Wisconsin Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.

• Category: Corporations - Shareholders and Stock
• State: Multi-State
• Control #: US-CC-18-202D
• Format: Word; Rich Text

Description

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 Wisconsin Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a specific type of stock-based compensation plan and trust agreement implemented by Home Federal Savings and Loan Association in the state of Wisconsin. This agreement is designed to incentivize and reward key employees and directors of the organization, promoting their long-term commitment and aligning their interests with the company's growth and success. Within the Wisconsin Restricted Stock Plan and Trust Agreement, there may exist different types or variations, including: 1. Vesting Schedule: The agreement may include a vesting schedule that determines when the restricted stock units granted to employees or directors become fully owned by them. This schedule often spans several years and encourages participants to remain with the company for a specified period to unlock the full benefits of their restricted stock. 2. Performance Conditions: The plan may impose certain performance conditions that need to be met for the restricted stock to be fully vested. These conditions can be financial metrics, individual or team-based goals, or other objectives specifically tailored to the company's growth and strategy. 3. Tax Treatment: The Wisconsin Restricted Stock Plan and Trust Agreement may outline the tax treatment for participants, detailing any potential tax liabilities or benefits associated with the receipt, vesting, and eventual sale of the restricted stock. Compliance with relevant tax laws and regulations is crucial for both the company and the employees. 4. Trust Agreement: The trust component of the plan involves the creation of a trust by Home Federal Savings and Loan Assoc. The company contributes the restricted stock units to the trust on behalf of the eligible employees or directors. The trust assumes responsibility for managing and distributing the restricted stock units in accordance with the terms and conditions outlined in the agreement. 5. Forfeiture Provisions: The agreement might include forfeiture provisions to ensure that if participants violate certain employment terms, such as leaving the company before the vesting period ends or engaging in competitive activities, they may forfeit some or all of their restricted stock units. 6. Consent and Acknowledgment: The plan requires participants to provide written consent and acknowledgment of the terms and conditions of the Wisconsin Restricted Stock Plan and Trust Agreement, ensuring that they have understood and agreed to comply with all provisions outlined therein. In conclusion, the Wisconsin Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a comprehensive compensation program devised to motivate and engage employees and directors by offering them various benefits through restricted stock units. By aligning the interests of key individuals with the organization's success, this plan aims to foster long-term commitment, enhance performance, and drive sustainable growth.

Wisconsin Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a specific type of stock-based compensation plan and trust agreement implemented by Home Federal Savings and Loan Association in the state of Wisconsin. This agreement is designed to incentivize and reward key employees and directors of the organization, promoting their long-term commitment and aligning their interests with the company's growth and success. Within the Wisconsin Restricted Stock Plan and Trust Agreement, there may exist different types or variations, including: 1. Vesting Schedule: The agreement may include a vesting schedule that determines when the restricted stock units granted to employees or directors become fully owned by them. This schedule often spans several years and encourages participants to remain with the company for a specified period to unlock the full benefits of their restricted stock. 2. Performance Conditions: The plan may impose certain performance conditions that need to be met for the restricted stock to be fully vested. These conditions can be financial metrics, individual or team-based goals, or other objectives specifically tailored to the company's growth and strategy. 3. Tax Treatment: The Wisconsin Restricted Stock Plan and Trust Agreement may outline the tax treatment for participants, detailing any potential tax liabilities or benefits associated with the receipt, vesting, and eventual sale of the restricted stock. Compliance with relevant tax laws and regulations is crucial for both the company and the employees. 4. Trust Agreement: The trust component of the plan involves the creation of a trust by Home Federal Savings and Loan Assoc. The company contributes the restricted stock units to the trust on behalf of the eligible employees or directors. The trust assumes responsibility for managing and distributing the restricted stock units in accordance with the terms and conditions outlined in the agreement. 5. Forfeiture Provisions: The agreement might include forfeiture provisions to ensure that if participants violate certain employment terms, such as leaving the company before the vesting period ends or engaging in competitive activities, they may forfeit some or all of their restricted stock units. 6. Consent and Acknowledgment: The plan requires participants to provide written consent and acknowledgment of the terms and conditions of the Wisconsin Restricted Stock Plan and Trust Agreement, ensuring that they have understood and agreed to comply with all provisions outlined therein. In conclusion, the Wisconsin Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a comprehensive compensation program devised to motivate and engage employees and directors by offering them various benefits through restricted stock units. By aligning the interests of key individuals with the organization's success, this plan aims to foster long-term commitment, enhance performance, and drive sustainable growth.