Common use of Conversion Benefits Clause in Contracts

Conversion Benefits. In the event of a Conversion, the Bank will provide, or cause to be provided, to Xx. Xxxx in connection with such Conversion, stock-based compensation and benefits, including, without limitation, stock options, restricted stock awards, and participation in tax-qualified stock bonus plans which, in the aggregate, are either (a) accepted by Xx. Xxxx in writing as being satisfactory for purposes of this Agreement or (b) in the written, good faith opinion of a nationally recognized executive compensation consulting firm selected by the Bank and satisfactory to Xx. Xxxx, whose agreement shall not be unreasonably withheld, are no less favorable than the stock-based compensation and benefits usually and customarily provided to similarly situated executives of similar financial institutions in connection with similar transactions.

Conversion Benefits. In the event of a Conversion, the Bank will provide, or cause to be provided, to Xx. Xxxx Xxxxxxx in connection with such Conversion, stock-based compensation and benefits, including, without limitation, stock options, restricted stock awards, and participation in tax-qualified stock bonus plans which, in the aggregate, are either (a) accepted by Xx. Xxxx Xxxxxxx in writing as being satisfactory for purposes of this Agreement or (b) in the written, good faith opinion of a nationally recognized executive compensation consulting firm selected by the Bank and satisfactory to Xx. XxxxXxxxxxx, whose agreement shall not be unreasonably withheld, are no less favorable than the stock-based compensation and benefits usually and customarily provided to similarly situated executives of similar financial institutions in connection with similar transactions.

Conversion Benefits. In the event of a Conversion, the Bank will provide, or cause to be provided, to Xx. Xxxx Xxxxxx in connection with such Conversion, stock-based compensation and benefits, including, without limitation, stock options, restricted stock awards, and participation in tax-qualified stock bonus plans which, in the aggregate, are either (a) accepted by Xx. Xxxx Xxxxxx in writing as being satisfactory for purposes of this Agreement or (b) in the written, good faith opinion of a nationally recognized executive compensation consulting firm selected by the Bank and satisfactory to Xx. XxxxXxxxxx, whose agreement shall not be unreasonably withheld, are no less favorable than the stock-based compensation and benefits usually and customarily provided to similarly situated executives of similar financial institutions in connection with similar transactions.