Suspension/Temporary Prohibition. If the Employee is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under Section 655.037 Florida Statutes or under Section 8(e) or (g)(1) of the Federal Deposit Insurance Act [12 U.S.C. ss.1818(e)(3) and (g)(1)] the Bank's obligations under this Agreement shall be suspended as of the date of such service unless stayed by appropriate proceedings. If the charges and the notice are dismissed, the Bank may in its discretion: (i) pay the Employee all or part of his compensation withheld while the obligations under this Agreement are suspended; and (ii) reinstate (in whole or part) any of the Bank's obligations which were suspended.
Appears in 4 contracts
Samples: Employment Agreement (PSB Bancgroup Inc), Employment Agreement (Madison Bancshares Inc), Employment Agreement (Madison Bancshares Inc)
Suspension/Temporary Prohibition. If the Employee is suspended and/or temporarily prohibited from participating in the conduct of the Bank's Employer’s affairs by a notice served under Section 655.037 655.037, Florida Statutes Statutes, or under Section 8(e) or (g)(1) of the Federal Deposit Insurance Act [(12 U.S.C. ss.1818(e)(3) § 1818[e][3] and (g)(1)] [g][1], the Bank's Employer’s obligations under this Employment Agreement shall be suspended as of the date of such service unless stayed by appropriate proceedings. If the charges and the notice are dismissed, the Bank may Employer may, in its discretion:
(i1) pay the Employee all or part of his [his/her] compensation withheld while the obligations under this Employment Agreement are were suspended; and
(ii2) reinstate (in whole or in part) any of the Bank's Employer’s obligations which were suspended.
Appears in 2 contracts
Samples: Employment Agreement (Florida Business Bancgroup Inc), Employment Agreement (Florida Business Bancgroup Inc)
Suspension/Temporary Prohibition. If the Employee is suspended and/or temporarily prohibited from participating in the conduct of the Bank's Employer’s affairs by a notice served under Section 655.037 655.037, Florida Statutes Statutes, or under Section 8(e) or (g)(1) of the Federal Deposit Insurance Act [(12 U.S.C. ss.1818(e)(3) § 1818[e][3] and (g)(1)] [g][1], the Bank's Employer’s obligations under this Employment Agreement shall be suspended as of the date of such service unless stayed by appropriate proceedings. If the charges and the notice are dismissed, the Bank may Employer may, in its discretion:
(i1) pay the Employee all or part of his compensation withheld while the obligations under this Employment Agreement are were suspended; and
(ii2) reinstate (in whole or in part) any of the Bank's Employer’s obligations which were suspended.
Appears in 1 contract
Samples: Employment Agreement (Florida Business Bancgroup Inc)
Suspension/Temporary Prohibition. If the Employee is suspended and/or temporarily prohibited from participating in the conduct of the Bank's ’s affairs by a notice served under Section 655.037 Florida Statutes or under Section 8(e) or (g)(1) of the Federal Deposit Insurance Act [12 U.S.C. ss.1818(e)(3§1818(e)(3) and (g)(1)] the Bank's ’s obligations under this Agreement shall be suspended as of the date of such service unless stayed by appropriate proceedings. If the charges and the notice are dismissed, the Bank may in its discretion:
(i) pay the Employee all or part of his compensation withheld while the obligations under this Agreement are suspended; and
(ii) reinstate (in whole or part) any of the Bank's ’s obligations which were suspended.
Appears in 1 contract
Suspension/Temporary Prohibition. If the Employee is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under Section 655.037 Florida Statutes or under Section 8(e) or (g)(1) of the Federal Deposit Insurance Act [12 U.S.C. ss.1818(e)(3) and (g)(1)] the Bank's obligations under this Agreement shall be suspended as of the date of such service unless stayed by appropriate proceedings. If the charges and the notice are dismissed, the Bank may in its discretion:
(i) pay the Employee all or part of his her compensation withheld while the obligations under this Agreement are suspended; and
(ii) reinstate (in whole or part) any of the Bank's obligations which were suspended.
Appears in 1 contract
Suspension/Temporary Prohibition. If the Employee is suspended and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under Section section 655.037 Florida Statutes or under Section section 8(e) or (g)(1) of the Federal Deposit Insurance Act [12 U.S.C. ss.1818(e)(3(S)1818(e)(3) and (g)(1)] the Bank's obligations under this Agreement shall be suspended as of the date of such service unless stayed by appropriate proceedings. If the charges and the notice are dismissed, the Bank may in its discretion:
(i) pay the Employee all or part of his compensation withheld while the obligations under this Agreement are suspended; and
(ii) reinstate (in whole or part) any of the Bank's obligations which were suspended.
Appears in 1 contract