Common use of Special Regulatory Events Clause in Contracts

Special Regulatory Events. Notwithstanding any other provision of this Agreement, the obligations of the Parties will be as follows in the event of any of the following circumstances: i. If Executive is suspended and/or temporarily prohibited from participating in the conduct of the bank’s affairs by a notice serviced under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C. 1818 the Bank’s obligations under this Agreement will be suspended as of the date of services of such notice unless otherwise ordered by a tribunal of competent jurisdiction, but this provision will not affect any vested rights of the Executive. If the charges in the notice are dismissed, the Bank may, in its soles discretion, pay Executive all or part of the compensation withheld while the obligations of this Agreement were suspended and reinstated in whole or in part any of the obligations which were suspended. ii. If Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C.1818 (e) or Ohio Revised Code1121.33 and 1121.24, all obligations of the Bank under this Agreement will terminate as of the effective date of this order, but this provision will not affect any vested rights of the Executive. iii. If the Bank is in default, as defined in Section 3(x)(1) of the Federal Deposit Insurance Act, 12 U.S.C. 1813(x)(1), or declared insolvent by the Ohio Superintendent of Bank pursuant to Ohio Revised Code 12235.09, all obligations under this Agreement will terminate as of the date of default or insolvency, but this provision will not affect any vested rights of the Executive. iv. All obligations under the Agreement may be terminated by the FDIC at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 12(c) of the Federal Deposit Insurance Act, 12 U.S.C.1823(c), but this provision will not affect any vested rights of the Executive. v. The parties acknowledge and agree that, in the event either or both of DCBF and/or DCB&T are, or remain subject to the restrictions on payment of “golden parachute” and related payments as provided by Part 359 of the FDIC regulations (12 CFR Part 359), prior to making any such payment DCBF and/or DCB&T will provide such notices and shall seek any and all such prior regulatory consents and approvals as may be necessary and appropriate in those circumstances. These parties also acknowledge that, in that event, the proposed payments may or may not be approved by regulatory authorities, in whole or in part.

Special Regulatory Events. Notwithstanding any other provision of this Agreement, the obligations of the Parties will be as follows in the event of any of the following circumstances: i. If Executive is suspended and/or temporarily prohibited from participating in the conduct of the bank’s Bank's affairs by a notice serviced served under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C. 1818 Section 1818, the Bank’s 's obligations under this Agreement will be suspended as of the date of services service of such notice unless otherwise ordered by a tribunal of competent jurisdiction, but this provision will not affect any vested rights of the Executive. If the charges in the notice are dismissed, the Bank may, in its soles sole discretion, pay Executive all or part of the compensation withheld while the obligations of this Agreement were suspended and reinstated reinstate in whole or in part any of the obligations which were suspended. ii. If Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s 's affairs by an order issued under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C.1818 (eU.S.C. Section 1818(e) or Ohio Revised Code1121.33 Code Sections 1121.33 and 1121.241121.34, all obligations of the Bank under this Agreement will terminate as of the effective date of this the order, but this provision will not affect any vested rights of the Executive. iii. If the Bank is in default, as defined in Section 3(x)(1) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1813(x)(1), or declared insolvent by the Ohio Superintendent of Bank Banks pursuant to Ohio Revised Code 12235.09Section 1125.09, all obligations under this Agreement will terminate as of the date of default or insolvency, but this provision will not affect any vested rights of the ExecutiveParties. iv. All obligations under the this Agreement may be terminated by the FDIC at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 12(c13(c) of the Federal Deposit Insurance Act, 12 U.S.C.1823(cU.S.C. Section 1823(c), but this provision will not affect any vested rights of the Executive. v. The parties acknowledge and agree that, in the event either or both of DCBF and/or DCB&T are, or remain subject to the restrictions on payment of “golden parachute” and related payments as provided by Part 359 of the FDIC regulations (12 CFR Part 359), prior to making any such payment DCBF and/or DCB&T will provide such notices and shall seek any and all such prior regulatory consents and approvals as may be necessary and appropriate in those circumstances. These parties also acknowledge that, in that event, the proposed payments may or may not be approved by regulatory authorities, in whole or in part.

