Accrual and Payment of Dividends. A holder of a Plan Share Award, whether or not earned, shall also be entitled to receive an amount equal to any cash dividends declared and paid with respect to shares of Common Stock represented by such Plan Share Award between the date the relevant Plan Share Award was granted to such Participant and the date the Plan Shares are distributed. Such cash dividend amounts shall be held in arrears under the Trust and distributed upon the earning of the applicable Plan Share Award. Such payment shall also include an appropriate amount of earnings, if any, of the Trust assets with respect to any cash dividends so distributed.
Appears in 13 contracts
Samples: Restricted Stock Plan and Trust Agreement (Guaranty Federal Bancshares Inc), Restricted Stock Plan and Trust Agreement (Esb Financial Corp), Restricted Stock Plan and Trust Agreement (Osage Federal Financial Inc)
Accrual and Payment of Dividends. A holder of a Plan Share Award, whether or not earnednon-forfeitable, shall also be entitled to receive an amount equal to any cash dividends declared and paid with respect to shares of Common Stock represented by such Plan Share Award between the date the relevant Plan Share Award was granted to such Participant Recipient and the date the Plan Shares are distributed. Such cash dividend amounts shall be held in arrears under the Trust and distributed upon the earning of the applicable Plan Share Award. Such payment payments shall also include an appropriate amount of earnings, if any, of the Trust assets with respect to any cash dividends so distributed.
Appears in 1 contract
Samples: Management Stock Bonus Plan and Trust Agreement (First Colorado Bancorp Inc)
Accrual and Payment of Dividends. A holder of a Plan Share Award, whether or not earned, shall also be entitled to receive an amount equal to any cash dividends declared and paid with respect to shares of Common Stock represented by such Plan Share Award between the date the relevant Plan Share Award was granted to such Participant and the date the Plan Shares are distributed. Such cash dividend amounts shall be held in arrears under paid by the Trust and distributed upon at the earning time of the applicable payment of dividends on the Common Stock represented by a Plan Share Award. Such payment shall also include an appropriate amount of earnings, if any, of the Trust assets with respect to any cash dividends so distributed.
Appears in 1 contract
Samples: Restricted Stock Plan and Trust Agreement (Harrodsburg First Financial Bancorp Inc)
