Recognition and Retention Plan Sample Clauses

Recognition and Retention Plan. (a) Not later than 120 days after the end of each Fiscal Year, the Partnership shall distribute the Incentive Bonus to those employees of the Partnership, former employees and former general partners (or any combination thereof) ("Distributees") as determined by the Managing Partner pursuant to the Recognition and Retention Plan. The aggregate distributions to the Distributees shall equal not less than 85% of the Incentive Bonus. That portion of the Incentive Bonus that is not distributed to the Distributees shall revert to the Partnership. If the Partnership does not have sufficient cash to pay the Incentive Bonus for a Fiscal Year, then the amount unpaid shall accrue and shall be paid in the next succeeding year.
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Recognition and Retention Plan. The existing RRP awards listed in Section 3.28(a) of the CFKY Disclosure Schedule will become earned and nonforfeitable upon the execution of this Agreement. No other awards shall be made under the RRP after the date of this Agreement. Prior to the Effective Time, CFKY shall terminate the RRP and shall direct the RRP committee and/or the trustee, if appropriate, to return any unawarded or forfeited CFKY Shares to CFKY and the committee and/or the trustee shall promptly effect such directive.
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Recognition and Retention Plan. The Employee shall be entitled to participate in and receive grants under the Statewide Financial Corp. Recognition and Retention Plan for Executive Officers and Employees (the "RRP"). Employee shall receive a grant of 23,012 shares of Restricted Stock (as that term is defined in the RRP). Such grant shall be subject to all of the terms and conditions, including vesting, contained in the RRP, and Employee shall be bound by all of the terms of the RRP with regard to the grant of such shares. This grant of shares may be increased from time to time in the sole discretion of Statewide Financial Corp.
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Recognition and Retention Plan. Shares of UCBC Common Stock held in the Union Federal Recognition and Retention Plan (the “RRP”) which vest at the Effective Time shall be converted into the Merger Consideration to the extent provided in Article III and pursuant to Election Forms properly completed by or on behalf of the recipients of awards of such shares.
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Recognition and Retention Plan. At the Effective Time, Lincoln Savings Bank will assume the Citizens Savings Bank Recognition and Retention Plan and Trust (the "RRP Plan"). Prior to the Effective Time, Citizens Savings Bank will take the necessary steps to (i) cause any shares of Citizens Common Stock held in the Plan Share Reserve of the RRP Plan to be returned to Citizens and canceled and (ii) amend the RRP Plan, effective as of the Effective Time, (A) to define "Bank" to refer to Lincoln Savings Bank instead of to Citizens Savings Bank, (B) to define "Holding Company" to refer to Lincoln instead of to Citizens, (C) to define "Committee" to refer to the Compensation Committee of the Lincoln Board instead of to the Stock Compensation Committee of the Citizens Board, (D) to define "Common Stock" to refer to Lincoln Common Stock instead of to Citizens Common Stock, (E) to delete Sections 3.07, 5.01 and 5.02, (F) to provide in Section 5.03 that no further contributions may be made to the Trust, that shares of Lincoln Common Stock received as Per Share Stock Consideration for Citizens Common Stock shall be retained and held subject to the same Award to which such Citizens Common Stock was subject, and that cash received as Per Share Cash Consideration for Citizens Common Stock shall be applied to the purchase of shares of Lincoln Common Stock on the open market, which shares shall be retained and held subject to the same Award to which such Citizens Common Stock was subject, (G) to provide in Section 7.01 that service as an advisory director of Lincoln Savings Bank provided for in Section 6.13 above, service as a director or director emeritus of Lincoln Savings Bank, and service as a director of Lincoln shall each constitute "service as a Director or Director Emeritus" for purposes of determining the extent to which Plan Share Awards are earned, and (H) to provide in Section 9.02 that the power to amend or terminate shall not include the right to cancel outstanding Plan Share Awards or to require shares of Lincoln Common Stock or other assets subject to any outstanding Award to be released from the trust under the RRP Plan while the Award remains outstanding. In addition, prior to the Effective Time, Citizens Savings Bank may modify any or all outstanding RRP Plan Awards held by employees of Citizens and its Subsidiaries who became employees of Lincoln or its Subsidiaries on the Effective Date to provide that the Award shall become fully vested, subject to any applicable bank regulatory req...
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Recognition and Retention Plan. Unvested Shares of CBI Common Stock issued pursuant to the 1996 Recognition and Retention Plan (the “RRP”) prior to the Effective Time shall be vested and converted into the Consideration to the extent provided in Article III. CBI shall take all necessary steps required to terminate the RRP as of the Effective Date. 6.18
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Recognition and Retention Plan. Prior to the Effective Time, Montgomery and MFC will take all necessary steps to provide that the axxxxx xx xestricted stock made under the Montgomery Financial Corporation 1997 Recognition and Retention Plxx (xxx "1997 RRP") and the Montgomery Savings Management Recognition Plan and Trust Agreement (xxx "XXP") shall become fully vested, subject to any applicable bank regulatory requirements, automatically no later than the Effective Time. Such steps shall include any necessary amendments to the 1997 RRP to so provide. To the extent that recipients of awards under the 1997 RRP need to consent to any such actions, Montgomery shall obtaxx xxxx consents from the MFC directors who are xxxxxxxxts of those awards. Shares of MFC Common Stock held in the 1997 RRP or the MRP which vest at the Effective Time shall be convertex xxxx xhe Consideration to the extent provided in Article III and pursuant to Elections made by or on behalf of the recipients of awards of such shares.
Sample 1
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Related to Recognition and Retention Plan

