Permanent Suspension or Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of the Association's affairs by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. ss. 1818(e)(4) and (g)(1), all obligations of the Association 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 8 contracts
Samples: Employment Agreement (Ps Financial Inc), Employment Agreement (Peoples Sidney Financial Corp), Employment Agreement (Montgomery Financial Corp)
Permanent Suspension or Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of the Association's ’s affairs by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. ss. § 1818(e)(4) and (g)(1), all obligations of the Association 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 8 contracts
Samples: Employment Agreement (First Securityfed Financial Inc), Change in Control Severance Agreement (First Securityfed Financial Inc), Employment Agreement (First Securityfed Financial Inc)
Permanent Suspension or Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of the Association's affairs by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. ss. ' 1818(e)(4) and (g)(1), all obligations of the Association 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 5 contracts
Samples: Employment Agreement (First Securityfed Financial Inc), Change in Control Severance Agreement (First Securityfed Financial Inc), Change in Control Severance Agreement (First Securityfed Financial Inc)
Permanent Suspension or Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of the Association's affairs by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. ss. 1818(e)(4) and (g)(1), all obligations of the Association Holding 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 4 contracts
Samples: Change in Control Severance Agreement (Yonkers Financial Corp), Employment Agreement (Yonkers Financial Corp), Change in Control Severance Agreement (Yonkers Financial Corp)
Permanent Suspension or Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of the Association's affairs by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. ss. Section 1818(e)(4) and (g)(1), all obligations of the Association 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 2 contracts
Samples: Employment Agreement (Peoples Sidney Financial Corp), Employment Agreement (Peoples Sidney Financial Corp)
Permanent Suspension or Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of the Association's ’s affairs by an order issued under Section 8(e)(48(c)(4) or (g)(1) of the FDIA, 12 U.S.C. ss. § 1818(e)(4) and (g)(1), all obligations of the Association 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: Change in Control Severance Agreement (First Securityfed Financial Inc)
