Stock Option and Other Plans. At the Effective Time, all outstanding options under the Bank’s existing stock option plans (“Plans”) shall be converted into options to acquire the number of shares of common stock of the Holding Company that the holders of such options were entitled to acquire of Bank Stock immediately prior to the Exchange on the same terms and conditions as set forth in the Plans.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization and Share Exchange (New Century Bancorp Inc), Agreement and Plan of Reorganization and Share Exchange (United Financial Inc)
Stock Option and Other Plans. At the Effective Time, all outstanding options under the Bank’s 's existing stock option plans (“"Plans”") shall be converted into options to acquire the number of shares of common stock of the Holding Company that the holders of such options were entitled to acquire of Bank Stock immediately prior to the Exchange on the same terms and conditions as set forth in the Plans.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization and Share Exchange (Carolina Bank Holdings Inc), Agreement and Plan of Reorganization and Share Exchange (Crescent Financial Corp)
Stock Option and Other Plans. At the Effective Time, all outstanding options under the Bank’s existing stock option plans (“Plans”) shall be converted into options to acquire the number of shares of common stock of the Holding Company that the holders of such options were entitled to acquire of Bank Stock immediately prior to the Exchange on substantially the same terms and conditions as set forth in the Plans.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization and Share Exchange (AB&T Financial CORP)
Stock Option and Other Plans. At the Effective Time, all outstanding options under the Bank’s 's existing stock option plans (“"Plans”") shall be converted into options to acquire the number of shares of common stock of the Holding Company that the holders of such options were entitled to acquire of Bank Stock immediately prior to the Exchange on the same terms and conditions as set forth in the Plansplans.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization and Share Exchange (American Community Bancshares Inc)
