Common use of Amendment and Termination of Plan Clause in Contracts

Amendment and Termination of Plan. The Board may, by resolution, at any time amend or terminate the Plan. The power to amend or terminate the Plan shall include the power to direct the Trustee to return to the Corporation or the Bank all or any part of the assets of the Trust, including Common Shares held in the Plan Share Reserve, as well as Common Shares and other assets subject to Awards which are not yet earned by the Directors or Employees to whom they are allocated; provided, however, that the termination of the Trust shall not affect a Recipient's right to earn Awards and to the distribution of Common Shares relating thereto, including earnings thereon, in accordance with the terms of this Agreement and the grant by the Committee or the Board.

Appears in 3 contracts

Samples: Recognition and Retention Plan and Trust Agreement (Home Loan Financial Corp), Recognition and Retention Plan and Trust Agreement (FFD Financial Corp/Oh), Recognition and Retention Plan (Home Loan Financial Corp)

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Amendment and Termination of Plan. The Board may, by resolution, at any time amend or terminate the Plan. The power to amend or terminate the Plan shall include the power to direct the Trustee to return to the Corporation or the Bank all or any part of the assets of the Trust, including Common Shares held in the Plan Share Reserve, as well as Common Shares and other assets subject to Awards which are have not yet been earned by the Directors or Employees to whom they are allocated; provided, however, that the termination of the Trust shall not affect a Recipient's right to earn Awards and to the distribution of Common Shares relating thereto, including earnings thereon, in accordance with the terms of this Agreement and the grant by the Committee or the Board.

Appears in 2 contracts

Samples: Recognition and Retention Plan (Market Financial Corp), Recognition and Retention Plan (Market Financial Corp)

Amendment and Termination of Plan. The Board may, by resolution, at any time amend or terminate the Plan. The power to amend or terminate the Plan shall include the power to direct the Trustee to return to the Corporation or the Bank Association all or any part of the assets of the Trust, including Common Shares held in the Plan Share Reserve, as well as Common Shares and other assets subject to Awards which are not yet earned by the Directors or Employees to whom they are allocated; provided, however, that the termination of the Trust shall not affect a Recipient's right to earn Awards and to the distribution of Common Shares relating thereto, including earnings thereon, in accordance with the terms of this Agreement and the grant by the Committee or the Board.

Appears in 2 contracts

Samples: Recognition and Retention Plan and Trust Agreement (Ohio State Financial Services Inc), Recognition and Retention Plan and Trust Agreement (Ohio State Financial Services Inc)

Amendment and Termination of Plan. The Board may, by resolution, at any time amend or terminate the Plan. The power to amend or terminate the Plan shall include the power to direct the Trustee to return to the Corporation or the Bank Company all or any part of the assets of the Trust, including Common Shares held in the Plan Share Reserve, as well as Common Shares and other assets subject to Awards which are not yet earned by the Directors or Employees to whom they are allocated; provided, however, that the termination of the Trust shall not affect a Recipient's right to earn Awards and to the distribution of Common Shares relating thereto, including earnings thereon, in accordance with the terms of this Agreement and the grant by the Committee or the Board.

Appears in 1 contract

Samples: Recognition and Retention Plan and Trust Agreement (United Community Financial Corp)

Amendment and Termination of Plan. The Board may, by resolution, at any time amend or terminate the Plan. The power to amend or terminate the Plan shall include the power to Board may also direct the Trustee to return to the Corporation or the Bank all or any part of the assets of the Trust, including Common Shares held in the Plan Share Reserve, as well as Common Shares and other assets subject to Awards which are have not yet been earned by the Directors or Employees to whom they are allocated; provided, however, that the termination of the Trust shall not affect a Recipient's right to earn Awards and to the distribution of Common Shares relating thereto, including earnings thereon, in accordance with the terms of this Agreement and the grant by the Committee or the Board.

Appears in 1 contract

Samples: Recognition and Retention Plan and Trust Agreement (Columbia Financial of Kentucky Inc)

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Amendment and Termination of Plan. The Board may, by resolution, at any time amend or terminate the PlanPlan and Trust. The power to amend or terminate the Plan shall include the power to direct the Trustee to return to the Corporation or the Savings Bank all or any part of the assets of the Trust, including shares of Common Shares Stock held in the Plan Share Reserve, as well as shares of Common Shares Stock and other assets subject to Plan Share Awards which are but not yet earned by the Directors or Employees to whom they are allocated; provided. However, however, that the termination of the Trust shall not affect a Recipient's right to earn earned Plan Share Awards and to the distribution of Common Shares Stock relating thereto, including earnings thereon, in accordance with the terms of this Agreement Plan and the grant by the Committee or the Board.

Appears in 1 contract

Samples: Recognition and Retention Plan (Guaranty Federal Bancshares Inc)

Amendment and Termination of Plan. The Board may, by resolution, --------------------------------- at any time amend or terminate the PlanPlan and Trust. The power to amend or terminate the Plan shall include the power to direct the Trustee to return to the Corporation or the Bank Company all or any part of the assets of the Trust, including shares of Common Shares Stock held in the Plan Share Reserve, as well as shares of Common Shares Stock and other assets subject to Plan Share Awards which are but not yet earned by the Directors or Employees to whom they are allocated; provided. However, however, that the termination of the Trust shall not affect a Recipient's right to earn Plan Share Awards and to the distribution of Common Shares Stock relating thereto, including earnings thereon, in accordance with the terms of this Agreement Plan and the grant by the Committee or the Board.

Appears in 1 contract

Samples: Outside Directors' Recognition and Retention Plan (Harbor Florida Bancorp Inc)

Amendment and Termination of Plan. The Board may, by resolution, at any time amend or terminate the Plan. The power to amend or terminate the Plan shall include the power to direct the Trustee to return to the Corporation Holding Company or the Bank Association all or any part of the assets of the Trust, including Common Shares held in the Plan Share Reserve, as well as Common Shares and other assets subject to Awards which are not yet earned by the Directors or Employees to whom they are allocated; allocated provided, however, that the termination of the Trust shall not affect a Recipient's right to earn Awards and to the distribution of Common Shares relating thereto, including earnings thereon, in accordance with the terms of this Agreement and the grant by the Committee or the Board.

Appears in 1 contract

Samples: Management Recognition Plan and Trust Agreement (Southern Community Bancshares Inc)

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