Common use of Termination Without Severance Benefits Clause in Contracts

Termination Without Severance Benefits. In the event that the Officer’s employment with the Bank shall terminate during the Assurance Period on account of: (a) the discharge of the Officer for “cause,” which, for purposes of this Agreement shall mean personal dishonesty, incompetence, willful misconduct, breach of 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 any material breach of this Agreement, in each case as measured against standards generally prevailing at the relevant time in the savings and community banking industry; provided, however, that the Officer shall not be deemed to have been discharged for cause unless and until he shall have received a written notice of termination from the Board, accompanied by a resolution duly adopted by affirmative vote of a majority of the entire Board at a meeting called and held for such purpose (after reasonable notice to the Officer and a reasonable opportunity for the Officer to make oral and written presentations to the members of the Board, on his own behalf, or through a representative, who may be his legal counsel, to refute the grounds for the proposed determination) finding that in the good faith opinion of the Board grounds exist for discharging the Officer for cause; or (b) the Officer’s voluntary resignation from employment with the Bank for reasons other than those specified in section 8(a)(I); or (c) the Officer’s death; or (d) a determination that the Officer is eligible for long-term disability benefits under the Bank’s long-term disability insurance program or, if there is no such program, under the federal Social Security Act; then the Bank shall have no further obligations under this Agreement, other than the payment to the Officer (or, in the event of his death, to his estate) of his earned but unpaid salary as of the date of the termination of his employment, and the provision of such other benefits, if any, to which the Officer is entitled as a former employee under the employee benefit plans and pro­grams and compensation plans and programs maintained by, or covering employees of, the Bank.

Termination Without Severance Benefits. In the event that the Officer’s 's employment with the Bank shall terminate during the Assurance Period on account of: (a) the discharge of the Officer for “"cause,” " which, for purposes of this Agreement shall mean personal dishonesty, incompetence, willful misconduct, breach of 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 any material breach of this Agreement, in each case as measured against standards generally prevailing at the relevant time in the savings and community banking industry; provided, however, that the Officer shall not be deemed to have been discharged for cause unless and until he shall have received a written notice of termination from the Board, accompanied by a resolution duly adopted by affirmative vote of a majority of the entire Board at a meeting called and held for such purpose (after reasonable notice to the Officer and a reasonable opportunity for the Officer to make oral and written presentations to the members of the Board, on his own behalf, or through a representative, who may be his legal counsel, to refute the grounds for the proposed determination) finding that in the good faith opinion of the Board grounds exist for discharging the Officer for cause; or (b) the Officer’s 's voluntary resignation from employment with the Bank for reasons other than those specified in section 8(a)(I8(a)(i); or (c) the Officer’s 's death; or (d) a determination that the Officer is eligible for long-term disability benefits under the Bank’s 's long-term disability insurance program or, if there is no such program, under the federal Social Security Act; then the Bank shall have no further obligations under this Agreement, other than the payment to the Officer (or, in the event of his death, to his estate) of his earned but unpaid salary as of the date of the termination of his employment, and the provision of such other benefits, if any, to which the Officer is entitled as a former employee under the employee benefit plans and pro­grams and compensation plans and programs maintained by, or covering employees of, the Bank.

