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.
Appears in 3 contracts
Samples: Employment Agreement (Bancshares of Florida Inc), Employment Agreement (Bancshares of Florida Inc), Employment Agreement (Bancshares of Florida Inc)
Permanent Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct and affairs of any bank subsidiary the Bank as a result of Bancshares by an order Order issued under Sections Section 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’ 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.
Appears in 3 contracts
Samples: Employment Agreement (Alarion Financial Services Inc), Employment Agreement (Alarion Financial Services Inc), Employment Agreement (Alarion Financial Services Inc)
Permanent Prohibition. If the Employee is removed and/or permanently prohibited from participating in the conduct and affairs of any bank subsidiary of Bancshares the Bank 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’ 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.
Appears in 2 contracts
Samples: Employment Agreement (First Community Bank Corp of America), Employment Agreement (First Community Bank Corp of America)
