Termination of Employment of Executive for Cause

Termination of Employment of Executive for Cause. Shall mean a termination of the Employment of Executive by Arrow or the Bank pursuant to Paragraph 7(a) for any one or more of the following "Causes:"(i) any willful misconduct by the Executive which is materially injurious to Arrow or the Bank or their Affiliates, monetarily or otherwise; (ii) any willful failure by the Executive to follow the reasonable directions of the Arrow Board or the Bank Board or the Chief Executive Officer of Arrow or the Bank; (iii) any failure by the... Executive substantially to perform any reasonable directions of the Arrow Board or the Bank Board or the Chief Executive Officer of Arrow or the Bank (other than failure resulting from disability or death), within thirty (30) days after delivery to the Executive by the respective Board or the Chief Executive Officer of Arrow or the Bank of a written demand for substantial performance, which written demand shall specifically identify the manner in which the respective Board or the Chief Executive Officer of Arrow or the Bank believes that the Executive has not substantially performed; (iv) any inability of the Executive to serve as an officer or director of any subsidiary company, or perform any substantial portion of Executive's duties hereunder, by reason of any order of the Federal Deposit Insurance Corporation, the Office of the Comptroller of Currency, or any other regulatory authority or agency having jurisdiction over Bank or any of its Affiliates; or(v) intentionally providing false or misleading information to, or otherwise misleading, the Arrow Board, the Bank Board or any committee thereof. View More