Restricted Stock Plan. CoBancorp has adopted and maintains the Restricted Stock Plan ("Restricted Stock Plan") for three executive officers. CoBancorp represents that as of the date of this Agreement it has issued a total of 4,500 shares of CoBancorp Common Stock under such Restricted Stock Plan, that it will not amend or make any changes to the terms or conditions of such Plan, nor will it grant any additional shares or rights under such Plan. Prior to the Effective Time, the Board of Directors of CoBancorp shall by resolution cause the immediate vesting of all outstanding shares of restricted stock under the Plan.
Appears in 3 contracts
Sources: Agreement of Affiliation and Plan of Merger (Firstmerit Corp), Merger Agreement (Firstmerit Corp), Agreement of Affiliation and Plan of Merger (Cobancorp Inc)