Other Required Provisions. 6.12.1 If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this Section 6.12.1 shall not affect the vested rights of the Bank and/or Executive, if any.
Appears in 2 contracts
Samples: Employment Agreement (Sis Bancorp Inc), Employment Agreement (Sis Bancorp Inc)
Other Required Provisions. 6.12.1 If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this Section 6.12.1 shall not affect the vested rights of the Bank and/or the Executive, if any.
Appears in 2 contracts
Samples: Employment Agreement (Long Island Bancorp Inc), Employment Agreement (Long Island Bancorp Inc)
Other Required Provisions. 6.12.1 If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this Section 6.12.1 shall not affect the vested rights of the Bank Corporation and/or the Executive, if any.
Appears in 2 contracts
Samples: Employment Agreement (Long Island Bancorp Inc), Employment Agreement (Long Island Bancorp Inc)
Other Required Provisions. 6.12.1 6.11.1 If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this Section 6.12.1 6.11.1 shall not affect the vested rights of the Bank Corporation and/or the Executive, if any.
Appears in 1 contract
Other Required Provisions. 6.12.1 6.11.1 If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this Section 6.12.1 6.11.1 shall not affect the vested rights of the Bank and/or the Executive, if any.
Appears in 1 contract
