18-202D 18-202D . . . Restricted Stock Plan and Trust Agreement for federal savings and loan association ("corporation") under which (a) corporation will contribute funds to Restricted Stock Plan ("Plan") and Plan will (i) purchase common stock in open market or (ii) purchase authorized but unissued shares of common stock from corporation, and (b) committee of Board of Directors can grant Restricted Stock Awards to directors, officers and key employees, Twenty percent of such Awards are earned and become non-forfeitable on one-year anniversary of date of grant and an additional 20% are earned and become non-forfeitable annually thereafter; provided that recipient of Award remains an employee or director of corporation during such period. Dividends paid on Restricted Stock Awards are held in arrears and distributed on date such applicable Restricted Stock Awards are earned
Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.
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Trust Agreement Loan Sample FAQ
A restrictive covenant, also known as a negative covenant, is any type of agreement in a contract or obligation that restricts the buyer from taking some action or requires they abstain from a specific action.These covenants can be simple or complex and can levy penalties against buyers who fail to obey them.
Certain restrictive covenants will be enforceable, if you are able to prove that they are: reasonable. necessary to protect legitimate business interests; and. of a duration no longer than is necessary to protect those interests.
A restrictive covenant is a clause in an employment contract or services agreement that works to prohibit an individual from (among other things) competing with his or her ex-employer for a certain period after he or she has left the business.
In legal and financial terminology, a covenant is a promise in an indenture, or any other formal debt agreement, that certain activities will or will not be carried out or that certain thresholds will be met.
A covenant, in its most general sense and historical sense, is a solemn promise to engage in or refrain from a specified action.In real property law, the juristic term real covenants means conditions tied to the ownership or use of land.
A formal agreement or promise, usually included in a contract or deed, to do or not do a particular act; a compact or stipulation made in writing or by parol.
What Is The Purpose Of Restrictive Covenants? Restrictive covenants can offer benefits to homeowners. Restrictive covenants enforce a standard of uniformity across a development. These covenants stop your neighbors from letting their homes fall into decay and lowering your property values.
What Is A Restrictive Covenant? A restrictive covenant creates a deed restricted community. It is an agreement that states what a homeowner can or cannot do with their house or land.
A restrictive covenant is an agreement that restricts a company or other party to a contract from engaging in certain actions. For example, a restrictive covenant entered into with a public company might limit the amount of dividends the firm can pay its shareholders.