Exception for Termination after a Change in Control. Notwithstanding the general rule contained in Section 7.01 above, all Plan Shares subject to a Plan Share Award held by a Participant shall be deemed to be immediately 100% earned and non-forfeitable in the event of a Change in Control of the Parent or the Bank and shall be distributed as soon as practicable thereafter.
Appears in 3 contracts
Samples: Restricted Stock Plan and Trust Agreement (Roebling Financial Corp, Inc.), Restricted Stock Plan and Trust Agreement (Roebling Financial Corp, Inc.), Restricted Stock Plan and Trust Agreement (Osage Bancshares, Inc.)
Exception for Termination after a Change in Control. Notwithstanding the general rule contained in Section 7.01 above, all Plan Shares subject to a Plan Share Award held by a Participant shall be deemed to be immediately 100% earned and non-forfeitable in the event of a Change in Control of the Parent Company or the Bank and shall be distributed as soon as practicable thereafter.
Appears in 2 contracts
Samples: Restricted Stock Plan and Trust Agreement (Community First Bancorp Inc), Restricted Stock Plan and Trust Agreement (Synergy Financial Group Inc /Nj/)
Exception for Termination after a Change in Control. Notwithstanding the general rule contained in Section 7.01 above, all Plan Shares subject to a Plan Share Award held by a Participant shall be deemed to be immediately 100% earned and non-forfeitable in the event of a Change in Control of the Parent or the Savings Bank and shall be distributed as soon as practicable thereafter; provided that such accelerated vesting is not inconsistent with applicable regulations of the OTS or other applicable banking regulatory agency at the time of such Change in Control.
Appears in 2 contracts
Samples: Restricted Stock Plan and Trust Agreement (Guaranty Federal Bancshares Inc), Restricted Stock Plan and Trust Agreement (Afsala Bancorp Inc)
Exception for Termination after a Change in Control. Notwithstanding the general rule contained in Section 7.01 above, all Plan Shares subject to a Plan Share Award held by a Participant shall be deemed to be immediately 100% earned and non-forfeitable in the event of a Change in Control of the Parent or the Bank and shall be distributed as soon as practicable thereafter.
Appears in 1 contract
Samples: Stock Bonus Plan and Trust Agreement (Wells Financial Corp)
Exception for Termination after a Change in Control. Notwithstanding the general rule contained in Section 7.01 above, all Plan Shares subject to a Plan Share Award held by a Participant shall be deemed to be immediately 100% earned and non-forfeitable in as of the event date of a Change in Control of the Parent or the Bank and shall be distributed as soon as practicable thereafter.
Appears in 1 contract
Samples: Restricted Stock Plan and Trust Agreement (Se Financial Corp)
Exception for Termination after a Change in Control. Notwithstanding the general rule contained in Section 7.01 above, all Plan Shares subject to a Plan Share Award held by a Participant shall be deemed to be immediately 100% earned and non-forfeitable in the event of a Change in Control of the Parent or the Savings Bank and shall be distributed as soon as practicable thereafter.
Appears in 1 contract
Samples: Restricted Stock Plan and Trust Agreement (Harrodsburg First Financial Bancorp Inc)
