Purpose of the Plan. The purpose of the Plan is to retain personnel of experience and ability in key positions by providing Employees and Non-Employee Directors with a proprietary interest in the Corporation and its Subsidiary Companies as compensation for their contributions to the Corporation and the Subsidiary Companies and as an incentive to make such contributions in the future. Each Recipient of a Plan Share Award hereunder is advised to consult with his or her personal tax advisor with respect to the tax consequences under federal, state, local and other tax laws of the receipt of a Plan Share Award hereunder.
Appears in 8 contracts
Samples: Recognition and Retention Plan and Trust Agreement (Willow Financial Bancorp, Inc.), Recognition and Retention Plan and Trust Agreement (Tierone Corp), 1999 Recognition and Retention Plan and Trust Agreement (Willow Financial Bancorp, Inc.)
Purpose of the Plan. The purpose of the Plan is to retain personnel of experience and ability in key positions by providing Employees and Non-Employee Directors with a proprietary interest in the Corporation and its Subsidiary Companies as compensation for their contributions to the Corporation and the its Subsidiary Companies and as an incentive to make such contributions in the future. Each Recipient of a Plan Share Award hereunder is advised to consult with his or her personal tax advisor with respect to the tax consequences under federal, state, local and other tax laws of the receipt of a Plan Share Award hereunder.
Appears in 2 contracts
Samples: 1999 Recognition and Retention Plan and Trust Agreement (Ibl Bancorp), 1999 Recognition and Retention Plan and Trust Agreement (Community Savings Bankshares Inc /De/)
