Allocations Not Required. Notwithstanding anything to the contrary at Sections 6.01, 6.02 or 6.05, no Eligible Participant shall have any right or entitlement to receive a Plan Share Award hereunder, such Awards being at the sole discretion of the Committee and the Board, nor shall the Eligible Participant as a group have such a right. The Committee may, with the approval of the Board (or, if so directed by the Board) return all Common Stock in the Plan Share Reserve to the Bank at any time, and cease issuing Plan Share Awards.
Appears in 5 contracts
Sources: Restricted Stock Plan and Trust Agreement (Osage Federal Financial Inc), Restricted Stock Plan and Trust Agreement (Roebling Financial Corp, Inc.), Restricted Stock Plan and Trust Agreement (American Bancorp of New Jersey Inc)
Allocations Not Required. Notwithstanding anything to the contrary at Sections 6.01, 6.02 or 6.05, no Eligible Participant shall have any right or entitlement to receive a Plan Share Award hereunder, such Awards being at the sole discretion of the Committee and the Board, nor shall the Eligible Participant Participants as a group have such a right. The Committee may, with the approval of the Board (or, if so directed by the Board) return all Common Stock in the Plan Share Reserve to the Bank at any time, and cease issuing Plan Share Awards.
Appears in 2 contracts
Sources: Stock Bonus Plan and Trust Agreement (Wells Financial Corp), Stock Bonus Plan and Trust Agreement (Wells Financial Corp)
Allocations Not Required. Notwithstanding anything to the contrary at Sections 6.01, 6.02 or 6.05, no Eligible Participant Participants shall have any right or entitlement to receive a Plan Share Award hereunder, such Awards being at the sole discretion of the Committee and the Board, nor shall the Eligible Participant Participants as a group have such a right. The Committee may, with the approval of the Board (or, if so directed by the Board) return all Common Stock in the Plan Share Reserve to the Bank Company at any time, and cease issuing Plan Share Awards.
Appears in 2 contracts
Sources: Restricted Stock Plan and Trust Agreement (Community First Bancorp Inc), Restricted Stock Plan and Trust Agreement (Community First Bancorp Inc)
Allocations Not Required. Notwithstanding anything to the contrary at Sections 6.01, 6.02 or 6.05, no Eligible Participant shall have any right or entitlement to receive a Plan Share Award hereunder, such Awards being at the sole discretion of the Committee and the Board, nor shall the Eligible Participant as a group have such a right. The Committee may, with the approval of the Board (or, if so directed by the Board) return all Common Stock in the Plan Share Reserve to the Bank Company at any time, and cease issuing Plan Share Awards.
Appears in 1 contract
Sources: Restricted Stock Plan and Trust Agreement (Synergy Financial Group Inc /Nj/)
Allocations Not Required. Notwithstanding anything to the contrary at Sections 6.01, 6.02 6.01 or 6.056.02, no Eligible Participant shall have any right or entitlement to receive a Plan Share Award hereunder, such Awards being at the sole discretion of the Committee and the Board, nor shall the Eligible Participant Participants, as a group have such a right. The Committee may, with the approval of the Board (or, if so directed by the Board) return all Common Stock in the Plan Share Reserve to the Bank at any time, and cease issuing Plan Share Awards.
Appears in 1 contract
Sources: Restricted Stock Plan and Trust Agreement (Se Financial Corp)