Disloyalty definition

Disloyalty shall include, but shall not be limited to, fraud, theft, embezzlement, disclosures of secret or confidential information of the Corporation or any Subsidiary, violation of any agreement with the Corporation or any Subsidiary concerning secrecy or confidentiality of information or, without the prior written consent of the Committee, the Executive, directly or indirectly, in any manner, requesting, influencing or inducing any employee of the Corporation or any of its Subsidiaries to leave his employment therewith, or, directly or indirectly, being an owner, director, officer, employee, partner or agent of, or in any way associated with, any business which is in any way competitive with any aspect of the business engaged in by the Corporation or any of its Subsidiaries (other than the ownership of one percent (1%) or less of the outstanding stock of a corporation whose stock is listed on a national securities exchange or an over-the-counter stock listed by the National Association of Securities Dealers).
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Examples of Disloyalty in a sentence

  • If, prior to the expiration of the Employment Term, the Executive's employment is terminated by the Company for Cause, the Executive shall be entitled only to his Severance Pay, unless such termination is for a Disloyalty Termination Event, in which case the Executive shall be entitled only to payment of his Base Salary as then in effect through and including the date of termination.

  • Termination of the Executive's employment for a Conduct, Performance or Disloyalty Termination Event shall be determined by a single arbitrator selected from a list of three potential arbitrators offered by ENDISPUTE of ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ("ENDISPUTE").

  • The date of termination for a Felony Termination Event (as defined in Section 4.2 below) shall be the date of the written Notice of Termination provided for in Section 4.1.3. The date of termination for a Conduct, Performance or Disloyalty Termination Event shall be the date the Event is finally determined through arbitration.

  • All disputes involving termination of the Executive's employment for a Conduct, Performance or Disloyalty Termination Event shall be resolved by binding arbitration administered by the American Arbitration Association (the "AAA") in accordance with the terms of this Agreement, and the Commercial Arbitration Rules of the AAA.

  • If, prior to the expiration of the Employment Term, the Executive's employment is terminated by the Company for Cause, the Executive shall be entitled only to his Severance Pay, if applicable, unless such termination is for a Disloyalty Termination Event (as described in Section 4.2 below), in which case the Executive shall be entitled only to payment of his Base Salary as then in effect through and including the date of termination.

  • If, prior to the expiration of the Employment Term, the Executive's employment is terminated by the Company for Cause, the Executive shall be entitled only to twelve months of his Base Salary as severance, payable in arrears in ▇▇▇▇ installments not less freuently than monthly, unless such termination is for a Disloyalty Termination Event, in which case the Executive shall be entitled only to payment of his Base Salary as then in effect through and including the date of termination.

  • Disloyalty by the Employee or failure to cooperate in any investigation by or on behalf of the Company.

Related to Disloyalty

  • Intentional for purposes of this Agreement, no act or failure to act on the part of the Executive shall be deemed to have been intentional if it was due primarily to an error in judgment or negligence. An act or failure to act on the Executive’s part shall be considered intentional if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interests of the Bank.

  • Moral turpitude means conduct that is wrong in itself even if no statute were to prohibit the conduct; and

  • Felony Conviction means a conviction within the preceding 24 months of a felony criminal violation under any Federal law and includes conviction of an offense defined in a section of the United States Code that specifically classifies the offense as a felony and conviction of an offense that is classified as a felony under 18 U.S.C. 3559.

  • Malfeasance means with respect to any Entity or person, any act or omission which constitutes fraud, bad faith, willful misconduct or gross negligence, whether in respect of the Council or otherwise.

  • Felony means that term as defined in section 1 of chapter I of the code of criminal procedure, 1927 PA 175, MCL 761.1.