Common use of Awards to Directors Clause in Contracts

Awards to Directors. Notwithstanding anything herein to the contrary, upon the Effective Date, a Plan Share Award consisting of 627 Plan Shares shall be awarded to each Director of the Savings Bank that is not otherwise an Employee. Such Plan Share Award shall be earned and non-forfeitable at the rate of 20% as of the date of stockholder approval, and an additional 20% following each of the next four successive years during such periods of service as a Director or Director Emeritus. Further, such Plan Share Award shall be immediately 100% earned and non-forfeitable in the event of the death, Disability or Retirement of such Director or Director Emeritus, or upon a Change in Control of the Savings Bank or Parent. Subsequent to the Effective Date, Plan Share Awards may be awarded to newly elected or appointed Directors of the Savings Bank by the Committee, provided that total Plan Share Awards granted to non-employee Directors of the Savings Bank shall not exceed 56% of the total Plan Share Reserve in the aggregate under the Plan or 8% of the total Plan Share Reserve to any individual non-employee Director.

Awards to Directors. Notwithstanding anything herein to the contrary, upon the Effective Date, a Plan Share Award consisting of 627 2,484 Plan Shares shall be awarded to each Director of the Savings Bank that is not otherwise an Employee. Such Plan Share Award shall be earned and non-non- forfeitable at the rate of 2025% as of the date of stockholder approvalDecember 15, 1998, and an additional 2025% following each of the next four three successive years during such periods of service as a Director or Director Emeritus. Further, such Plan Share Award shall be immediately 100% earned and non-forfeitable in the event of the death, Disability or Retirement of such Director or Director Emeritus, or upon a Change in Control of the Savings Bank or Parent. Subsequent to the Effective Date, Plan Share Awards may be awarded to newly elected or appointed Directors of the Savings Bank by the Committee, provided that total Plan Share Awards granted to non-employee Directors of the Savings Bank shall not exceed 5630% of the total Plan Share Reserve in the aggregate under the Plan or 85% of the total Plan Share Reserve to any individual non-employee Director.

Awards to Directors. Notwithstanding anything herein to the contrary, upon the Effective Date, a Plan Share Award consisting of 627 2,484 Plan Shares shall be awarded to each Director of the Savings Bank that is not otherwise an Employee. Such Plan Share Award shall be earned and non-forfeitable at the rate of 2025% as of the date of stockholder approvalDecember 15, 1998, and an additional 2025% following each of the next four three successive years during such periods of service as a Director or Director Emeritus. Further, such Plan Share Award shall be immediately 100% earned and non-forfeitable in the event of the death, Disability or Retirement of such Director or Director Emeritus, or upon a Change in Control of the Savings Bank or Parent. Subsequent to the Effective Date, Plan Share Awards may be awarded to newly elected or appointed Directors of the Savings Bank by the Committee, provided that total Plan Share Awards granted to non-employee Directors of the Savings Bank shall not exceed 5630% of the total Plan Share Reserve in the aggregate under the Plan or 85% of the total Plan Share Reserve to any individual non-employee Director.

Awards to Directors. Notwithstanding anything herein to the contrary, upon the Effective Date, a Plan Share Award consisting of 627 2,485 Plan Shares shall be awarded to each Director of the Savings Bank that is not otherwise an Employee. Such Plan Share Award shall be earned and non-forfeitable at the rate of 20% as of the date of stockholder approval, and an additional 20% following each of the next four successive years during such periods of service as a Director or Director Emeritus. Further, such Plan Share Award shall be immediately 100% earned and non-forfeitable in the event of the death, Disability or Retirement of such Director or Director Emeritus, or upon a Change in Control of the Savings Bank or Parent. Subsequent to the Effective Date, Plan Share Awards may be awarded to newly elected or appointed Directors of the Savings Bank by the Committee, provided that total Plan Share Awards granted to non-employee Directors of the Savings Bank shall not exceed 56% of the total Plan Share Reserve in the aggregate under the Plan or 8% of the total Plan Share Reserve to any individual non-non- employee Director.