; and (3) after the end of the 10-year period beginning on the date the compensation was deferred, if sufficient funds remain in the deferment fund, pay the senior employee the amount of compensation deferred at the beginning of the 10-year period. (c) Use of deferment fund To pay fines If a covered bank holding company or subsidiary of a covered bank holding company is subject to a civil or criminal fine, the bank holding company or subsidiary shall first pay such fine out of amounts contained in the deferment fund of the bank holding company or subsidiary. (d) Cancellation of compensation that cannot be paid from deferment fund Each covered bank holding company and each subsidiary of a covered bank holding company shall have in place a policy that cancels any compensation deferred under subsection (b) that cannot be repaid as described under subsection (b)(3), due to the deferment fund lacking sufficient funds. (e) Treatment of deferred compensation of ex-Employees With respect to an individual that has compensation deferred pursuant to subsection (b), but is no longer employed by the applicable bank holding company or subsidiary, if the bank holding company or subsidiary is required to pay a fine from its deferment fund for misconduct that occurred after the individual was no longer employed by the bank holding company or subsidiary, the bank holding company or subsidiary shall segregate the individual’s deferred compensation from other amounts in the deferment fund and shall not use such segregated amounts for any purpose other than repaying the individual pursuant to subsection (b)(3) or for the payment of another fine for misconduct that occurred while the individual was still employed by the bank holding company or subsidiary. (f) Rulemaking The Board may issue such rules as the Board determines necessary to carry out this section. (g) Definitions In this section: (1) Compensation With respect to an employee, the term compensation means any financial remuneration, including salary, bonuses, incentives,