Timing of Distributions. General Rule. Except as provided in Subsections (d) and (e) below, Plan Shares shall be distributed to the Participant or his Beneficiary, as the case may be, as soon as practicable after they have been earned. No fractional shares shall be distributed. Notwithstanding anything herein to the contrary, at the discretion of the Committee, Plan Shares may be distributed prior to such Shares being 100% earned, provided that such Plan Shares shall contain a restrictive legend detailing the applicable limitations of such shares with respect to transfer and forfeiture.
Appears in 31 contracts
Samples: Restricted Stock Plan and Trust Agreement (Guaranty Federal Bancshares Inc), Restricted Stock Plan and Trust Agreement (Esb Financial Corp), Restricted Stock Plan and Trust Agreement (Floridafirst Bancorp Inc)
Timing of Distributions. General Rule. Except as provided in Subsections (d) and (e) below, Plan Shares shall be distributed to the Participant Recipient or his Beneficiary, as the case may be, as soon as practicable after they have been earned. No fractional shares shall be distributed. Notwithstanding anything herein to the contrary, at the discretion of the Committee, Plan Shares may be distributed prior to such Shares being 100% earned, provided that such Plan Shares shall contain a restrictive legend detailing the applicable limitations of such shares with respect to transfer and forfeiture.
Appears in 4 contracts
Samples: Management Stock Bonus Plan and Trust Agreement (Thistle Group Holdings Co), Management Stock Bonus Plan and Trust Agreement (NCF Financial Corp /De/), Management Recognition Plan and Trust Agreement (First Colorado Bancorp Inc)
Timing of Distributions. General Rule. Except as provided in Subsections (d) and (e) below, Plan Shares shall be distributed to the Participant Recipient or his Beneficiary, as the case may be, as soon as practicable after they have been earned. No fractional shares shall be distributed. Notwithstanding anything herein to the contrary, at the discretion of the Committee, Plan Shares may be distributed prior to such Shares shares being 100% earned, provided that such Plan Shares shall contain a restrictive legend detailing the applicable limitations of such shares with respect to transfer and forfeiture.
Appears in 4 contracts
Samples: Management Stock Bonus Plan and Trust Agreement (Guthrie Savings Inc), Management Stock Bonus Plan and Trust Agreement (GFSB Bancorp Inc), Management Stock Bonus Plan and Trust Agreement (Beckley Bancorp Inc)
Timing of Distributions. General RuleGENERAL RULE. Except as provided in Subsections (d) and (e) below, Plan Shares shall be distributed to the Participant or his Beneficiary, as the case may be, as soon as practicable after they have been earned. No fractional shares shall be distributed. Notwithstanding anything herein to the contrary, at the discretion of the Committee, Plan Shares may be distributed prior to such Shares being 100% earned, provided that such Plan Shares shall contain a restrictive legend detailing the applicable limitations of such shares with respect to transfer and forfeiture.
Appears in 2 contracts
Samples: Restricted Stock Plan and Trust Agreement (Roebling Financial Corp, Inc.), Restricted Stock Plan and Trust Agreement (Roebling Financial Corp, Inc.)
Timing of Distributions. General Rule. Except as provided in Subsections (d) and (e) below, Plan Shares shall be distributed to the Participant Recipient or his Beneficiary, as the case may be, as soon as practicable after they have been earned. No fractional shares shall be distributed. Notwithstanding anything herein to the contrary, at the discretion of the Committee, Plan Shares may be distributed prior to such Shares being 100% earned, provided that such Plan Shares shall contain a restrictive legend detailing the applicable limitations of such shares with respect to transfer and forfeiture.
Appears in 1 contract
Samples: Management Stock Bonus Plan and Trust Agreement (First Colorado Bancorp Inc)
