Common use of Termination of Executive for Cause Clause in Contracts

Termination of Executive for Cause. Upon or following a Change in Control, the Company shall have the right at any time to terminate the Executive's employment for Cause. In such event, the Company shall give prompt notice to the Executive, specifying in reasonable detail the basis for such termination. For purposes of this Agreement, "Cause" shall mean the following conduct of the Executive:

Appears in 3 contracts

Samples: Executive Employment Agreement (Usbancorp Inc /Pa/), Executive Agreement (Ameriserv Financial Inc /Pa/), Executive Employment Agreement (Three Rivers Bancorp Inc)

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Termination of Executive for Cause. Upon or following a Change in Control, the The Company shall have the right to terminate Executive's employment at any time for "cause." Prior to terminate the Executive's employment for Cause. In such eventtermination, the Company shall give prompt notice provide Executive with written notification of any and all allegations constituting "cause" and the Executive shall be given five (5) working days after receipt of such written notification to the Executive, specifying respond to those allegations in reasonable detail the basis for such terminationwriting. For purposes of this Agreement, "Cause" shall mean the following conduct Upon receipt of the Executive:'s response, the Company shall meet with the Executive to discuss the allegations, but, thereafter, Company may take such action as it deems appropriate, including, termination of employment.

Appears in 1 contract

Samples: Employment, Nondisclosure and Non Compete Agreement (Richardson Electronics LTD/De)

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Termination of Executive for Cause. Upon or following a Change in Control, the Company or Standard shall have the right at any time to terminate the Executive's employment for Cause. In such event, the Company shall give prompt notice to the Executive, specifying in reasonable detail the basis for such termination. For purposes of this Agreement, "Cause" shall mean the following conduct of the Executive:

Appears in 1 contract

Samples: Executive Employment Agreement (Usbancorp Inc /Pa/)

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