  • Assumption and Retention of Liabilities Pinnacle and OpCo intend that all employment-related and, with respect to individual independent contractors or Directors, service-related Liabilities and rights associated with OpCo Participants are to be assumed by OpCo or an OpCo Group member, in each case, except as specifically set forth herein. Accordingly, as of the Time of Distribution, OpCo or another member of the OpCo Group hereby retains or assumes and agrees to pay, perform, fulfill, and discharge, except as expressly provided in this Agreement, (i) all Liabilities and rights arising under or related to the Pinnacle Plans and the OpCo Plans, (ii) all employment or service-related Liabilities (including Liabilities relating to terminations of employment or service and any deemed termination of employment or service) and rights with respect to (A) all OpCo Participants and (B) any individual who is, or was, an individual independent contractor, Director, temporary employee, temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or non-payroll worker or in any other employment or similar relationship primarily connected to Pinnacle, any of its Subsidiaries, OpCo or an OpCo Group member, (iii) all Liabilities resulting from any failure of Pinnacle or a Pinnacle Group member to take any action required by this Agreement to be taken prior to the Time of Distribution, and (iv) any other Liabilities expressly transferred to OpCo or an OpCo Group member under this Agreement. In accordance with Section 7.2 hereof, OpCo shall indemnify and hold harmless Pinnacle and each Pinnacle Group member against any Liabilities or obligations allocated to, or retained or assumed by, OpCo or any member of the OpCo Group pursuant to this Agreement.

  • Compensation and Employers Liability If the Borrower has employees, workers’ compensation insurance in compliance with statutory requirements and employer’s liability insurance, to the extent exposure exists, with a limit of not less than $1,000,000 per accident, per employee and per disease including such other forms of insurance that the Borrower is required by law to provide for the Project, all other states’ endorsement and, to the extent any exposure exists, coverage with respect to the USL&H Act and Xxxxx Act, covering loss resulting from bodily injury, sickness, disability or death of the employees of the Borrower. Deductibles shall be the best commercially available in accordance with prudent industry practice.

