Common use of Impact of Award on Other Benefits of Participant Clause in Contracts

Impact of Award on Other Benefits of Participant. The value of the Plan Shares on the date of the Award or at the time the Plan Shares become vested shall not be includable as compensation or earnings for purposes of any other benefit plan offered by the Bank, the Company or any subsidiary thereof, other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plans.

Appears in 4 contracts

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

AutoNDA by SimpleDocs

Impact of Award on Other Benefits of Participant. The value of the Plan Shares on the date of the Award or at the time the Plan Shares become vested becomes vested, shall not be includable as compensation or earnings for purposes of any other benefit plan offered by the Bank, the Company Corporation or any subsidiary thereof, Subsidiary other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plans.

Appears in 4 contracts

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

Impact of Award on Other Benefits of Participant. The value ----------- ------------------------------------------------ of the Plan Shares any Award, either on the date of the Award or at the time the Plan Shares such shares become vested vested, shall not be includable as compensation or earnings for purposes of any other benefit plan offered by the Bank, the Company Corporation or any subsidiary thereof, Subsidiary other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plansplan.

Appears in 3 contracts

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

Impact of Award on Other Benefits of Participant. The value of the Plan Shares on the date of the Award or at the time the Plan Shares become becomes vested shall not be includable as compensation or earnings for purposes of any other benefit plan offered by the Bank, the Company Corporation or any subsidiary thereof, Subsidiary other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plans.

Appears in 3 contracts

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

Impact of Award on Other Benefits of Participant. The value of the Plan Shares on the date of the Award or at the time the Plan Shares become vested shall not be includable as compensation or earnings for purposes of any other benefit plan offered to directors by the Bank, the Company or any subsidiary thereof, other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plansunless the Committee determines otherwise.

Appears in 2 contracts

Samples: Director Restricted Stock Unit Award Agreement (BNC Bancorp), Restricted Stock Grant Agreement (BNC Bancorp)

Impact of Award on Other Benefits of Participant. The value of the ------------------------------------------------ Plan Shares on the date of the Award or at the time the Plan Shares become vested becomes vested, shall not be includable as compensation or earnings for purposes of any other benefit plan offered by the Bank, the Company Corporation or any subsidiary thereof, Subsidiary other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plans.

Appears in 2 contracts

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

Impact of Award on Other Benefits of Participant. The value of the Plan Shares on the date of the Award or at the time the Plan Shares become vested shall not be includable as compensation or earnings for purposes of any other benefit plan offered by the Bank, the Company Corporation or any subsidiary thereof, other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plans.

Appears in 2 contracts

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

AutoNDA by SimpleDocs

Impact of Award on Other Benefits of Participant. The value of the Plan Shares on the date of the Award or at the time the Plan Shares become vested shall not be includable as compensation or earnings for purposes of any other benefit plan offered by the Bank, the Company or any subsidiary thereof, other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plans, unless the Committee determines otherwise.

Appears in 2 contracts

Samples: Employee Restricted Stock Unit Award Agreement (BNC Bancorp), Employee Restricted Stock Unit Award Agreement (BNC Bancorp)

Impact of Award on Other Benefits of Participant. The value of the Plan ------------------------------------------------ Shares on the date of the Award or at the time the Plan Shares become vested becomes vested, shall not be includable as compensation or earnings for purposes of any other benefit plan offered by the Bank, the Company Corporation or any subsidiary thereof, Subsidiary other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plans.

Appears in 1 contract

Samples: Management Recognition Plan and Trust Agreement (South Street Financial Corp)

Impact of Award on Other Benefits of Participant. The value of ------------------------------------------------ the Plan Shares on the date of the Award or at the time the Plan Shares become vested becomes vested, shall not be includable as compensation or earnings for purposes of any other benefit plan offered by the Bank, the Company Corporation or any subsidiary thereof, Subsidiary other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plans.

Appears in 1 contract

Samples: Restricted Stock Grant Agreement (BNC Bancorp)

Impact of Award on Other Benefits of Participant. The value of the Plan Shares ----------- ------------------------------------------------ any Award, either on the date of the Award or at the time the Plan Shares such shares become vested vested, shall not be includable as compensation or earnings for purposes of any other benefit plan offered by the Bank, the Company Corporation or any subsidiary thereof, Subsidiary other than any qualified employee benefit plan which provides that such value shall be included as compensation or earnings for purposes of such plansplan.

Appears in 1 contract

Samples: Management Recognition Plan and Trust Agreement (Innes Street Financial Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!