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 Corporation, as successor to Txxx Xxxx Bancorp, Inc., with a proprietary interest in the Corporation as compensation for their contributions to the Corporation, the Bank, and other Subsidiaries and as an incentive to make such contributions in the future.

Appears in 2 contracts

Samples: Recognition and Retention Plan for Officers and Trust Agreement (Esb Financial Corp), Recognition and Retention Plan for Officers and Trust Agreement (Esb Financial Corp)

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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 Employees and Non-Employee Directors of the Corporation, as successor to Txxx Xxxx Bancorp, Inc., Corporation and any Subsidiary thereof with a proprietary interest in the Corporation as compensation for their contributions to the Corporation, the Bank, Corporation and other Subsidiaries any Subsidiary and as an incentive to make such contributions in the future.

Appears in 2 contracts

Samples: Recognition and Retention Plan and Trust Agreement (Icarus International Inc), Recognition and Retention Plan and Trust Agreement (Icarus International Inc)

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 Corporation, as successor to Txxx Xxxx Bancorp, Inc., with a proprietary interest in the Corporation Company as compensation for their contributions to the Corporation, the Bank, Company and other 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 The purpose of the Plan is to retain personnel of experience and ability in key positions by providing such key employees of the Corporation, as successor to Txxx Xxxx Bancorp, Inc., Company and any Subsidiaries with a proprietary interest in the Corporation Company as compensation for their contributions to the Corporation, the Bank, Company and other 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)

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 Corporation, as successor to Txxx Xxxx Bancorp, Inc., with a proprietary interest in the Corporation Company as compensation for their contributions to the Corporation, the Bank, Company and other 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 by providing such key employees Employees and Non-Employee Directors of the Corporation, as successor to Txxx Xxxx Bancorp, Inc., Corporation and of First Federal Savings and Loan (the "Association") with a proprietary interest in the Corporation as compensation for their contributions to the Corporation, the BankAssociation, and any other Subsidiaries and as an incentive to make such contributions in the future.

Appears in 1 contract

Samples: Management Recognition Plan and Trust Agreement (First Defiance Financial Corp)

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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 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 Corporation, as successor to Txxx Xxxx Bancorp, Inc., with a proprietary interest in the Corporation as compensation for their contributions to the Corporation, the Bank, and other 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)

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 Directors and Employees of the Corporation, as successor to Txxx Xxxx Bancorp, Inc., Bank and the Corporation with a proprietary interest in the Corporation and its Subsidiaries as compensation for their contributions to the Corporation, the Bank, and any other Subsidiaries and as an incentive to make such contributions in the future.

Appears in 1 contract

Samples: Recognition and Retention Plan and Trust Agreement (First Keystone Financial Inc)

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 Corporation, as successor to Txxx Xxxx Bancorp, Inc., with a proprietary interest in the Corporation as compensation for Company in consideration for, and in recognition of, their contributions to the CorporationCompany, the Bank, its subsidiaries and other 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)

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