Permanent Suspension or Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of First Federal's affairs by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. Section 1818(e)(4) and (g)(1), or pursuant to R.C.W. 32.16.090, all obligations of First Federal under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected.
Appears in 3 contracts
Samples: Employment Agreement (First Northwest Bancorp), Employment Agreement (First Northwest Bancorp), Change in Control Severance Agreement (First Northwest Bancorp)
Permanent Suspension or Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of First Federal's ’s affairs by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. Section 1818(e)(4) and (g)(1), or pursuant to R.C.W. 32.16.090, all obligations of First Federal under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected.
Appears in 3 contracts
Samples: Employment Agreement (First Northwest Bancorp), Employment Agreement (First Northwest Bancorp), Employment Agreement (First Northwest Bancorp)
