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 First Federal: (i) at the time the FDIC enters into an agreement to provide assistance to or on behalf of First Federal under the authority contained in Section 13(c) of the FDIA; or (ii) by the FDIC or the Federal Reserve, at the time either agency approves a supervisory merger to resolve problems related to operation of First Federal 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 (First Northwest Bancorp), Employment Agreement (First Northwest Bancorp), Change in Control Severance Agreement (First Northwest Bancorp)
