Common use of Delivery of Vested Plan Shares to the Participant Clause in Contracts

Delivery of Vested Plan Shares to the Participant. Except as provided above, after the date on which all or a portion of the Plan Shares have become vested as provided in this Agreement and in the Plan, the Committee shall instruct the Bank to deliver to the Participant, the Participant’s designee, such other person as shall have been designated as Participant’s beneficiary in accordance with this Agreement or any other permitted recipient pursuant to the Plan, as applicable, certificates representing the Plan Shares which have become vested and nonforfeitable, as the Committee shall determine, free from any restrictions imposed by this Agreement other than such restrictions and conditions as may be deemed necessary by the Committee pursuant to Section 3 above. The parties agree to execute any further instrument and to take such action as may be reasonably necessary to carry out the intent of this Agreement.

Appears in 4 contracts

Samples: Restricted Stock Grant Agreement (BNC Bancorp), Restricted Stock Grant Agreement (BNC Bancorp), Restricted Stock Grant Agreement (BNC Bancorp)

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Delivery of Vested Plan Shares to the Participant. Except as provided above, after the date on which all or a portion of the Plan Shares have become vested as provided in this Agreement and in the Plan, the Committee shall instruct the Bank to deliver to the Participant, the Participant’s designee, such other person as shall have been designated as Participant’s beneficiary in accordance with this Agreement Agreement, or any other permitted recipient pursuant to the Plan, as applicable, certificates representing the Plan Shares which have become vested and nonforfeitable, as the Committee shall determine, free from any restrictions imposed by this Agreement other than such restrictions and conditions as may be deemed necessary by the Committee pursuant to Section paragraph 3 above. The parties agree to execute any further instrument and to take such action as may be reasonably reasonable necessary to carry out the intent of this Agreement.

Appears in 3 contracts

Samples: Restricted Stock Grant Agreement (BNC Bancorp), Restricted Stock Grant Agreement (BNC Bancorp), Restricted Stock Grant Agreement (BNC Bancorp)

Delivery of Vested Plan Shares to the Participant. Except as provided above, after the date on which all or a portion of the Plan Shares have become vested as provided in this Agreement and in the Plan, the Committee shall instruct the Bank to deliver to the Participant, the Participant’s designee, such other person as shall have been designated as Participant’s beneficiary in accordance with this Agreement Agreement, or any other permitted recipient pursuant to the Plan, as applicable, certificates representing the Plan Shares which have become vested and nonforfeitable, as the Committee shall determine, free from any restrictions imposed by this Agreement other than such restrictions and conditions as may be deemed necessary by the Committee pursuant to Section paragraph 3 above. The parties agree to execute any further instrument and to take such action as may be reasonably reasonable necessary to carry out the intent of this Agreement.

Appears in 3 contracts

Samples: Restricted Stock Grant Agreement (BNC Bancorp), Restricted Stock Grant Agreement (BNC Bancorp), Restricted Stock Grant Agreement (BNC Bancorp)

Delivery of Vested Plan Shares to the Participant. Except as provided above, after After the date ------------------------------------------------- on which all or a portion of the Plan Shares have become vested as provided in this Agreement and in the Plan, the Committee shall instruct the Bank Trustees to deliver to the Participant, the Participant’s 's designee, such other person as shall have been designated as Participant’s 's beneficiary in accordance with this Agreement Agreement, or any other permitted recipient pursuant to the Plan, as applicable, certificates representing the Plan Shares which have become vested and nonforfeitable, as the Committee shall determine, free from any restrictions imposed by this Agreement other than such restrictions and conditions as may be deemed necessary by the Committee pursuant to Section paragraph 3 above. The parties agree to execute any further instrument and to take such action as may be reasonably necessary to carry out the intent of this Agreement.

Appears in 2 contracts

Samples: Plan and Trust Agreement (Scotland Bancorp Inc), Plan and Trust Agreement (Innes Street Financial Corp)

Delivery of Vested Plan Shares to the Participant. Except as provided above, after After the date on which all or a portion of the Plan Shares have become vested as provided in this Agreement and in the Plan, the Committee shall instruct the Bank to deliver to the Participant, the Participant’s 's designee, such other person as shall have been designated as Participant’s 's beneficiary in accordance with this Agreement Agreement, or any other permitted recipient pursuant to the Plan, as applicable, certificates representing the Plan Shares which have become vested and nonforfeitable, as the Committee shall determine, free from any restrictions imposed by this Agreement other than such restrictions and conditions as may be deemed necessary by the Committee pursuant to Section paragraph 3 above. The parties agree to execute any further instrument and to take such action as may be reasonably reasonable necessary to carry out the intent of this Agreement.

Appears in 1 contract

Samples: Restricted Stock Grant Agreement (BNC Bancorp)

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Delivery of Vested Plan Shares to the Participant. Except as provided above, after After the date on ------------------------------------------------- which all or a portion of the Plan Shares have become vested as provided in this Agreement and in the Plan, the Committee shall instruct the Bank Trustees to deliver to the Participant, the Participant’s 's designee, such other person as shall have been designated as Participant’s 's beneficiary in accordance with this Agreement Agreement, or any other permitted recipient pursuant to the Plan, as applicable, certificates representing the Plan Shares which have become vested and nonforfeitable, as the Committee shall determine, free from any restrictions imposed by this Agreement other than such restrictions and conditions as may be deemed necessary by the Committee pursuant to Section paragraph 3 above. The parties agree to execute any further instrument and to take such action as may be reasonably necessary to carry out the intent of this Agreement.

Appears in 1 contract

Samples: Home Savings (South Street Financial Corp)

Delivery of Vested Plan Shares to the Participant. Except as provided above, after After the date on which all or a portion of the Plan Shares have become vested as provided in this Agreement and in the Plan, the Committee shall instruct the Bank to deliver to the Participant, the Participant’s designee, such other person as shall have been designated as Participant’s beneficiary in accordance with this Agreement or any other permitted recipient pursuant to the Plan, as applicable, certificates representing the Plan Shares which have become vested and nonforfeitable, as the Committee shall determine, free from any restrictions imposed by this Agreement other than such restrictions and conditions as may be deemed necessary by the Committee pursuant to Section 3 above. The parties agree to execute any further instrument and to take such action as may be reasonably necessary to carry out the intent of this Agreement.

Appears in 1 contract

Samples: Restricted Stock Grant Agreement (BNC Bancorp)

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