Separation For Cause definition
Separation For Cause means the separation of Executive’s employment hereunder that is effected by the Corporation as a result of: (i) Executive’s indictment (or other criminal charge against Executive) for a felony, or Executive’s commission of fraud against the Corporation or any Group Company, (ii) misconduct by Executive that brings the Corporation or any Group Company or Affiliate of the Corporation into substantial public disgrace or disrepute, (iii) Executive’s gross negligence or gross misconduct with respect to the Corporation, any Group Company or any other subsidiary or affiliate of the Corporation, (iv) Executive’s insubordination to, or material failure to follow, the lawful directions of the Board or the Board Reserved Matters (as defined in the Stockholders’ Agreement), which, if curable, is not cured within ten (10) days after written notice thereof to Executive, (v) Executive’s material violation of paragraph 7 or 9 hereof, (vi) Executive’s material breach of any work rule or internal policy of the Corporation that is established in good faith which, if curable, is not cured within ten (10) days after written notice thereof to Executive, (vii) Executive violation of the FCPA or any state or federal anti-money laundering laws or (viii) any material breach by Executive of this Agreement (other than paragraphs 7 and 9) is not cured within thirty (30) days after written notice thereof to Executive. Notwithstanding the foregoing, no separation by the Corporation shall constitute a “Separation For Cause” unless (A) the Corporation provides Executive reasonable written notice of its intent to effect the separation of Executive by reason of a Separation For Cause, which such notice must include a statement that a majority of the Board has determined in good faith that an event described in clause (i), (ii), (iii), (iv), (v), (vi) or (vii) exists and (B) Executive is given reasonable opportunity during the thirty (30) day period after receiving the notice described in the preceding clause (A) to be heard by the Board with Executive’s legal counsel.
Separation For Cause means Executive ceasing to be an officer of the Company as a result of voluntary resignation of Executive (other than for Good Reason) or termination of Executive for Cause.
Separation For Cause means a Separation from Service for:
(a) Gross negligence or gross neglect of duties to the Bank;
(b) Conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the Employee’s employment with the Bank; or
(c) Fraud, disloyalty, dishonesty or willful violation of any law or significant Bank policy committed in connection with the Employee’s employment and resulting in a material adverse effect on the Bank.