Common use of Form of Allocation Clause in Contracts

Form of Allocation. As promptly as practicable after a determination is made pursuant to Sections 6.01 or 6.02 that a Plan Share Award is to be issued, the Board of Directors or the Committee shall notify the Recipient in writing of the grant of the Award, the number of Plan Shares covered by the Award, and the terms upon which the Plan Shares subject to the Award shall be distributed to the Recipient. The date on which the Board of Directors or the Committee makes the determination with respect to Plan Share Awards shall be considered the date of grant of the Plan Share Award. The Board of Directors or the Committee shall maintain records as to all grants of Plan Share Awards under the Plan.

Appears in 2 contracts

Samples: Recognition and Retention Plan and Trust Agreement (Pittsburgh Home Financial Corp), Recognition and Retention Plan and Trust Agreement (Gs Financial Corp)

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Form of Allocation. As promptly as practicable after a determination is made pursuant to Sections 6.01 or 6.02 that a Plan Share Award is to be issued, the Board of Directors or the Board of Directors or the Committee shall notify the Recipient in writing of the grant of the Award, the number of Plan Shares covered by the Award, and the terms upon which the Plan Shares subject to the Award shall be distributed to the Recipient. The date on which the Board of Directors or the Committee makes so notifies the determination with respect to Plan Share Awards Recipient shall be considered the date of grant of the Plan Share Award. The Board of Directors or the Committee shall maintain records as to all grants of Plan Share Awards under the Plan.

Appears in 1 contract

Samples: Management Recognition Plan and Trust Agreement (Jacksonville Bancorp Inc)

Form of Allocation. As promptly as practicable after a determination is made pursuant to Sections 6.01 or 6.02 that a Plan Share Award is to be issued, the Board of Directors or the Committee shall notify the Recipient in writing of the grant of the Award, the number of Plan Shares covered by the Award, and the terms upon which the Plan Shares subject to the Award shall be distributed to the Recipient. The date on which the Board of Directors or the Committee makes so notifies the determination with respect to Plan Share Awards Recipient shall be considered the date of grant of the Plan Share Award. The Board of Directors or the Committee shall maintain records as to all grants of Plan Share Awards under the Plan.

Appears in 1 contract

Samples: Management Recognition Plan and Trust Agreement (Fidelity Financial of Ohio Inc)

Form of Allocation. As promptly as practicable after a -------------------- determination is made pursuant to Sections Section 6.01 or 6.02 that a Plan Share Award is to be issued, the Board of Directors or the Committee shall notify the Recipient in writing of the grant of the Award, the number of Plan Shares covered by the Award, and the terms upon which the Plan Shares subject to the Award shall be distributed to the RecipientEmployee. Such terms shall be reflected in a written agreement with the Employee. The date on which the Board of Directors or Committee so notifies the Committee makes the determination with respect to Plan Share Awards Recipient shall be considered the date of grant of the Plan Share Award. The Board of Directors or the Committee shall maintain records as to all grants of Plan Share Awards under the Plan.

Appears in 1 contract

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

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Form of Allocation. As promptly as practicable after a determination is made pursuant to Sections 6.01 or Section 6.02 that a Plan Share Award is to be issuedhas been granted, the Board of Directors or the Committee shall notify the Recipient in writing of the grant of the Award, the number of Plan Shares covered by the Award, and the terms upon which the Plan Shares subject to the Award shall may be distributed to the Recipientearned. The date on which the Board Committee so notifies the Recipient shall be considered the date of Directors or the initial grant of Plan Share Awards. The date on which the Committee makes so notifies the determination with respect to Plan Share Awards Recipient shall be considered the date of grant of the any subsequent Plan Share AwardAwards. The Board of Directors or the Committee shall maintain records as to all grants of Plan Share Awards under the Plan.

Appears in 1 contract

Samples: Recognition and Retention Plan and Trust Agreement (First Federal Bankshares Inc)

Form of Allocation. As promptly as practicable after a determination is made an allocation pursuant to Sections 6.01 or 6.02 that a Plan Share Award is to be issued, the Board of Directors or the Committee shall notify the Recipient in writing of the grant of the Award, the number of Plan Shares covered by the Award, and the terms upon which the Plan Shares subject to the Award shall be distributed to the Recipient, and the rate at which the Plan Share Award shall become vested. The date on which the Board of Directors or the Committee makes so notifies the determination with respect to Plan Share Awards Recipient shall be considered the date of grant of the Plan Share Award. The Board of Directors or the Committee shall maintain records as to all grants of Plan Share Awards under the Plan.

Appears in 1 contract

Samples: 1996 Amended Recognition and Retention Plan and Trust Agreement (Commonwealth Bancorp Inc)

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