Suspension per FDIA. If Executive is suspended and/or temporarily prohibited from participating in the conduct of the Employer’s affairs by a notice served pursuant to the Federal Deposit Insurance Act, the Employer’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, the Employer shall (i) pay on the first day of the first month following such dismissal of charges (or as provided elsewhere in this Agreement) the Executive all of the compensation withheld while the obligations under this Agreement were suspended; and (ii) reinstate any such obligations which were suspended.
Appears in 4 contracts
Samples: Employment Agreement (Hampton Roads Bankshares Inc), Employment Agreement (Hampton Roads Bankshares Inc), Employment Agreement (Hampton Roads Bankshares Inc)
