Payment of Dividends on Plan Share Awards. A holder of a Plan Share Award, whether or not earned, shall also be entitled to receive an amount equal to any cash dividends declared and paid with respect to shares of Common Stock represented by such Plan Share Award between the date the relevant Plan Share Award was granted to such Participant and the date the Plan Shares are distributed. Such cash amounts shall be paid as compensation to the Participant by the Trust or the Bank within 30 days of the applicable dividend payment date, less applicable tax withholding, if applicable.
Appears in 5 contracts
Samples: Stock Bonus Plan and Trust Agreement (Wells Financial Corp), Restricted Stock Plan and Trust Agreement (PHSB Financial Corp), Stock Bonus Plan and Trust Agreement (Wells Financial Corp)