Termination Without Severance Benefits. In the event that the Officer’s 's employment with the Bank shall terminate during the Assurance Period on account of: (a) the discharge of the Officer for “"cause,” " which, for purposes of this Agreement shall mean personal dishonesty, incompetence, willful misconduct, breach of 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 any material breach of any provision of this Agreement, in each case as measured against standards generally prevailing at the relevant time in the savings and community banking industry; provided, however, that the Officer shall not be deemed to have been discharged for cause unless and until he or she shall have received a written notice of termination from the Board, accompanied by a resolution duly adopted by affirmative vote of a majority of the entire Board at a meeting called and held for such purpose (after reasonable notice to the Officer and a reasonable opportunity for the Officer to make oral and written presentations to the members of the Board, on his or her own behalf, or through a representative, who may be his or her legal counsel, to refute the grounds for the proposed determination) finding that in the good faith opinion of the Board grounds exist for discharging the Officer for cause; or (b) the Officer’s 's voluntary resignation from employment with the Bank for reasons other than those specified in section 8(a)(I8(a)(i); or (c) the Officer’s 's death; or (d) a determination that the Officer is eligible for long-term disability benefits under the Bank’s long-'s long- term disability insurance program or, if there is no such program, under the federal Social Security Act; then the Bank shall have no further obligations under this Agreement, other than the payment to the Officer (or, in the event of his or her death, to his or her estate) of his or her earned but unpaid salary as of the date of the termination of his or her employment, and the provision of such other benefits, if any, to which the Officer is entitled as a former employee under the employee benefit plans and pro­grams programs and compensation plans and programs maintained by, or covering employees of, the Bank.

Termination Without Severance Benefits. In the event that the Officer’s employment with the Bank shall terminate during the Assurance Period on account of: (a) the discharge of the Officer for “cause,” which, for purposes of this Agreement shall mean personal dishonesty, incompetence, willful misconduct, breach of 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 any material breach of this Agreement, in each case as measured against standards generally prevailing at the relevant time in the savings and community banking industry; provided, however, that the Officer shall not be deemed to have been discharged for cause unless and until he shall have received a written notice of termination from the Board, accompanied by a resolution duly adopted by affirmative vote of a majority of the entire Board at a meeting called and held for such purpose (after reasonable notice to the Officer and a reasonable opportunity for the Officer to make oral and written presentations to the members of the Board, on his own behalf, or through a representative, who may be his legal counsel, to refute the grounds for the proposed determination) finding that in the good faith opinion of the Board grounds exist for discharging the Officer for cause; or (b) the Officer’s voluntary resignation from employment with the Bank for reasons other than those specified in section 8(a)(I); or (c) the Officer’s death; or (d) a determination that the Officer is eligible for long-term disability benefits under the Bank’s long-term disability insurance program or, if there is no such program, under the federal Social Security Act; then the Bank shall have no further obligations under this Agreement, other than the payment to the Officer (or, in the event of his death, to his estate) of his earned but unpaid salary as of the date of the termination of his employment, and the provision of such other benefits, if any, to which the Officer is entitled as a former employee under the employee benefit plans and pro­grams pro-grams and compensation plans and programs maintained by, or covering employees of, the Bank.

Termination Without Severance Benefits. In the event that the Officer’s 's employment with the Bank shall terminate during the Assurance Period on account of: (a) the discharge of the Officer for “"cause,” " which, for purposes of this Agreement shall mean personal dishonesty, incompetence, willful misconduct, breach of 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 any material breach of this Agreement, in each case as measured against standards generally prevailing at the relevant time in the savings and community banking industry; provided, however, that the Officer shall not be deemed to have been discharged for cause unless and until he or she shall have received a written notice of termination from the Board, accompanied by a resolution duly adopted by affirmative vote of a majority of the entire Board at a meeting called and held for such purpose (after reasonable notice to the Officer and a reasonable opportunity for the Officer to make oral and written presentations to the members of the Board, on his or her own behalf, or through a representative, who may be his or her legal counsel, to refute the grounds for the proposed determination) finding that in the good faith opinion of the Board grounds exist for discharging the Officer for cause; or (b) the Officer’s 's voluntary resignation from employment with the Bank for reasons other than those specified in section 8(a)(I8(a)(i); or (c) the Officer’s 's death; or (d) a determination that the Officer is eligible for long-term disability benefits under the Bank’s 's long-term disability insurance program or, if there is no such program, under the federal Social Security Act; then the Bank shall have no further obligations under this Agreement, other than the payment to the Officer (or, in the event of his or her death, to his or her estate) of his or her earned but unpaid salary as of the date of the termination of his or her employment, and the provision of such other benefits, if any, to which the Officer is entitled as a former employee under the employee benefit plans and pro­grams programs and compensation plans and programs maintained by, or covering employees of, the Bank.

