compliance with such instruction would cause the Bank, the Bancorp Company or Employee to violate any federal or state statute, regulation or regulation, governmental or Bank/Bancorp Company policy; or (v) subject to Subsection (c) below, become physically or mentally disabled and evidences his inability to discharge his duties as Chief Executive Officer of the Company; or (vi) been convicted of or pleaded guilty or nolo contendere to any felony, ; or (vivii) committed any act which would cause termination of coverage under the Bank or the BancorpCompany's Bankers Blanket Bond as to Employee, as distinguished from termination of coverage as to the Bank or the Bancorp Company as a whole. For purposes of this Agreement, "Cause" shall also mean the Company is required to remove or replace Employee by formal order or instruction, including a consent order or agreement, from the California State Banking Department, the Federal Reserve Bank, or any other supervisory authority having jurisdiction.

Termination of Employee for Cause. (a) Notwithstanding anything herein contained, on or after the date hereof and prior to the end of the Employment Period, the Bank and the Bancorp, by action of the Boards of Directors (upon a vote of two-thirds of each of its members, excluding Employee), which determination shall be binding upon the parties for all purposes under this Agreement, shall have the right to F & M may terminate Employee's employment hereunder under this Agreement for Cause (as defined hereinafter defined) at any time and thereafter F & M's obligations pursuant to paragraphs 5 and 6 of this Agreement shall cease and terminate. Notwithstanding anything to the contrary contained in subsection 10(b) below) by giving to Employee written notice of such termination as of a date (not earlier than ten (10) days after such notice) to be specified in such noticethis Agreement, and the Employment Period shall terminate on the date so specifiedif Employee's employment is terminated for Cause, whereupon Employee shall be receive all compensation and other benefits to which he was entitled under paragraphs 5 and 6 only through the Termination Date, and, shall receive all accrued benefits available to receive only his salary at him under F & M's benefit plans as in effect on and effective through the rate provided Termination Date in Section 4(a), plus his accrued vacation pay, but only to the date on which termination shall take effect; provided, however, that if termination is due to physical or mental disability of Employee, such termination shall not affect any rights which Employee may have at the time of termination pursuant to any insurance or other death benefit, bonus, retirement, or arrangements of the Bank and the Bancorp; or any stock option plan or any options thereunder, which rights shall continue to be governed by the provisions of such plans and agreements. (b) For purposes of this Agreementaccordance with their terms. As used herein, "Cause" shall mean the determination by the Boards of Directors, acting in good faith and by the vote of two-thirds of the members of each board, excluding Employee, with or without a meeting, that Employee has (i) willfully failed any willful act by Employee which is fraudulent or illegal and which is materially injurious to perform F & M or habitually neglected the duties which he is required to perform hereunder; any of F & M's subsidiaries, monetarily or otherwise, (ii) willfully failed the continued failure by Employee to substantially perform his duties with F & M as may be assigned to him from time to time or his obligations under this Agreement (other than any such failure resulting from Employee's incapacity due to Disability), or to follow any policy the policies and procedures of the Bank or the Bancorp which materially adversely affects the condition of the Bank or the Bancorp; or F & M, (iii) engaged the dishonesty, fraud, or other conduct which constitutes a crime (except for traffic or other violations which result in civil forfeitures) under laws, statutes, regulations, rulings, administrative code, policy or procedure of the State of Wisconsin or any activity in contravention local subdivision thereof or the United States of America or of any Bank administrative agency of the State of Wisconsin or Bancorp policyany subdivision thereof or of the United States of America, statute, regulation or governmental policy which materially adversely affects the Bank’s or the Bancorp's condition, or its reputation in the community, or which evidences the lack of Employee's fitness or ability to perform Employee's duties; or (iv) willfully refused to follow any instruction from the Boards of Directors unless Employee asserts that compliance with such instruction would cause the Bank"Misconduct" as set forth in Wis. Stats. Section 108.04(5), the Bancorp or Employee to violate any federal or state statuteWisconsin Unemployment Compensation Law and the decisions thereunder. Termination may be without notice for violations of subparts 9(b) (i), regulation or governmental or Bank/Bancorp policy; (iii) or (viv). In the event of a proposed termination for the reasons set forth in the subpart (ii) been convicted of subparagraph 9(b), the Employee shall be entitled to written notice and thirty (30) days opportunity to explain and cure such breach or pleaded guilty or nolo contendere to any felony, or (vi) committed any act which would cause termination of coverage under the Bank or the Bancorp's Bankers Blanket Bond as to Employee, as distinguished from termination of coverage as failure to the Bank satisfaction of F & M. If Employee has explained and/or cured such breach or failure within such thirty (30) day period, the Bancorp notice of termination shall be rescinded and Employee shall remain employed hereunder, subject to such further terms or conditions as a wholethe parties may establish by mutual agreement.