Default Under FDIA. If any bank subsidiary of Bancshares is in default (as defined in Section 3[x][1] of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this subsection of this Agreement shall not affect the Employee’s vested rights if any.
Appears in 3 contracts
Samples: Employment Agreement (Bancshares of Florida Inc), Employment Agreement (Bancshares of Florida Inc), Employment Agreement (Bancshares of Florida Inc)
Default Under FDIA. If any bank subsidiary of Bancshares the Bank is in default (as defined in Section 3[x][1] of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this subsection of this Agreement shall not affect the Employee’s vested rights if any.
Appears in 3 contracts
Samples: Employment Agreement (Alarion Financial Services Inc), Employment Agreement (Alarion Financial Services Inc), Employment Agreement (Alarion Financial Services Inc)
Default Under FDIA. If any bank subsidiary of Bancshares the Bank is in default (as defined in Section 3[x][1] 3(x)(1) of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this subsection of this Agreement shall not affect the Employee’s vested rights if any.
Appears in 2 contracts
Samples: Employment Agreement (Federal Trust Corp), Employment Agreement (FPB Bancorp Inc)
Default Under FDIA. If any bank subsidiary of Bancshares the Bank is in default (as defined in Section 3[x][1] of the Federal Deposit Insurance Act), ) all obligations under this Agreement shall terminate as of the date of default, but this subsection of this Agreement shall not affect the Employee’s vested rights if any.
Appears in 2 contracts
Samples: Employment Agreement (First Community Bank Corp of America), Employment Agreement (First Community Bank Corp of America)
Default Under FDIA. If any bank subsidiary of Bancshares the Bank is in default ([as defined in Section 3[x][1] 3(x)(1) of the Federal Deposit Insurance Act)], all obligations under this Agreement shall terminate as of the date of default, but this subsection of this Agreement shall not affect the Employee’s vested rights if any.
Appears in 1 contract
Default Under FDIA. If any bank subsidiary of Bancshares the Bank is in default (as defined in Section 12 U.S.C. §1813 3[x][1] of the Federal Deposit Insurance Act), all obligations under this Agreement shall terminate as of the date of default, but this subsection of this Agreement shall not affect the EmployeeExecutive’s vested rights if any.
Appears in 1 contract