Special Regulatory Events. Notwithstanding any other provision Section 9(a) of this Agreement, the obligations obligation of the Parties will Bank and of the Employee shall be as follows in the event of any of the following circumstances: i. If Executive the Employee is suspended and/or temporarily prohibited from participating in the conduct of the bank’s Bank's affairs by a notice serviced served under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C. 1818 Section 1818, the Bank’s 's obligations under this Agreement will agreement shall be suspended as of the date of services service of such notice notice, unless otherwise ordered stayed by a tribunal of competent jurisdiction, but this provision will not affect any vested rights of the Executiveappropriate proceedings. If the charges in the notice are dismissed, the Bank may, in its soles sole discretion, pay Executive the Employee all or part of the compensation withheld while the obligations of this Agreement were suspended and reinstated reinstate in whole or in part any of the obligations which were suspended. ii. If Executive the Employee is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s 's affairs by an order issued under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C.1818 (eU.S.C. Section 1818(e) or Section 1127.06 of the Ohio Revised Code1121.33 and 1121.24Code, 11 O.R.C. Section 1127.06, all obligations of the Bank under this Agreement will terminate shall terminate, as of the effective date of this the order, but this provision will not affect any vested rights of the Executivecontracting parties shall not be affected. iii. If the Bank is in default, as defined in Section 3(x)(1) of the Federal Deposit Insurance ActAct 12 U.S.C., 12 U.S.C. 1813(x)(1Section 1813(x)(l), or declared insolvent by the Ohio Superintendent of Bank pursuant to Banks (Section 1103.04 of the Ohio Revised Code 12235.09, Code) all obligations under this Agreement will shall terminate as of the date of default or insolvency, but this provision will shall not affect any vested rights of the Executiveparties. iv. All obligations under the this Agreement may be terminated by the FDIC at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 12(c13(C) of the Federal Deposit Insurance Act, 12 U.S.C.1823(cU.S.C. Section 1823(C), but this provision will not affect any vested . Any rights of the Executive. v. The parties acknowledge and agree thatthat have already vested, in the event either or both of DCBF and/or DCB&T arehowever, or remain subject to the restrictions on payment of “golden parachute” and related payments as provided by Part 359 of the FDIC regulations (12 CFR Part 359), prior to making any such payment DCBF and/or DCB&T will provide such notices and shall seek any and all such prior regulatory consents and approvals as may be necessary and appropriate in those circumstances. These parties also acknowledge that, in that event, the proposed payments may or may not be approved affected by regulatory authorities, in whole or in partsuch action.

Special Regulatory Events. Notwithstanding any other provision of this Agreement, the obligations of the Parties will be as follows in the event of any of the following circumstances: i. If Executive is suspended and/or temporarily prohibited from participating in the conduct of the bankBank’s affairs by a notice serviced served under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C. 1818 § 1818, the Bank’s obligations under this Agreement will be suspended as of the date of services service of such notice unless otherwise ordered by a tribunal of competent jurisdiction, but this provision will not affect any vested rights of the Executive. If the charges in the notice are dismissed, the Bank may, in its soles sole discretion, pay Executive all or part of the compensation withheld while the obligations of this Agreement were suspended and reinstated reinstate in whole or in part any of the obligations which were suspended. ii. If Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C.1818 (eU.S.C. §1818(e) or Ohio Revised Code1121.33 Code §§1121.33 and 1121.241121.34, all obligations of the Bank under this Agreement will terminate as of the effective date of this the order, but this provision will not affect any vested rights of the Executive. iii. If the Bank is in default, as defined in Section 3(x)(1) of the Federal Deposit Insurance Act, 12 U.S.C. §1813(x)(1), or declared insolvent by the Ohio Superintendent of Bank Banks pursuant to Ohio Revised Code 12235.09§ 1125.09, all obligations under this Agreement will terminate as of the date of default or insolvency, but this provision will not affect any vested rights of the Executive. iv. All obligations under the this Agreement may be terminated by the FDIC at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 12(c13(c) of the Federal Deposit Insurance Act, 12 U.S.C.1823(cU.S.C. §1823(c), but this provision will not affect any vested rights of the Executive. v. The parties acknowledge and agree that, in the event either or both of DCBF and/or DCB&T are, or remain remain, subject to the restrictions on payment of “golden parachute” and related payments as provided by Part 359 of the FDIC regulations (12 CFR Part 359), prior to making any such payment DCBF and/or DCB&T will provide such notices and shall seek any and all such prior regulatory consents and approvals as may be necessary and appropriate in those circumstances. These The parties also acknowledge that, in that event, the proposed payments may or may not be approved by regulatory authorities, in whole or in part.

