Common use of Purpose of the Plan Clause in Contracts

Purpose of the Plan. 2.01 The purpose of the Plan is to retain personnel of experience and ability in key positions by providing such key employees of the Company and any Subsidiaries with a proprietary interest in the Company as compensation for their contributions to the Company and any Subsidiaries and as an incentive to make such contributions in the future.

Appears in 1 contract

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

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Purpose of the Plan. 2.01 The purpose of the Plan is to retain personnel of experience and ability in key positions by providing such key employees of the Company and any Subsidiaries with a proprietary interest in the Company as compensation for in consideration for, and in recognition of, their contributions to the Company Company, its subsidiaries and any Subsidiaries its affiliates and as an incentive to make such contributions in the future.

Appears in 1 contract

Samples: Management Recognition Plan and Trust Agreement (Old Guard Group Inc)

Purpose of the Plan. 2.01 2.01. The purpose of the Plan is to retain personnel of experience and ability in key positions by providing such key employees of the Company and any Subsidiaries with a proprietary interest in the Company as compensation for their contributions to the Company and any its Subsidiaries and as an incentive to make such contributions in the future.

Appears in 1 contract

Samples: Management Development and Recognition Plan and Trust Agreement (CSB Financial Group Inc)

Purpose of the Plan. 2.01 The purpose of the Plan is to retain personnel of experience and ability in key positions and to provide incentive for them to make significant contributions to the Company and its subsidiaries in the future by providing such key employees of the Company and any Subsidiaries with a proprietary interest in the Company as compensation for their contributions to the Company and any Subsidiaries and as an incentive to make such contributions in the futureCompany.

Appears in 1 contract

Samples: Management Recognition Plan and Trust Agreement (Mercer Insurance Group Inc)

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Purpose of the Plan. 2.01 2.1 The purpose of the Plan is to retain personnel of experience and ability in key positions by providing such key employees of the Company and any Subsidiaries with a proprietary interest in the Company as compensation for their contributions to the Company and any its Subsidiaries and as an incentive to make such contributions in the future.

Appears in 1 contract

Samples: Management Development and Recognition Plan and Trust Agreement (Cgb&l Financial Group Inc)

Purpose of the Plan. 2.01 2.01. The purpose of the Plan is to continue to attract and retain personnel employees and officers of experience and ability in key positions by providing such key employees of the Company and any Subsidiaries persons with a proprietary interest in the Company as compensation for their contributions to the Company and any Subsidiaries its Affiliates and as an incentive to make such contributions and to promote the Company's growth and profitability in the future.

Appears in 1 contract

Samples: Recognition and Retention Plan (Harbor Florida Bancorp Inc)

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