Regulatory Action. (a) If Employee is removed and/or permanently prohibited from participating in the conduct of Employer’s affairs by an order issued under Section 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of Employer under this Agreement shall terminate, as of the effective date of such order.
Appears in 4 contracts
Samples: Employment Agreement (Colony Bankcorp Inc), Employment Agreement (Colony Bankcorp Inc), Employment Agreement (Colony Bankcorp Inc)
Regulatory Action. (a) If Employee is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs by an order issued under Section 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Employer under this Agreement shall terminate, as of the effective date of such order.
Appears in 3 contracts
Samples: Change in Control Severance Agreement (Southern National Bancorp of Virginia Inc), Change in Control Severance Agreement (Southern National Bancorp of Virginia Inc), Change in Control Severance Agreement (Southern National Bancorp of Virginia Inc)
Regulatory Action. (a) If Employee Executive is removed and/or permanently prohibited from participating in the conduct of Employer’s affairs by an order issued under Section 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of Employer under this Agreement shall terminate, as of the effective date of such order.
Appears in 3 contracts
Samples: Employment Agreement (Colony Bankcorp Inc), Employment Agreement (First Bancshares Inc /MS/), Employment Agreement (Colony Bankcorp Inc)
Regulatory Action. (a) If Employee Executive is removed and/or permanently prohibited from participating in the conduct of Employer’s 's affairs by an order issued under Section 8(e)(4) or 8(g)(18(g)(l) of the Federal Deposit Insurance Act (“"FDIA”") (12 U.S.C. 1818(e)(4) and (g)(1g)(l)), all obligations of Employer under this Agreement shall terminate, as of the effective date of such order.
Appears in 1 contract
Regulatory Action. (a) If Employee Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs by an order issued under Section 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Employer under this Agreement shall terminate, as of the effective date of such order.
Appears in 1 contract
Samples: Employment Agreement (Southern National Bancorp of Virginia Inc)
