Form of Allocation. Promptly after making a Plan Share Award, the Compensation Committee shall notify the Recipient in writing of the grant of the Plan Share Award, the number of Plan Shares covered by the Plan Share Award, and the terms upon which the Plan Shares subject to the Plan Share Award may be earned. The date on which the Compensation Committee so notifies the Recipient shall be considered the date of grant of the Plan Share Awards. The Compensation Committee shall maintain records as to all grants of Plan Share Awards under the Plan.
Appears in 2 contracts
Sources: Management Recognition Plan and Trust Agreement (Mercer Insurance Group Inc), Management Recognition Plan and Trust Agreement (Old Guard Group Inc)
Form of Allocation. Promptly As promptly as practicable after making a Plan Share AwardAward is to be issued, the Compensation Committee shall notify the Recipient in writing of the grant of the Plan Share Award, the number of Plan Shares covered by the Plan Share Award, and the terms upon which the Plan Shares subject to the Plan Share Award may shall be earneddistributed to the Recipient. Such terms shall be reflected in a written agreement with the Recipient. The date on which the Compensation Committee so notifies the Recipient shall be considered the date of grant of the Plan Share AwardsAward. The Compensation Committee shall maintain records as to all grants of Plan Share Awards under the Plan.
Appears in 2 contracts
Sources: Recognition and Retention Plan for Directors and Trust Agreement (Esb Financial Corp), Recognition and Retention Plan for Directors and Trust Agreement (Esb Financial Corp)