Termination by Regulators. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (1) 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 13(c) of the FDIA; or (2) by the FDIC, at the time it approves a supervisory merger to resolve problems related to operation of the Bank. Any rights of the parties that have already vested, however, shall not be affected by any such action.
Appears in 7 contracts
Samples: Employment Agreement (Timberland Bancorp Inc), Employment Agreement (Timberland Bancorp Inc), Employment Agreement (Timberland Bancorp Inc)
Termination by Regulators. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the BankCompany: (1i) at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank Company under the authority contained in Section 13(c) of the FDIA; or (2ii) by the FDICFDIC or the Federal Reserve, at the time it either agency approves a supervisory merger to resolve problems related to operation of the BankCompany. Any rights of the parties that have already vested, however, shall not be affected by any such action.
Appears in 7 contracts
Samples: Employment Agreement (Altabancorp), Employment Agreement (Altabancorp), Employment Agreement (People's Utah Bancorp)
Termination by Regulators. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (1i) 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 13(c) of the FDIA; or (2ii) by the FDICFDIC or the Federal Reserve, at the time it either agency approves a supervisory merger to resolve problems related to operation of the BankBank or the Company, respectively. Any rights of the parties that have already vested, however, shall not be affected by any such action.
Appears in 6 contracts
Samples: Employment Agreement (Banner Corp), Change in Control Severance Agreement (Anchor Bancorp), Employment Agreement (Anchor Bancorp)
Termination by Regulators. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (1) 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 13(c) of the FDIA; or (2) by the FDIC, at the time it approves a supervisory merger to resolve problems related to operation of the BankBank or when the Bank is determined by the Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by any such action.
Appears in 6 contracts
Samples: Change in Control Severance Agreement (First Financial Northwest, Inc.), Change in Control Severance Agreement (First Financial Northwest, Inc.), Involuntary Termination Agreement (First Financial Northwest, Inc.)
Termination by Regulators. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the BankCompany: (1) at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank Company under the authority contained in Section 13(c) of the FDIA; or (2) by the FDICapplicable federal banking agency, at the time it the agency approves a supervisory merger to resolve problems related to operation of the Bankdepository institution. Any rights of the parties that have already vested, however, shall not be affected by any such action.
Appears in 4 contracts
Samples: Executive Employment Agreement (Oceanfirst Financial Corp), Executive Employment Agreement (ViewPoint Financial Group Inc.), Change in Control and Severance Benefits Agreement (ViewPoint Financial Group Inc.)
Termination by Regulators. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the BankEmployer: (1i) at the time the FDIC enters into an agreement to provide assistance to or on behalf of the Bank Employer under the authority contained in Section 13(c) of the FDIA; or (2ii) by the FDICFDIC or the Federal Reserve, at the time it either agency approves a supervisory merger to resolve problems related to operation of the BankBank or the Employer, respectively. Any rights of the parties that have already vested, however, shall not be affected by any such action.
Appears in 2 contracts
Samples: Employment Agreement (Banner Corp), Employment Agreement (Banner Corp)
Termination by Regulators. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (1) 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 13(c) of the FDIA; or (2) by the FDICFDIC or the OTS, at the time it either agency approves a supervisory merger to resolve problems related to operation of the Bank. Any rights of the parties that have already vested, however, shall not be affected by any such action.
Appears in 2 contracts
Samples: Executive Employment Agreement (ViewPoint Financial Group Inc.), Executive Employment Agreement (ViewPoint Financial Group)
Termination by Regulators. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (1) at the time the FDIC Federal Deposit Insurance Corporation enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the FDIA; or (2) by the FDIC, at the time it approves a supervisory merger to resolve problems related to operation of the Bank. Any rights of the parties that have already vested, however, shall not be affected by any such action.
Appears in 2 contracts
Samples: Employment Agreement (Evertrust Financial Group Inc), Employment Agreement (Evertrust Financial Group Inc)
Termination by Regulators. All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (1) 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 13(c) of the FDIA; or (2) by the FDIC, at the time it the agency approves a supervisory merger to resolve problems related to operation of the BankBank or Company, respectively. Any rights of the parties that have already vested, however, shall not be affected by any such action.
Appears in 1 contract
Termination by Regulators. All obligations under this Agreement ------------------------- shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (1) by the Federal Deposit Insurance Corporation (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 13(c) of the FDIA; or (2) when the Bank is determined by the FDIC, at the time it approves a supervisory merger FDIC to resolve problems related to operation of the Bankbe in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by any such action.
Appears in 1 contract
