Termination For Cause

Termination For Cause. Shall mean termination because of, in the good faith determination of the Board, Executive's: (1) personal dishonesty; (2) incompetence; (3) willful misconduct; (4) breach of fiduciary duty involving personal profit; (5) material breach of the Bank's Code of Ethics; (6) material violation of the Sarbanes-Oxley... requirements for officers of public companies that in the reasonable opinion of the Board will likely cause substantial financial harm or substantial injury to the reputation of the Bank; (7) intentional failure to perform stated duties; (8) willful violation of any law, rule or regulation (other than traffic violations or similar offenses), any felony conviction, any violation of law involving moral turpitude, or any violation of a final cease-and-desist order; or 3 (9) material breach by Executive of any provision of this Agreement. A determination of whether Executive's employment shall be terminated for Cause shall be made at a meeting of the Board called and held for such purpose, or in such other manner as is permitted under the By-laws of the Bank, upon a finding that in good faith opinion of the Board an event set forth in clauses (1), (2), (3), (4), (5), (6), (7), (8), or (9) above has occurred and specifying the particulars thereof in detail. View More

Termination For Cause. Termination of the employment of the Employee because of the Employee's personal dishonesty, incompetence, willful misconduct, breach of a fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. No act or failure to act by the Employee shall be considered willful unless the... Employee acted or failed to act with an absence of good faith and without a reasonable belief that his action or failure to act was in the best interest of the Company or the Savings Bank. The Employee shall not be deemed to have been Terminated for Cause unless and until there shall have been delivered to the Employee a copy of a resolution, duly adopted by the Board of Directors at a meeting of the Board duly called and held for such purpose (after reasonable notice to the Employee and an opportunity for the Employee, together with the Employee's counsel, to be heard before the Board), stating that in the good faith opinion of the Board of Directors the Employee has engaged in conduct described in the preceding sentence and specifying the particulars thereof in detail. View More

Termination For Cause. Termination of the employment of the Employee because of the Employee's personal dishonesty, incompetence, willful misconduct, breach of a fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement.

Termination For Cause. Termination of the Executive's employment by the Bank because of, in the good faith determination of the Board of Directors, the Executive's: (i) material act of dishonesty or fraud in performing the Executive's duties on behalf of the Bank; (ii) willful misconduct that in the judgment of the Board of Directors will likely cause economic damage to the Bank or injury to the business reputation of the Bank; (iii) breach of fiduciary duty involving personal profit; (iv) intentional failure to... perform the Executive's stated duties after written notice thereof from the Board of Directors; 3 (v) willful violation of any law, rule or regulation (other than traffic violations or similar offenses which results only in a fine or other non-custodial penalty) that reflect adversely on the reputation of the Bank; any felony conviction, any violation of law involving moral turpitude, or any violation of a final cease-and-desist order; or any violation of the policies and procedures of the Bank as outlined in the Bank's employee handbook or policies, which would result in the termination of employment of employees of the Bank, as from time to time amended and incorporated herein by reference; or (vi) material breach of any provision of this Agreement. View More

Termination For Cause. Shall mean only a termination by the Company as a result of: (i) the Executive's willful and continuing failure, that is not remedied within twenty days after receipt of written notice of such failure from the Company, to perform his obligations hereunder; (ii) the Executive's conviction of, or the pleading of nolo contendre to, a crime of embezzlement, fraud or a felony under the laws of the United States or any state thereof; (iii) the Executive's breach of fiduciary responsibility; or (iv)... an act of dishonesty by the Executive which is materially injurious to the Company. Any determination of Cause under this Agreement shall be made by resolution adopted by a two-thirds (2/3) vote of the Board at a meeting called and held for that purpose. The Executive shall be provided with reasonable notice of such meeting and shall be given the opportunity to be heard, with the presence of counsel, prior to the vote being taken by the Board. View More

Termination For Cause. Shall mean the termination of employment of Employee as a result of (i) act or acts of dishonesty or illegal conduct undertaken by Employee and intended to result in gain or personal enrichment of Employee, (ii) failure by Employee to perform, or gross negligence in performing, the duties and obligations of Employee's employment which failure is not remedied within ten days following written notice from the Company; (iii) the conviction of Employee of a felony; (iv) Employee's continued breach... of any term of this Agreement after notice and ten days opportunity to cure, or (v) a breach of the Noncompetition, Nondisclosure and Developments Agreement of even date herewith between the Company and Employee. View More

Termination For Cause. Shall mean termination of Executive's employment by the Company (or its subsidiaries) by reason of Executive's (i) gross negligence in the performance of his duties, (ii) willful and continued failure to perform his duties, (iii) willful engagement in conduct which is materially injurious to the Company or its subsidiaries (monetarily or otherwise) or (iv) conviction of a felony or a misdemeanor involving moral turpitude.

Termination For Cause. Shall have the meaning provided in Agreement paragraph 7(a).

Termination For Cause. Shall mean the termination by the Company of Optionee's employment with the Company as a result of (i) the Optionee's willful and continued failure to substantially perform Optionee's duties (other than any such failure resulting from the Optionee's Disability or any such failure subsequent to the Optionee being delivered notice of the Company's intent to terminate the Optionee's employment without Cause), (ii) conviction of, or a plea of nolo contendere to, (A) a felony (other than... traffic-related) under the laws of the United States or any state thereof or any similar criminal act in a jurisdiction outside the United States or (B) a crime involving moral turpitude that could be injurious to the Company or its reputation, (iii) the Optionee's willful malfeasance or willful misconduct which is materially and demonstrably injurious to the Company, or (iv) any act of fraud by the Optionee in the performance of the Optionee's duties. View More

Termination For Cause. The Bank terminating the Participant's employment for conviction of a felony resulting in a material economic adverse effect on the Bank