Termination Without Severance Benefits. In the event that the Officer’s Executive's employment with the Bank (and the Company, if applicable) shall terminate during the Assurance Period on account of: (a) the discharge of the Officer Executive for “"cause,” " which, for purposes of this Agreement shall mean personal dishonesty, incompetence, willful misconductmisconduct that is materially injurious to the financial condition of the Bank or the Company, breach of fiduciary duty involving personal profit, intentional failure conviction for a felony or the agreement of the Executive to perform stated duties, willful violation plead guilty to a felony or the entering of any law, rule or regulation (other than traffic violations or similar offenses) or a final cease and desist order, or any material breach of this Agreement, in each case as measured against standards generally prevailing at order by the relevant time in the savings and community banking industryappropriate regulatory authority; provided, however, that the Officer Executive shall not be deemed to have been discharged for cause unless and until he shall have received a written notice of termination from the Board, accompanied by a resolution duly adopted by affirmative vote of a majority three quarters of the entire Board at a meeting called and held for such purpose (after reasonable notice to the Officer Executive and a reasonable opportunity for the Officer Executive to make oral and written presentations to the members of the Board, on his own behalf, or through a representative, who may be his legal counsel, to refute the grounds for the proposed determination) finding that in the good faith opinion of the Board grounds exist for discharging the Officer Executive for cause; or (b) the Officer’s Executive's voluntary resignation from employment with the Bank for reasons other than those specified in section 8(a)(I8(a)(i) or 8(a) (iii); or (c) the Officer’s Executive's death; or (d) a determination that the Officer Executive is eligible for long-term disability benefits under the Bank’s 's long-term disability insurance program or, if there is no such program, under the federal Social Security Act; then the Bank and the Company shall have no further obligations under this Agreement, other than the payment to the Officer Executive (or, in the event of his death, to his estate) of his earned but unpaid salary as of the date of the termination of his employment, and the provision of such other benefits, if any, to which the Officer Executive is entitled as a former employee under the employee benefit plans and pro­grams programs and compensation plans and programs maintained by, or covering employees of, the BankBank (and the Company, if applicable).

Termination Without Severance Benefits. In the event that the Officer’s 's employment with the Bank shall terminate during the Assurance Period on account of: (a) the discharge of the Officer for “"cause,” " which, for purposes of this Agreement shall mean personal dishonesty, incompetence, willful misconduct, breach of 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 any material breach of any provision of this Agreement, in each case as measured against standards generally prevailing at the relevant time in the savings and community banking industry; provided, however, that the Officer shall not be deemed to have been discharged for cause unless and until he or she shall have received a written notice of termination from the Board, accompanied by a resolution duly adopted by affirmative vote of a majority of the entire Board at a meeting called and held for such purpose (after reasonable notice to the Officer and a reasonable opportunity for the Officer to make oral and written presentations to the members of the Board, on his or her own behalf, or through a representative, who may be his or her legal counsel, to refute the grounds for the proposed determination) finding that in the good faith opinion of the Board grounds exist for discharging the Officer for cause; or (b) the Officer’s 's voluntary resignation from employment with the Bank for reasons other than those specified in section 8(a)(I8(a)(i); or (c) the Officer’s 's death; or (d) a determination that the Officer is eligible for long-term disability benefits under the Bank’s 's long-term disability insurance program or, if there is no such program, under the federal Social Security Act; then the Bank shall have no further obligations under this Agreement, other than the payment to the Officer (or, in the event of his or her death, to his or her estate) of his or her earned but unpaid salary as of the date of the termination of his or her employment, and the provision of such other benefits, if any, to which the Officer is entitled as a former employee under the employee benefit plans and pro­grams programs and compensation plans and programs maintained by, or covering employees of, the Bank.