Temporary Suspension or Prohibition. If a Participant is suspended and/or temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (“FDIA”), 12 U.S.C. § 1818(e)(3) and (g)(1), no executive benefit shall be paid to that Participant. If the charges in the notice are dismissed, any executive benefit that would have been payable during the suspension or temporary prohibition shall be paid as soon as reasonably practicable, in accordance with the Plan.
Appears in 3 contracts
Samples: Employment Agreement (First Northern Community Bancorp), Employment Agreement (First Northern Community Bancorp), Employment Agreement (First Northern Community Bancorp)
Temporary Suspension or Prohibition. If a Participant is suspended and/or temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act (“FDIA”), 12 U.S.C. § 1818(e)(3) and (g)(1), no executive benefit Executive Benefit shall be paid to that Participant. If the charges in the notice are dismissed, any executive benefit Executive Benefit that would have been payable during the suspension or temporary prohibition shall be paid as soon as reasonably practicable, in accordance with the Plan.
Appears in 3 contracts
Samples: Employment Agreement (First Northern Community Bancorp), Employment Agreement (First Northern Community Bancorp), Employment Agreement (First Northern Community Bancorp)
