Temporary Suspension or Prohibition. If the Employee is suspended and/or temporarily prohibited from participating in the conduct of First Federal's affairs by a notice served under Section 8(e)(3) or (g)(1) of the FDIA, 12 U.S.C. Section 1818(e)(3) and (g)(1), or pursuant to Section 32.16.090 of the Revised Code of Washington (“R.C.W.”), First Federal's obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, First Federal may in its discretion (i) pay the Employee all or part of the compensation withheld while its obligations under this Agreement were suspended and (ii) reinstate in whole or in part any of its obligations which were suspended.
Appears in 3 contracts
Samples: Employment Agreement (First Northwest Bancorp), Employment Agreement (First Northwest Bancorp), Change in Control Severance Agreement (First Northwest Bancorp)
Temporary Suspension or Prohibition. If the Employee is suspended and/or temporarily prohibited from participating in the conduct of First Federal's ’s affairs by a notice served under Section 8(e)(3) or (g)(1) of the FDIA, 12 U.S.C. Section 1818(e)(3) and (g)(1), or pursuant to Section 32.16.090 of the Revised Code of Washington (“R.C.W.”), First Federal's ’s obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, First Federal may in its discretion (i) pay the Employee all or part of the compensation withheld while its obligations under this Agreement were suspended and (ii) reinstate in whole or in part any of its obligations which were suspended.
Appears in 3 contracts
Samples: Employment Agreement (First Northwest Bancorp), Employment Agreement (First Northwest Bancorp), Employment Agreement (First Northwest Bancorp)
