Permanent Suspension or Prohibition of Executive. If the Executive is removed and/or permanently prohibited from participating in the conduct of the affairs of the Company or any subsidiary of the Company by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. Section 1818(e)(4) and (g)(1), all obligations of the Company under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected.
Appears in 3 contracts
Samples: Executive Employment Agreement (ViewPoint Financial Group Inc.), Change in Control and Severance Benefits Agreement (ViewPoint Financial Group Inc.), Control and Severance Benefits Agreement (ViewPoint Financial Group Inc.)
Permanent Suspension or Prohibition of Executive. If the Executive is removed and/or permanently prohibited from participating in the conduct of the affairs of the Company or any subsidiary of the Company Bank by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. Section 1818(e)(4) and (g)(1), all obligations of the Company under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected.
Appears in 1 contract
Samples: Executive Employment Agreement (Oceanfirst Financial Corp)
