Common use of Termination or Suspension Under Federal Law Clause in Contracts

Termination or Suspension Under Federal Law. (a) If the Employee is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) or (g)(1)), all obligations of the Employer and the Holding Company under this Agreement shall terminate, as of the effective date of the order, but the vested rights of the parties shall not be affected. (b) If the Employer is in default (as defined in Section 3(x)(1) of FDIA), all obligations of the Employer under this Agreement shall terminate as of the date of default; however, this Paragraph shall not affect the vested rights of the parties. (c) If a notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) and (g)(1)) suspends and/or temporarily prohibits the Employee from participating in the conduct of the Employer’s affairs, the Employer’s obligations under this Agreement shall be suspended as of the date of such service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer shall reinstate (in whole or in part) any of its obligations which were suspended.

Termination or Suspension Under Federal Law. (a1) If the Employee Executive is removed and/or permanently prohibited from participating in the conduct of the EmployerCompany’s affairs by an order issued under Sections 8(e)(48(c )(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) or and (g)(1)), all obligations of the Employer and the Holding Company under this Agreement shall terminate, as of the effective date of the order, but the vested rights of the parties shall not be affected. (b2) If the Employer Company is in default (as defined in Section 3(x)(1) of FDIA), all obligations of the Employer under this Agreement shall terminate as of the date of default; however, this Paragraph shall not affect the vested rights of the parties. (c3) If a notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) and or (g)(1)) suspends and/or temporarily prohibits the Employee Executive from participating in the conduct of the EmployerCompany’s affairs, the EmployerCompany’s obligations under this Agreement shall be suspended as of the date of such service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer shall Company may in its discretion (i) pay the Executive all or part of the compensation withheld while is contract obligations were suspended, and (ii) reinstate (in whole or in partapart) any of its obligations which were suspended.

Termination or Suspension Under Federal Law. (a1) If the Employee Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s Company's affairs by an order issued under Sections 8(e)(48(c)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“"FDIA”") (12 U.S.C. 1818(e)(4) or and (g)(1)), all obligations of the Employer and the Holding Company under this Agreement shall terminate, as of the effective date of the order, but the vested rights of the parties shall not be affected. (b2) If the Employer Company is in default (as defined in Section 3(x)(1) of FDIA), all obligations of the Employer under this Agreement shall terminate as of the date of default; however, this Paragraph shall not affect the vested rights of the parties. (c3) If a notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) and or (g)(1)) suspends and/or temporarily prohibits the Employee Executive from participating in the conduct of the Employer’s Company's affairs, the Employer’s Company's obligations under this Agreement shall be suspended as of the date of such service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer shall Company may in its discretion (i) pay the Executive all or part of the compensation withheld while is contract obligations were suspended, and (ii) reinstate (in whole or in partapart) any of its obligations which were suspended.

Termination or Suspension Under Federal Law. (a) If the Employee is removed and/or permanently prohibited from participating in the conduct of the Employer’s Company's affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“"FDIA”") (12 U.S.C. 1818(e)(4) or (g)(1)), all obligations of the Employer and the Holding Company under this Agreement shall terminate, as of the effective date of the order, but the vested rights of the parties shall not be affected. (b) If the Employer Company is in default (as defined in Section 3(x)(1) of FDIA), all obligations of the Employer Company under this Agreement shall terminate as of the date of default; however, this Paragraph shall not affect the vested rights of the parties. (c) If a notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) and (g)(1)) suspends and/or temporarily prohibits the Employee from participating in the conduct of the Employer’s Company's affairs, the Employer’s Company's obligations under this Agreement shall be suspended as of the date of such service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer Company shall (i) pay the Employee all or part of the compensation withheld while its contract obligations were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended.

Termination or Suspension Under Federal Law. (a) If the Employee is removed and/or permanently prohibited from participating in the conduct of the EmployerCompany’s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) or (g)(1)), all obligations of the Employer and the Holding Company under this Agreement shall terminate, as of the effective date of the order, but the vested rights of the parties shall not be affected. (b) If the Employer Company is in default (as defined in Section 3(x)(1) of FDIA), all obligations of the Employer Company under this Agreement shall terminate as of the date of default; however, this Paragraph shall not affect the vested rights of the parties. (c) If a notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) and (g)(1)) suspends and/or temporarily prohibits the Employee from participating in the conduct of the EmployerCompany’s affairs, the EmployerCompany’s obligations under this Agreement shall be suspended as of the date of such service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer Company shall (i) pay the Employee all or part of the compensation withheld while its contract obligations were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended.

Termination or Suspension Under Federal Law. (a1) If the Employee Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s Company's affairs by an order issued under Sections 8(e)(48(c )(4) or 8(g)(1) of the Federal Deposit Insurance Act (“"FDIA”") (12 U.S.C. 1818(e)(4) or and (g)(1)), all obligations of the Employer and the Holding Company under this Agreement shall terminate, as of the effective date of the order, but the vested rights of the parties shall not be affected. (b2) If the Employer Company is in default (as defined in Section 3(x)(1) of FDIA), all obligations of the Employer under this Agreement shall terminate as of the date of default; however, this Paragraph shall not affect the vested rights of the parties. (c3) If a notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) and or (g)(1)) suspends and/or temporarily prohibits the Employee Executive from participating in the conduct of the Employer’s Company's affairs, the Employer’s Company's obligations under this Agreement shall be suspended as of the date of such service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer shall Company may in its discretion (i) pay the Executive all or part of the compensation withheld while is contract obligations were suspended, and (ii) reinstate (in whole or in partapart) any of its obligations which were suspended.