Special Regulatory Events. Notwithstanding any other provision Section 9(a) of this Agreement, the obligations obligation of the Parties will Bank and of the Employee shall be as follows in the event of any of the following circumstances: i. If Executive the Employee is suspended and/or temporarily prohibited from participating in the conduct of the bank’s Bank's affairs by a notice serviced served under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C. 1818 Section 1818, the Bank’s 's obligations under this Agreement will agreement shall be suspended as of the date of services service of such notice notice, unless otherwise ordered stayed by a tribunal of competent jurisdiction, but this provision will not affect any vested rights of the Executiveappropriate proceedings. If the charges in the notice are dismissed, the Bank may, in its soles sole discretion, pay Executive the Employee all or part of the compensation withheld while the obligations of this Agreement were suspended and reinstated reinstate in whole or in part any of the obligations which were suspended. ii. If Executive the Employee is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s 's affairs by an order issued under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C.1818 (eU.S.C. Section 1818(e) or Section 1127.06 of the Ohio Revised Code1121.33 and 1121.24Code, 11 O.R.C. Section 1127.06, all obligations of the Bank under this Agreement will terminate shall terminate, as of the effective date of this the order, but this provision will not affect any vested rights of the Executivecontracting parties shall not be affected. iii. If the Bank is in default, as defined in Section 3(x)(1) of the Federal Deposit Insurance ActAct 12 U.S.C., 12 U.S.C. Section 1813(x)(1), or declared insolvent by the Ohio Superintendent of Bank pursuant to Banks (Section 1103.04 of the Ohio Revised Code 12235.09, Code) all obligations under this Agreement will shall terminate as of the date of default or insolvency, but this provision will shall not affect any vested rights of the Executiveparties. iv. All obligations under the this Agreement may be terminated by the FDIC at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 12(c13(C) of the Federal Deposit Insurance Act, 12 U.S.C.1823(cU.S.C. Section 1823(C), but this provision will not affect any vested . Any rights of the Executive. v. The parties acknowledge and agree thatthat have already vested, in the event either or both of DCBF and/or DCB&T arehowever, or remain subject to the restrictions on payment of “golden parachute” and related payments as provided by Part 359 of the FDIC regulations (12 CFR Part 359), prior to making any such payment DCBF and/or DCB&T will provide such notices and shall seek any and all such prior regulatory consents and approvals as may be necessary and appropriate in those circumstances. These parties also acknowledge that, in that event, the proposed payments may or may not be approved affected by regulatory authorities, in whole or in partsuch action.

Special Regulatory Events. Notwithstanding any other provision Section 9(a) of this Agreement, the obligations obligation of the Parties will Bank and of the Employee shall be as follows in the event of any of the following circumstances: i. i) If Executive the Employee is suspended and/or temporarily prohibited from participating in the conduct of the bank’s Bank's affairs by a notice serviced served under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C. 1818 Section 1818, the Bank’s 's obligations under this Agreement will agreement shall be suspended as of the date of services service of such notice notice, unless otherwise ordered stayed by a tribunal of competent jurisdiction, but this provision will not affect any vested rights of the Executiveappropriate proceedings. If the charges in the notice are dismissed, the Bank Ban may, in its soles sole discretion, pay Executive the Employee all or part of the compensation withheld while the obligations of this Agreement were suspended and reinstated reinstate in whole or in part any of the obligations which were suspended. ii. ) If Executive the Employee is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s 's affairs by an order issued under Section 8 of the Federal Deposit Insurance Act, 12 U.S.C.1818 (eU.S.C. Section 1818(e) or Section 1127.06 of the Ohio Revised Code1121.33 and 1121.24Code, 11 O.R.C. Section 1127.06, all obligations of the Bank under this Agreement will terminate shall terminate, as of the effective date of this the order, but this provision will not affect any vested rights of the Executivecontracting parties shall not be affected. iii. ) If the Bank is in default, as defined in Section 3(x)(1) of the Federal Deposit Insurance ActAct 12 U.S.C., 12 U.S.C. 1813(x)(1Section 181(x)(1), or declared insolvent by the Ohio Superintendent of Bank pursuant to Banks (Section 1103.04 of the Ohio Revised Code 12235.09, Code) all obligations under this Agreement will shall terminate as of the date of default or insolvency, but this provision will shall not affect any vested rights of the Executiveparties. iv. ) All obligations under the this Agreement may be terminated by the FDIC at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 12(c13(C) of the Federal Deposit Insurance Act, 12 U.S.C.1823(cU.S.C. Section 1823(c), but this provision will not affect any vested . Any rights of the Executive. v. The parties acknowledge and agree thatthat have already vested, in the event either or both of DCBF and/or DCB&T arehowever, or remain subject to the restrictions on payment of “golden parachute” and related payments as provided by Part 359 of the FDIC regulations (12 CFR Part 359), prior to making any such payment DCBF and/or DCB&T will provide such notices and shall seek any and all such prior regulatory consents and approvals as may be necessary and appropriate in those circumstances. These parties also acknowledge that, in that event, the proposed payments may or may not be approved affected by regulatory authorities, in whole or in partsuch action.