  • Assumption and Retention of Liabilities; Related Assets (a) As of the Distribution Date, except as otherwise expressly provided for in this Agreement, EWS shall, or shall cause one or more members of the EWS Group to, assume or retain and EWS hereby agrees to pay, perform, fulfill and discharge, in due course in full (i) all Liabilities under all EWS Benefit Plans (provided, that as between EWS and SNI, SNI shall be responsible for certain of those Liabilities pursuant to Section 2.01(b) of this Agreement), (ii) all Liabilities with respect to the employment, retirement, service, termination of employment or termination of service of all EWS Employees, Former EWS Employees, their dependents and beneficiaries and other service providers (including any individual who is, or was, an independent contractor, temporary employee, temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or nonpayroll worker of any member of the EWS Group or in any other employment, non-employment, or retainer arrangement or relationship with any member of the EWS Group), in each case to the extent arising in connection with or as a result of employment with or the performance of services for any member of the EWS Group, and (iii) any other Liabilities expressly assumed by or retained by EWS or any of its Subsidiaries or Affiliates under this Agreement. For purposes of clarification and the avoidance of doubt, (x) the Liabilities assumed or retained by the EWS Group as provided for in this Section 2.01(a) are intended to be EWS Liabilities as such term is defined in the Separation Agreement, and (y) the Parties intend that such Liabilities assumed or retained by the EWS Group include the retirement benefits and health and welfare plan benefits under the EWS Benefit Plans for all EWS Employees, Former EWS Employees, their dependants, beneficiaries, alternate payees and surviving spouses.

  • Compensation; Employment Agreements 16 5.15 Noncompetition, Confidentiality and Nonsolicitation Agreements; Employee Policies...... 16 5.16

  • Compensation and Related Matters During the Term of the Executive’s employment, as compensation and consideration for the performance by the Executive of the Executive’s duties, responsibilities and covenants pursuant to this Agreement, the Company shall pay the Executive and the Executive agrees to accept in full payment for such performance the amounts and benefits set forth below.

  • Cooperation and Records Retention Seller and Buyer shall (i) each provide the other with such assistance as may reasonably be requested by any of them in connection with the preparation of any return, audit, or other examination by any taxing authority or judicial or administrative proceedings relating to liability for Taxes, (ii) each retain and provide the other with any records or other information that may be relevant to such return, audit or examination, proceeding or determination, and (iii) each provide the other with any final determination of any such audit or examination, proceeding, or determination that affects any amount required to be shown on any tax return of the other for any period. Without limiting the generality of the foregoing, Buyer and Seller shall each retain, until the applicable statutes of limitations (including any extensions) have expired, copies of all tax returns, supporting work schedules, and other records or information, in a timely manner, as and that may be relevant to such returns for all tax periods or portions thereof ending on or before the Closing Date and shall not destroy or otherwise dispose of any such records without first providing the other party with a reasonable opportunity to review and copy the same.

  • Compensation; Employment Agreements; Etc Enter into or amend or renew any employment, consulting, severance or similar agreements or arrangements with any of its directors, officers or employees or those of its subsidiaries or grant any salary or wage increase or increase any employee benefit (including incentive or bonus payments), except (1) for normal individual increases in compensation to employees (other than executive officers or directors) in the ordinary course of business consistent with past practice, (2) for other changes that are required by applicable law and (3) to satisfy Previously Disclosed contractual obligations.

  • Compensation and Employee Benefits SECTION 13.01.

  • Transition Plan 1. A transition plan is a detailed description of the process of transferring enrollees from non-participating providers to the Health Plan's behavioral health care provider network to ensure optimal continuity of care. The transition plan shall include, but not be limited to, a timeline for transferring enrollees, description of provider clinical record transfers, scheduling of appointments, and proposed prescription drug protocols and claims approval for existing providers during the transition period. The Health Plan shall document its efforts relating to the transition plan in the enrollee’s clinical records.

  • Compensation and General Benefits As compensation for his services under this Agreement, the Executive shall be compensated as follows:

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