Permanent Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Section 655.037 Florida Statutes or Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act [12 U.S.C. ss.1818(e)(4) or (g)(1)], all of the Bank's obligations under this Agreement shall terminate as of the effective date of the order, but the Employee's vested rights, if any shall not be affected.
Permanent Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct and affairs of any bank subsidiary of Bancshares by an order issued under Sections 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. §1818[e][4] or [g][1]), all of Bancshares’ obligations under this Agreement shall terminate as of the effective date of the order, but the Employee’s vested rights, if any shall not be affected.
Permanent Prohibition. If the Employee is removed from office and/or permanently prohibited from participating in the conduct of PSB and the Bank's affairs by an order issued by the DOBF or by an order issued under Section 8(e)(4) or Section 8(g)(1) of the FDIA (12 U.S.C. Sections 1818[e](4] and [g][1]), all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the Employee and the Bank as of the date of termination shall not be affected.
Permanent Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. (S)1818[e][4] or [g][1]), all of the Bank's obligations under this Agreement shall terminate as of the effective date of the order, but the Employee's vested rights, if any shall not be affected.
Permanent Prohibition. If Employee is removed and/or permanently prohibited from participating in the conduct of Employer’s affairs by an order issued under Section 655.037, Florida Statutes, or Section 8(e) or (g) (1) of the Federal Deposit Insurance Act (12 U.S.C. § 1818[e][4] or [g][1]), all of Employer’s obligations under this Employment Agreement shall terminate as of the effective date of the order, but Employee’s vested rights, if any, under the 2000 Key Employee Stock Option Plan and the Bay Cities Bank 401K Plan shall not be affected.
Permanent Prohibition. If you are removed and/or permanently prohibited from participating in the conduct of our affairs by an order issued under section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act [12 U.S.C. ss.1818(e)(4) or (g)(1)], all of our obligations under this Agreement shall terminate as of the effective date of the order, but your vested rights, if any shall not be affected.
Permanent Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct and affairs of ProBank by an order issued under Sections 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act (12 U.S.C. §1818[e][4] or [g][1]), all of Employer’s obligations under this Agreement shall terminate as of the effective date of the order, but the Employee’s vested rights, if any shall not be affected.
Permanent Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct of the Bank's affairs by an order issued under Section
Permanent Prohibition. If the Employee is removed from office and/or permanently prohibited from participating in the conduct of Bancorp and the Bank's affairs by an order issued by the DOBF or by an order issued under Section 8(e)(4) or Section 8(g)(1) of the FDIA (12 U.S.C. Sections 1818[e](4] and [g][1]), all obligations of Bancorp and the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the Employee as of the date of termination shall not be affected.
Permanent Prohibition. If Employee is removed and/or permanently prohibited from participating in the conduct of Employer’s affairs by an order issued under Section 655.037, Florida Statutes, or Section 8(e) or (g) (1) of the Federal Deposit Insurance Act (12 U.S.C. § 1818[e][4] or [g][1]), all of Employer’s obligations under this Employment Agreement shall terminate as of the effective date of the order, but Employee’s vested rights, if any, shall not be affected.
