Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances: (a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability. (b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability. (c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 Plan) may exercise your Option. (d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 6 contracts
Samples: Restricted Stock Award Agreement (CNB Financial Corp.), Non Statutory Stock Option Award Agreement (Beneficial Mutual Bancorp Inc), Non Statutory Stock Option Award Agreement (Delanco Bancorp, Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2007 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 6 contracts
Samples: Non Statutory Stock Option Award Agreement (Polonia Bancorp), Non Statutory Stock Option Award Agreement (Fox Chase Bancorp Inc), Non Statutory Stock Option Award Agreement (Sugar Creek Financial Corp)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2012 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 4 contracts
Samples: Restricted Stock Award Agreement (ASB Bancorp Inc), Restricted Stock Award Agreement (Eureka Financial Corp.), Restricted Stock Award Agreement (SI Financial Group, Inc.)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 4 contracts
Samples: Incentive Stock Option Award Agreement (First South Bancorp Inc /Va/), Incentive Stock Option Award Agreement (First Advantage Bancorp), Restricted Stock Award Agreement (PVF Capital Corp)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2012 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 4 contracts
Samples: Restricted Stock Award Agreement (ASB Bancorp Inc), Restricted Stock Award Agreement (Eureka Financial Corp.), Restricted Stock Award Agreement (SI Financial Group, Inc.)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2007 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 4 contracts
Samples: Incentive Stock Option Award Agreement (Chicopee Bancorp, Inc.), Incentive Stock Option Award Agreement (Newport Bancorp Inc), Non Statutory Stock Option Award Agreement (Liberty Bancorp Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2010 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 3 contracts
Samples: Restricted Stock Award Agreement (Athens Bancshares Corp), Incentive Stock Option Award Agreement (Ocean Shore Holding Co.), Restricted Stock Award Agreement (First Savings Financial Group Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2010 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 3 contracts
Samples: Restricted Stock Award Agreement (Athens Bancshares Corp), Non Statutory Stock Option Award Agreement (Ocean Shore Holding Co.), Restricted Stock Award Agreement (First Savings Financial Group Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2011 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 2 contracts
Samples: Restricted Stock Award Agreement (Fox Chase Bancorp Inc), Non Statutory Stock Option Award Agreement (FedFirst Financial Corp)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2014 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 2 contracts
Samples: Incentive Stock Option Agreement (United Community Bancorp), Non Statutory Stock Option Award Agreement (United Community Bancorp)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2011 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 2 contracts
Samples: Restricted Stock Award Agreement (Fox Chase Bancorp Inc), Incentive Stock Option Award Agreement (FedFirst Financial Corp)
Term of Options and Limitations on Right to Exercise. The term of the Option Options will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option Options will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your the Participant's Continuous Status as a Participant for any reason other than your by reason of the Participant's death or Disability.
(b) Twelve (12) months after termination of your the Participant's Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your the Participant's death, if you die the Participant dies while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would Options otherwise lapse. Upon your the Participant's death, your the Options may be exercised by the Participant's beneficiary (designated pursuant to the terms of the 2008 2006 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your the Participant's employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option the Options under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option the Options as determined by the Committee in writing and subject to federal regulations. If you return the Participant returns to employment with the Company during the designated post-termination exercise period, then you will the Participant shall be restored to the status as a the Participant you held prior to such termination, termination but no vesting credit will be earned for any period you were the Participant was not in Continuous Status as a Participant. If you the Participant or your his or her beneficiary exercises an Option after your termination of service, the Option Options may be exercised only with respect to the Shares that were otherwise vested on the date of your Participant's termination of service.
Appears in 2 contracts
Samples: Restricted Stock Award Agreement (FedFirst Financial CORP), Incentive Stock Option Award Agreement (Provident Community Bancshares, Inc.)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2009 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 2 contracts
Samples: Restricted Stock Award Agreement (First Capital Inc), Restricted Stock Award Agreement (North Penn Bancorp Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2009 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 2 contracts
Samples: Restricted Stock Award Agreement (First Capital Inc), Restricted Stock Award Agreement (North Penn Bancorp Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant Separation from Service for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant Separation from Service by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2011 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company Bank during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participantan employment or service relationship with the Bank. If you or your beneficiary exercises an Option after your termination of serviceSeparation from Service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of serviceSeparation from Service.
Appears in 2 contracts
Samples: Incentive Stock Option Award Agreement (Cordia Bancorp Inc), Non Statutory Stock Option Award Agreement (Cordia Bancorp Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than by reason of your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2005 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. Options exercised after three (3) months from your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Incentive Stock Option Award Agreement (Kentucky First Federal Bancorp)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2013 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated other than for “cause” (as determined by the Committee) within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (Polonia Bancorp Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2011 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated other than for “cause” (as determined by the Committee) within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (Madison Bancorp Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2012 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated other than for “cause” (as determined by the Committee) within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (Wellesley Bancorp, Inc.)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than by reason of your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2005 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Non Statutory Stock Option Award Agreement (Kentucky First Federal Bancorp)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2009 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated other than for "cause" (as determined by the Committee) within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Compensation Committee of the Board of Directors (the "Committee") may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (BCSB Bancorp Inc.)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employedemployed or in service with the Company, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2013 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment or service is involuntarily or constructively terminated other than for “cause” (as determined by the Committee) within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment or service with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (Polonia Bancorp Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2010 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated other than for “cause” (as determined by the Committee) within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (Mayflower Bancorp Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2006 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Non Statutory Stock Option Award Agreement (United Community Bancorp)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2007 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-post- termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Incentive Stock Option Award Agreement (Fox Chase Bancorp Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2006 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option Option, if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. Options exercised more than three (3) months after your termination date will be treated as Non-Statutory Stock Options for tax purposes. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant that you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of 4 service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Incentive Stock Option Award Agreement (United Community Bancorp)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2012 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated other than for “cause” (as determined by the Committee) within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (Fraternity Community Bancorp Inc)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2006 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated other than for “cause” (as determined by the Committee) within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (Pulaski Financial Corp)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "Expiration Date"). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2009 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated other than for "cause" (as determined by the Committee) within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (BCSB Bancorp Inc.)
Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the "“Expiration Date"”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances:
(a) Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability.
(b) Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability.
(c) Twelve (12) months after the date of your death, if you die while employedemployed or in service with the Company, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection (b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2008 2012 Plan) may exercise your Option.
(d) At the end of the remaining original term of the Option if your employment or service is involuntarily or constructively terminated other than for “cause” (as determined by the Committee) within twelve (12) months of a Change in Control. The Committee may, prior to the lapse of your Option under the circumstances described in paragraphs (a), (b), (c) or (d) above, extend the time to exercise your Option as determined by the Committee in writing and subject to federal regulations. If you return to employment or service with the Company during the designated post-termination exercise period, then you will be restored to the status as a Participant you held prior to such termination, but no vesting credit will be earned for any period you were not in Continuous Status as a Participant. If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares that were otherwise vested on the date of your termination of service.
Appears in 1 contract
Samples: Restricted Stock Award Agreement (Wellesley Bancorp, Inc.)