STOCK COMPENSATION PLANS. The Holding Company and the Bank are authorized to adopt stock option plans, restricted stock grant plans and other Non-Tax-Qualified Employee Stock Benefit Plans, provided that no stock options shall be granted, and no shares of Conversion Stock shall be purchased, pursuant to any of such plans prior to the earlier of (i) the one-year anniversary of the consummation of the Conversion and Reorganization or (ii) the receipt of shareholder approval of such plans at either an annual or special meeting of shareholders of the Holding Company held no earlier than six months following the Conversion and Reorganization. The Holding Company and the Bank are authorized to enter into employment or severance agreements with their executive officers.
Appears in 6 contracts
Samples: Agreement and Plan of Reorganization (Rome Bancorp Inc), Plan of Merger (Rome Bancorp Inc), Agreement and Plan of Reorganization (Rome Bancorp Inc)
