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

• Category: Corporations - Shareholders and Stock
• State: Multi-State
• City: Houston
• 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 The Houston Texas Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a comprehensive program designed to incentivize and reward employees of Home Federal Savings and Loan Association by granting them restricted stock units (RSS) as part of their compensation package. This agreement establishes the terms and conditions under which the RSS are granted, vested, and eventually converted into shares of stock in Home Federal Savings and Loan Assoc. The plan is closely monitored and governed by the company's board of directors, ensuring fairness and adherence to applicable rules and regulations. The Houston Texas Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Offers several types of RSU grants, each serving distinct purposes: 1. Performance-Based RSS: This RSS is tied to predefined performance metrics and goals, such as achieving specific business targets or exceeding industry benchmarks. Employees must meet or exceed these objectives to earn the RSS. Performance-based RSS help align employee motivation with the company's overall success. 2. Time-Based RSS: Time-based RSS are granted based on an employee's length of service with the company and are typically subject to a vesting schedule. Vesting periods can range from several months to several years, with RSS becoming fully vested upon completion of the specified time period. This type of RSU grant encourages employee loyalty and long-term commitment. 3. Top Talent RSS: Reserved for exceptional performers and key executives, top-talent RSS are granted as a special recognition for outstanding contributions to the company's growth and success. This RSS often come with accelerated vesting schedules or enhanced benefits, reflecting the significant value these employees bring to the organization. 4. Acquisition RSS: In the event of a corporate merger, acquisition, or change in control, Home Federal Savings and Loan Assoc. May grant acquisition RSS to employees, ensuring retention and promoting continuity during the transitional period. This RSS often carry modified vesting terms tied to the outcome of the transaction, providing employees with a sense of stability and security during times of change. The Houston Texas Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Ensures that these RSU grants are administered in accordance with relevant laws, regulations, and internal guidelines. It outlines procedures for grant issuance, vesting schedule determination, tax implications, and provisions for adjustment in case of unforeseen circumstances. Through this comprehensive plan, Home Federal Savings and Loan Assoc. Aims to attract, motivate, and retain high-performing employees, aligning their interests with the long-term success and profitability of the company.

The Houston Texas Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a comprehensive program designed to incentivize and reward employees of Home Federal Savings and Loan Association by granting them restricted stock units (RSS) as part of their compensation package. This agreement establishes the terms and conditions under which the RSS are granted, vested, and eventually converted into shares of stock in Home Federal Savings and Loan Assoc. The plan is closely monitored and governed by the company's board of directors, ensuring fairness and adherence to applicable rules and regulations. The Houston Texas Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Offers several types of RSU grants, each serving distinct purposes: 1. Performance-Based RSS: This RSS is tied to predefined performance metrics and goals, such as achieving specific business targets or exceeding industry benchmarks. Employees must meet or exceed these objectives to earn the RSS. Performance-based RSS help align employee motivation with the company's overall success. 2. Time-Based RSS: Time-based RSS are granted based on an employee's length of service with the company and are typically subject to a vesting schedule. Vesting periods can range from several months to several years, with RSS becoming fully vested upon completion of the specified time period. This type of RSU grant encourages employee loyalty and long-term commitment. 3. Top Talent RSS: Reserved for exceptional performers and key executives, top-talent RSS are granted as a special recognition for outstanding contributions to the company's growth and success. This RSS often come with accelerated vesting schedules or enhanced benefits, reflecting the significant value these employees bring to the organization. 4. Acquisition RSS: In the event of a corporate merger, acquisition, or change in control, Home Federal Savings and Loan Assoc. May grant acquisition RSS to employees, ensuring retention and promoting continuity during the transitional period. This RSS often carry modified vesting terms tied to the outcome of the transaction, providing employees with a sense of stability and security during times of change. The Houston Texas Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Ensures that these RSU grants are administered in accordance with relevant laws, regulations, and internal guidelines. It outlines procedures for grant issuance, vesting schedule determination, tax implications, and provisions for adjustment in case of unforeseen circumstances. Through this comprehensive plan, Home Federal Savings and Loan Assoc. Aims to attract, motivate, and retain high-performing employees, aligning their interests with the long-term success and profitability of the company.