No Effect on Employment Rights. Nothing contained herein will confer upon the Executive the right to be retained in the service of the Bank nor limit the right of the Bank to discharge or otherwise deal with the Executive without regard to the existence of the Agreement.
No Effect on Employment Rights. Nothing contained herein will confer upon the Executive the right to be retained in the service of the Bank nor limit the right of the Bank to discharge or otherwise deal with the Executive, in accordance with the bylaws of the Bank, without regard to the existence of the Agreement. Pursuant to 12 C.F.R. ' 563.39(b), the following conditions shall apply to this Agreement:
(1) The Bank's Board of Directors may terminate the Executive at any time, but any termination by the Bank's Board of Directors other than termination for Cause shall not prejudice the Executive's vested right to compensation or other benefits under the contract. As provided in Subsection 5.2, the Executive shall have no right to receive additional compensation or other benefits, other than those provided for in Subsection 5.2, after termination for Cause.
(2) If the Executive is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(3) and (g)(1)) the Bank's obligations under the contract shall be suspended (except vested rights) as of the date of termination of service unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank may in its discretion (i) pay the Executive all or part of the compensation withheld while its contract obligations were suspended and (ii) reinstate (in whole or in part) any of its obligations which were suspended.
(3) If the Executive is terminated and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(4) or (g)(1)), all non-vested obligations of the Bank under the contract shall terminate as of the effective date of the order.
(4) If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act), all non-vested obligations under the contract shall terminate as of the date of default.
(5) All non-vested obligations under the contract shall be terminated, except to the extent determined that continuation of the contract is necessary for the continued operation of the Bank:
(i) by the Director of the Federal Deposit Insurance Corporation or his designee at the time the Federal Deposit Insurance Corporation enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in ' 13(c...
No Effect on Employment Rights. Nothing contained herein will confer upon the Director the right to be retained in the service of the Bank nor limit the right of the Bank to discharge or otherwise deal with the Director without regard to the existence of the Agreement.
No Effect on Employment Rights. This Agreement constitutes the entire agreement between the Employer and the Executive as to the subject matter hereof. No rights are granted to the Executive by virtue of this Agreement other than those specifically set forth herein. Nothing contained herein will confer upon the Executive the right to be retained in the service of the Employer nor limit the right of the Employer to discharge or otherwise deal with the Executive without regard to the existence hereof.
No Effect on Employment Rights. Nothing contained herein shall confer upon Executive the right to be retained in the service of the Association nor limit the right of the Association to discharge or otherwise deal with Executive without regard to the existence of this Agreement.
No Effect on Employment Rights. Nothing contained herein will confer upon ------------------------------ the Executive the right to be retained in the service of the Bank nor limit the right of the Bank to discharge or otherwise deal with the Executive without regard to the existence of the Agreement. Pursuant to 12 C.F.R. (S)563.39(b), the following conditions shall apply to this Agreement:
No Effect on Employment Rights. Nothing contained in this Agreement or any modification or amendment hereto, or the payment of any benefit, gives or shall be deemed to give Executive any right to continued employment, or any legal or equitable right against Employers or any employee of Employers. Moreover, nothing contained in this Agreement or any modification or amendment hereto, or the payment of any benefit shall modify, or otherwise have any effect on, Executive's employment relationship with Employers. This Agreement shall also not affect Executive's rights under any employee benefit plan offered by Employers, such as any pension or profit-sharing, medical, dental or hospitalization, life insurance, AD&D, bonus, incentive compensation, stock option, or vacation pay plan. Executive's rights under those plans are governed solely by their terms, and Executive should review those plans to ascertain his rights under them. In particular, Executive's receipt of a Change in Control Benefit under this Agreement does not change the date of his termination of employment for purposes under any such plans.
No Effect on Employment Rights. Nothing contained herein will confer upon Participant the right to be retained in the service of the Company nor limit the right of the Company to discharge or otherwise deal with Participant without regard to the existence of the Plan. All such employment rights and responsibilities have been made the subject of the Employment Agreement.
No Effect on Employment Rights. This Agreement is not an employment agreement. Nothing in this Agreement shall confer upon Executive any right to continue in the employ of the Company or interfere with or restrict in any way the rights of the Company, which are hereby expressly reserved, to terminate Executive's employment at any time prior to a Change in Control for any reason, with or without cause.
No Effect on Employment Rights. This Agreement is not an employment agreement and nothing in this Agreement will confer upon the Executive the right to be retained in the employ of the Company, or limit any right of the Company to discharge the Executive or otherwise deal with the Executive without regard to the existence of this Agreement.
