RRP Sample Clauses

RRP. MFFC shall not award any of the UNAWARDED RRP SHARES to any of the RRP participants and shall cause the RRP Trustee to transfer all right, title and interest in and to the UNAWARDED RRP SHARES to MFFC immediately before the BFOH EFFECTIVE TIME. At the BFOH EFFECTIVE TIME, all of the UNVESTED RRP SHARES shall vest and shall be exchanged for the BFOH MERGER CONSIDERATION, after which BFOH shall cause the RRP Trustee to distribute to RRP participants (a) the BFOH MERGER CONSIDERATION for which the UNVESTED RRP SHARES have been exchanged, (b) all dividends previously paid by MFFC on the UNVESTED RRP SHARES, together with interest earned thereon, and (c) fifty percent (50%) of all dividends previously paid by MFFC on the UNAWARDED RRP SHARES, together with interest earned thereon.
Sample 1
AutoNDA by SimpleDocs
RRP. The RRP and each RRP agreement issued thereunder outstanding --- on the date hereof and remaining outstanding immediately prior to the Effective Time shall, at the Effective Time, be assumed by FCN. Any shares of FCN Common Stock ("FCN Restricted Stock") to be issued pursuant to this Agreement in exchange for shares of BBI Common Stock that are subject to forfeiture restrictions ("Restricted Stock") under the RRP shall remain subject to the same forfeiture restrictions formerly applicable to the BBI Common Stock, an appropriate legend may be made on the certificates for FCN Restricted Stock issued in the exchange indicating the applicable restrictions and any related agreement(s) that apply to the vesting or forfeiture of such shares (and the FCN Restricted Stock shall otherwise be subject to the terms of the RRP) and the certificates for FCN Restricted Stock may be held in safekeeping by or on behalf of FCN pending expiration of the forfeiture restrictions.
Sample 1
RRP. Delphos shall not grant any of the 19,846 unawarded stock awards to any of the Stock Plan participants and shall cause the Stock Plan trustee to transfer all right, title, interest in and to, including all dividends and interest earned thereon, previously paid by Delphos on the unawarded stock awards to Delphos immediately before the Effective Time. At the Effective Time, all of the unvested stock awards shall vest and be exchanged for the Merger Consideration, after which UBI shall cause the Stock Plan trustee to distribute to Stock Plan participants (a) the Merger Consideration for which the unvested Stock Plan participants have been exchanged and (b) all dividends previously paid by Delphos on the unvested stock awards, together with interest earned thereon.
Sample 1
RRP. All shares of Company Common Stock awarded pursuant to the RRP shall become fully vested and nonforfeitable prior to or at the Effective Time as provided in the RRP. Recipients of shares awarded pursuant to the RRP (including recipients who become vested in the RRP shares after the date of this Agreement, including at the Effective Time) shall be entitled to elect cash or Acquiror Common Stock in the same manner as the holders of Company Common Stock. No additional shares of Company Common Stock shall be granted after the date of this Agreement pursuant to the RRP. The RRP shall be terminated as soon as practicable after the Effective Time and all remaining unallocated shares held by the RRP, if any, shall be extinguished as of the Effective Time. All shares of Company Common Stock awarded, pursuant to the RRP shall be considered issued and outstanding shares at the Effective Time for all purposes and in particular for purposes of Article I of this Agreement.
Sample 1

Related to RRP

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • MIP The term "MIP" for purposes of this Agreement shall mean --- the SunTrust Banks, Inc. Management Incentive Plan or, if there is any material change in the terms, operation or administration of such plan following a Change in Control, any successor to such plan in which Executive is eligible to participate and which provides an opportunity for a bonus for Executive which is comparable to the opportunity which Executive had under such plan before such Change in Control or, if Executive reasonably determines that there is no such plan in which Executive is eligible to participate but SunTrust or a parent corporation maintains a short term bonus plan for the benefit of senior executives which provides for such an opportunity, such other plan as agreed to by Executive and the Compensation Committee.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Stock Ownership Guidelines Executive will comply with all stock ownership and stock retention guidelines or policies established by the Board and the Committee, as in effect from time to time.

  • Company Car Throughout the term of this Agreement, Employee shall be entitled to the exclusive use of a company car of at least the same type and quality as that furnished to Employee as of the date of this Agreement. Employer shall replace such company car from time to time with new vehicles, such that the company car provided to Employee shall at no time be older than two (2) years. All expenses of maintenance, operation and insurance shall be paid by Employer or reimbursed by Employer to Employee.

  • Compensation Plan As compensation for the Executive's services under this Agreement, Executive shall be entitled to receive during his employment the base salary and fringe benefits in accordance with this Section 3 and in accordance with the compensation plan fixed for each fiscal year of the Company, commencing with the current fiscal year, and bonuses in accordance with Section 4 and stock options in accordance with Section 5.

  • SERP Executive is a participant in the BB&T Corporation Non-Qualified Defined Benefit Plan (the “SERP”). The SERP was formerly known as the Branch Banking and Trust Company Supplemental Executive Retirement Plan. The SERP is a non-qualified, unfunded supplemental retirement plan which provides benefits to or on behalf of selected key management employees. The benefits provided under the SERP supplement the retirement and survivor benefits payable from the Pension Plan. Except in the event the employment of Executive is terminated by the Employer or BB&T for Just Cause and except in the event Executive terminates Executive’s employment for any reason other than Good Reason and such termination does not occur within twelve (12) months after a Change of Control (or, if later, within ninety (90) days after a MOE Revocation), the following special provisions shall apply for purposes of this Agreement:

  • Employee Stock Ownership Plan The Executive will be eligible to participate in the Company’s Employee Stock Ownership Plan (“ESOP”), subject to the terms and conditions of the ESOP.

  • Defined Contribution Plan A plan under which Employee accounts are maintained for each Participant to which all contributions, forfeitures, investment income and gains or losses, and expenses are credited or deducted. A Participant’s benefit under such plan is based solely on the fair market value of his or her account balance.

  • Retirement Plan Employee shall participate, after meeting eligibility requirements, in any qualified retirement plans and/or welfare plans maintained by the Company during the term of this Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.