Company: FFWM
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-036041
Chunk: 85

Company: First Foundation Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 85
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 with continued participation in our employee benefits plans. Cause/Good Reason Definitions. The employment agreements contain the following definitions with respect to determining whether/when a NEO is eligible for severance benefits. “Cause” generally means the occurrence of any of the following by the NEO: • any acts of gross negligence, willful misconduct or insubordination and which involve us or our affiliates, or acts of fraud; • violation of laws or government regulations which could subject us or our affiliates to disciplinary or enforcement action by a governmental agency, or which could adversely affect our or our affiliates’ reputation or goodwill; • acts which would constitute a felony or any misdemeanor involving moral turpitude, deceit, dishonesty or fraud; • failure to perform a substantial portion of the duties and responsibilities assigned or delegated to the NEO under the employment agreement; • breach of the material obligations under the employment agreement; • violation by the NEO of any conflict of interest policy, ethical conduct policy or employment policy or a breach of his or her fiduciary duties; • the issuance of an order or directive by any government agency which requires the NEO to disassociate himself or herself from us or an affiliates or which suspends his or her employment or requires him to terminate his or her employment; or • the issuance of an order under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act requiring the NEO to be removed or permanently prohibited from participating in the conduct of our business. “Good Reason” generally means the occurrence of any of the following actions taken by us with respect to the NEO and without his or her consent: • a material reduction in authority, duties or responsibilities unless such reduction is made (A) as part of an across-the-board cost-cutting measure that is applied equally and proportionately to all senior executives of the Company, (B) as a result of any acts or omissions of NEO which would entitle the Company to terminate NEO’s employment for cause or (C) by and at the election of the Company as a result of NEO’s disability; • a material reduction in base salary or base compensation, unless such reduction is made (A) as part of an across-the-board cost-cutting measure that is applied equally or proportionately to all senior executives, (B) as a result of any acts or omissions of NEO which would entitle the Company to terminate NEO’s employment for cause or (C) by and at the election of the Company as a result of NEO’s disability; • a relocation of the NEO’s