; and (3) after the end of the covered deferment period, if sufficient funds remain in the deferment fund, pay the senior employee the amount of compensation deferred and for which the covered deferment period ended. (c) Use of deferment fund (1) Use of fund to pay fines If a covered financial institution or subsidiary of a covered financial institution is subject to a civil or criminal fine, the covered financial institution or subsidiary shall first pay such fine out of amounts contained in the deferment fund of the covered financial institution or subsidiary. (2) Use of funds to make depositors whole If a covered financial institution is a depository institution or a credit union and the depository institution or credit union fails, the depository institution or credit union shall use amounts in the deferment fund of the depository institution or credit union to ensure depositors do not lose any of their deposits. All amounts in the deferment fund shall be used before any amounts are paid from the Deposit Insurance Fund or the National Credit Union Share Insurance Fund, as applicable, for such purpose. (d) Cancellation of compensation that cannot be paid from deferment fund Each covered financial institution or subsidiary 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 covered financial institution or subsidiary, if the covered financial institution 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 covered financial institution or subsidiary, the covered financial institution or subsidiary shall segregate the individual’s deferred compensation from other amounts in the deferment fund