Service for Cause definition

Service for Cause means the Bank has terminated the Director's services for any of the following reasons, as determined by the Bank's Board of Directors:
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Examples of Service for Cause in a sentence

  • In the event of the Participant’s Termination of Service for Cause, all Options subject to this Agreement that have not been exercised will immediately expire and be forfeited.

  • If the event of the Participant’s Termination of Service for Cause, all Restricted Stock subject to this Agreement that has not vested will expire and be forfeited.

  • In the event of the Participant’s Termination of Service for Cause, any unvested shares of Restricted Stock subject to this Agreement will expire and be forfeited as of the date of the Termination of Service.

  • In the event of the Participant’s Termination of Service for Cause (as defined below), any unvested RSUs shall be forfeited as of the date of such termination without any payment to the Participant.

  • Notwithstanding any other provision of this Agreement, no exercise of SARs will be deemed to occur upon Termination of Service for Cause.

  • If the Participant has a Termination of Service for Cause, the Option (whether vested or unvested) shall immediately terminate and cease to be exercisable.

  • If the Participant has a Termination of Service for Cause, the Participant may exercise the vested portion of the Option, but only within such period of time ending on the earlier of: (a) the date 12 months following the Participant’s Termination of Service or (b) the Expiration Date.

  • Upon termination by the Company or an Affiliate or a successor company (or a subsidiary or parent thereof) of the Grantee’s Service for Cause, unless the Option has earlier terminated, the Option shall immediately terminate in its entirety and shall thereafter not be exercisable to any extent whatsoever.

  • Executive shall have no right to receive compensation or other benefits for any period after Separation from Service for Cause.

  • In the event of the Participant’s Termination of Service for Cause, all Options that have not been exercised will expire and be forfeited.