Common use of Regulatory Suspension and Termination Clause in Contracts

Regulatory Suspension and Termination. (i) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s affairs by a notice served under Section 8(e)(3) (12 U.S.C. § 1818(e)(3)) or 8(g) (12 U.S.C. § 1818(g)) of the FDIA, the Employer’s obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may in its discretion (A) pay the Executive all or part of the compensation withheld while their contract obligations were suspended and (B) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 12 contracts

Samples: Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp)

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Regulatory Suspension and Termination. (i) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s 's affairs by a notice served under Section 8(e)(3) (12 U.S.C. § ss. 1818(e)(3)) or 8(g) (12 U.S.C. § ss. 1818(g)) of the FDIA, the Employer’s 's obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may in its discretion (A) pay the Executive all or part of the compensation withheld while their contract obligations were suspended and (B) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 8 contracts

Samples: Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp)

Regulatory Suspension and Termination. (i) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s affairs of Employer or the Bank by a notice served under Section 8(e)(3) (12 U.S.C. § Section 1818(e)(3)) or 8(g) (12 U.S.C. § Section 1818(g)) of the FDIA, the Employer’s 's obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may in its discretion discretion: (A) pay the Executive all or part of the compensation withheld while their contract obligations were suspended suspended; and (B) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 4 contracts

Samples: Employment Agreement (Landmark Merger Co), Employment Agreement (Landmark Merger Co), Employment Agreement (Landmark Merger Co)

Regulatory Suspension and Termination. (i) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s affairs of Employer by a notice served under Section 8(e)(3) (12 U.S.C. § 1818(e)(3)) or 8(g) (12 U.S.C. § 1818(g)) of the FDIA, the Employer’s obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may in its discretion discretion: (A) pay the Executive all or part of the compensation withheld while their contract obligations were suspended suspended; and (B) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 3 contracts

Samples: Employment Agreement (First Community Financial Partners, Inc.), Employment Agreement (First Community Financial Partners, Inc.), Employment Agreement (First Community Financial Partners, Inc.)

Regulatory Suspension and Termination. (i) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s 's affairs by a notice served under Section 8(e)(3) (12 U.S.C. § Section 1818(e)(3)) or 8(g) (12 U.S.C. § Section 1818(g)) of the FDIA, the Employer’s 's obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may in its discretion (A) pay the Executive all or part of the compensation withheld while their contract obligations were suspended and (B) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 3 contracts

Samples: Employment Agreement (Centrue Financial Corp), Employment Agreement (Kankakee Bancorp Inc), Employment Agreement (St Joseph Capital Corp)

Regulatory Suspension and Termination. (i) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s 's affairs by a notice served under Section 8(e)(3) (12 U.S.C. § Section 1818(e)(3)) or 8(g) (12 U.S.C. § Section 1818(g)) of the FDIAFederal Deposit Insurance Act, as amended, the Employer’s 's obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may in its discretion (A) pay the Executive all or part of the compensation withheld while their contract obligations were suspended and (B) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 2 contracts

Samples: Employment Agreement (Merchants Bancorp Inc/De/), John Rosenthal Employment Agreement (St Joseph Capital Corp)

Regulatory Suspension and Termination. (i) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s affairs by a notice served under Section 8(e)(3) (12 U.S.C. § 1818(e)(3)) or 8(g) (12 U.S.C. § 1818(g)) of the FDIA, the Employer’s obligations under this contract Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may in its discretion (A) pay the Executive all or part of the compensation withheld while their contract obligations were suspended and (B) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 2 contracts

Samples: Employment Agreement (First Federal Bancshares Inc /De), Employment Agreement (First Federal Bancshares Inc /De)

Regulatory Suspension and Termination. (ia) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s Company's affairs by a notice served under Section 8(e)(3) (12 U.S.C. § Section 1818(e)(3)) or 8(g) (12 U.S.C. § Section 1818(g)) of the FDIAFederal Deposit Insurance Act, as amended, the Employer’s Company's obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer Company may in its discretion (Ai) pay the Executive all or part of the compensation amounts withheld while their the contract obligations were suspended and (Bii) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 1 contract

Samples: Change of Control Agreement (Kankakee Bancorp Inc)

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Regulatory Suspension and Termination. (i) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s 's affairs by a notice served under Section 8(e)(3) (12 U.S.C. § (S) 1818(e)(3)) or 8(g) (12 U.S.C. § (S) 1818(g)) of the FDIA, the Employer’s 's obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may in its discretion (A) pay the Executive all or part of the compensation withheld while their contract obligations were suspended and (B) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 1 contract

Samples: Lindstrom Employment Agreement (Kankakee Bancorp Inc)

Regulatory Suspension and Termination. (i) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s affairs of Employer or the Bank by a notice served under Section 8(e)(3) (12 U.S.C. § 1818(e)(3)) or 8(g) (12 U.S.C. § 1818(g)) of the FDIA, the Employer’s obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may in its discretion discretion: (A) pay the Executive all or part of the compensation withheld while their contract obligations were suspended suspended; and (B) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 1 contract

Samples: Employment Agreement (Landmark Bancorp Inc)

Regulatory Suspension and Termination. (ia) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s Company's affairs by a notice served under Section 8(e)(3) (12 U.S.C. § (S) 1818(e)(3)) or 8(g) (12 U.S.C. § (S) 1818(g)) of the FDIAFederal Deposit Insurance Act, as amended, the Employer’s Company's obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer Company may in its discretion (Ai) pay the Executive all or part of the compensation amounts withheld while their the contract obligations were suspended and (Bii) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 1 contract

Samples: Change of Control Agreement (Kankakee Bancorp Inc)

Regulatory Suspension and Termination. (i) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Employer’s 's affairs by a notice served under #231522-v2 Section 8(e)(3) (12 U.S.C. § ss. 1818(e)(3)) or 8(g) (12 U.S.C. § ss. 1818(g)) of the FDIA, the Employer’s 's obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may in its discretion (A) pay the Executive all or part of the compensation withheld while their contract obligations were suspended and (B) reinstate (in whole or in part) any of the obligations which were suspended.

Appears in 1 contract

Samples: Employment Agreement (Centrue Financial Corp)

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