Removal for Cause definition

Removal for Cause means the removal of a Director by the Directors of the Invesco Funds or by shareholders due to such Director’s willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Director.

Removal for Cause or “Removed for Cause” shall mean termination of the Director’s service as a member of the Board of Directors of the Bank by reason of any of the following:

Removal for Cause means the removal of a Director upon an intentional failure to perform stated duties, personal dishonesty which results in loss to the Company or one of its Affiliates or willful violation of any law, rules or regulation (other than traffic violations or similar offenses) or final cease-and-desist order which results in substantial loss to the Company or one of its Affiliates.

Examples of Removal for Cause in a sentence

• If a Participant’s Service terminates on account of Removal for Cause, no Retirement Benefit shall be paid to him or on his behalf, even if such termination occurs after he has completed 5 Years of Service.

• Removal for "Cause" shall mean removal of a director because of such director's (a) willful and continued failure substantially to perform his duties with the Company in his established position, (b) willful conduct which is injurious to the Company or any of its Subsidiaries, monetarily or otherwise, (c) conviction for, or guilty plea to, a felony or a crime involving moral turpitude, or (d) abuse of illegal drugs or other controlled substances or habitual intoxication.

• The terms “Normal Retirement” and/or “Normal Retirement Date” shall refer to the date which the Director Separates from Service for any reason other than a Removal for Cause, and a date on or after which Director has attained the age of Sixty-Two (62) (the “Normal Retirement Age”).

• Upon the termination of a Participant's service as a Director for any reason other than Disability, Retirement, Change in Control, death or Removal for Cause, the Participant's Options shall be exercisable only as to those shares which were immediately purchasable by the Participant at the date of termination and only for a period of three months following termination.

• The term “Early Retirement” shall mean the Director’s Separation From Service on or after attaining the Early Retirement Age of sixty-five (65) but before attaining the Normal Retirement Age, and for any reason other than a Removal for Cause.

More Definitions of Removal for Cause

Removal for Cause means termination of the employment of the Director by reason of any of the following determined in good faith by the Bank's Board of Directors:

Removal for Cause means a removal of Participant as a member of the Board by Company’s stockholders pursuant to applicable corporate laws governing the removal of Directors.

Removal for Cause means removal from the position of regular director of the Company grounded on violation of the law or the Company’s bylaws or regulations.

Removal for Cause means termination of the service of the Insured by reason of any of the following determined in good faith by the Bank's Board of Directors:

Removal for Cause means termination of the Participant's service on the Board of Directors prior to his designation as a Director Emeritus, due to the Participant's personal dishonesty, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, regulation (other than traffic violations or infractions), or final cease-and-desist order, or gross negligence in matters of material importance to the Bank.

Removal for Cause means the removal of the Outside Director by shareholder, regulatory or other appropriate action because of a material loss to the Holding Company or one of its affiliates caused by the Outside Director's personal dishonesty, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, or the willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease and desist order.

Removal for Cause means removal of a Non-Employee Director from office "for cause" within the meaning of Section 141(k) of the Delaware General Corporation Law or other applicable Delaware law.