Suspension and Special Regulatory Rules. (i) If the Employee is suspended and/or temporarily prohibited from participating in the conduct of the affairs of the Employer by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act ("FDI Act"), Employer's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings.
Appears in 2 contracts
Samples: Employment Agreement (Sussex Bancorp), Employment Agreement (Sussex Bancorp)
Suspension and Special Regulatory Rules. (i) If the Employee is suspended and/or temporarily prohibited from participating in the conduct of the affairs of the Employer by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act ("FDI Act"), Employer's Employer shall have the right to suspend all or a portion of its obligations under this Agreement shall be suspended as of the date of serviceservice of notice, unless stayed by appropriate proceedings.
Appears in 2 contracts
Samples: Employment Agreement (Sussex Bancorp), Employment Agreement (Sussex Bancorp)
Suspension and Special Regulatory Rules. (i) If the Employee is suspended and/or temporarily prohibited from participating in the conduct of the affairs of the Employer Company of the Bank by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act ("FDI Act"), Employer's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings.
Appears in 2 contracts
Samples: Employment Agreement (Sussex Bancorp), Employment Agreement (Sussex Bancorp)
Suspension and Special Regulatory Rules. (i) If the Employee is suspended and/or temporarily prohibited from participating in the conduct of the affairs of the Employer Bank by a notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act ("FDI Act"), Employerthe Bank's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If all charges in the notice are dismissed, Bank shall pay Employee all compensation withheld while Employer's contractual obligations were suspended.
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