Amount and Timing of Contributions. The Association shall be permitted to contribute to the Trust an amount sufficient to purchase up to 4% of the shares of Common Stock issued by the Holding Company in connection with the Conversion. Such amounts shall be paid to the Trustee no later than the date required to purchase shares of Common Stock for Awards made under this Plan. No contributions by Employees or Outside Directors shall be permitted.
Appears in 3 contracts
Sources: Recognition and Retention Plan and Trust Agreement (Union Community Bancorp), Recognition and Retention Plan and Trust Agreement (Union Community Bancorp), Recognition and Retention Plan and Trust Agreement (Union Community Bancorp)
Amount and Timing of Contributions. The Association Affiliates shall be permitted to contribute to the Trust an amount sufficient to purchase up to 4% of the shares of Common Stock issued by the Holding Company in connection with the Conversion. Such amounts shall be paid to the Trustee no later than the date required to purchase shares of Common Stock for Awards made under this Plan. No contributions by Employees or Outside Directors shall be permitted.
Appears in 3 contracts
Sources: Recognition and Retention Plan and Trust (River Valley Bancorp), Recognition and Retention Plan and Trust (River Valley Bancorp), Recognition and Retention Plan and Trust (River Valley Bancorp)
Amount and Timing of Contributions. The Association Bank shall be permitted to contribute to the Trust an amount sufficient to purchase up to 4% of the shares of Common Stock issued by the Holding Company in connection with the Conversion. Such amounts shall be paid to the Trustee no later than the date required to purchase shares of Common Stock for Awards made under this Plan. No contributions by Employees or Outside Directors shall be permitted.
Appears in 2 contracts
Sources: Recognition and Retention Plan and Trust Agreement (Citizens Bancorp), Recognition and Retention Plan and Trust Agreement (Citizens Bancorp)
Amount and Timing of Contributions. The Association shall be permitted to contribute to the Trust an amount sufficient to purchase up to 4% of the shares of Common Stock issued by the Holding Company in connection with the Conversion (including any shares issued at the time of the Conversion to the private foundation being created in connection with the Conversion). Such amounts shall be paid to the Trustee no later than the date required to purchase shares of Common Stock for Awards made under this Plan. No contributions by Employees or Outside Directors shall be permitted.
Appears in 1 contract
Sources: Recognition and Retention Plan and Trust Agreement (City Savings Financial Corp)