Ally Bank 2011 Annual Report Download - page 269
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1.8 “Cause” shall mean any one of the following:
(a) felony indictment or misdemeanor conviction; or
(b) failure to perform any material responsibility of the leadership position; or
(c) a course of conduct which would tend to hold the Company or any of its affiliates in disrepute or scandal, as determined by the
Board in its sole discretion; or
(d) failure to follow lawful directions of the Board; or
(e) any material breach of fiduciary duty to the Company; or
(f) gross negligence; or
(g) willful misconduct; or
(h) failure to comply with a material Company policy; or
(i) any act of fraud, theft, or dishonesty; or
(j) breach of any restrictive covenants, including the duty of confidentiality with respect to Company information.
(k) failure to promptly repay any Award payment that is determined to be owed to the Company pursuant to 8.6 below.
1.9 “Change in Control” shall mean both:
(a) a change in the ownership of the Company in accordance with Treasury Regulation Section 1.409A−3(i)(5)(v); or
(b) a change in effective control of the Company in accordance with Treasury Regulation Section 1.409A−3(i)(5)(vi); or