Permanent Suspension or Prohibition. If the Executive is removed from office or permanently prohibited from participating in the conduct of the affairs of any banking subsidiary of GLB by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. § 1818(e)(4) and (g)(1), all obligations of the Employers under this Agreement will terminate as of the effective date of the order, but vested rights of the Parties will not be affected.
Appears in 4 contracts
Samples: Employment Agreement (Great Lakes Bancorp, Inc.), Employment Agreement (Great Lakes Bancorp, Inc.), Employment Agreement (Great Lakes Bancorp, Inc.)
