Kings New York Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.

• Category: Corporations - Shareholders and Stock
• State: Multi-State
• County: Kings
• 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 Kings New York Restricted Stock Plan (RSP) and Trust Agreement is a comprehensive program established by Home Federal Savings and Loan Assoc. To incentivize and reward select employees with restricted stock units (RSS) and ensure its effective administration. This agreement outlines the terms and conditions under which the RSS are granted, vested, and distributed to eligible employees, promoting long-term commitment and alignment of interests between employees and the organization. As part of the Kings New York Restricted Stock Plan, employees are granted a predetermined number of RSS, subject to certain restrictions and conditions. This RSS represents a future right to own a specified number of the company's shares. The grant of RSS serves as a retention tool, as they typically vest over a designated period, encouraging employees to remain with the company to enjoy the full benefits of ownership. The Trust Agreement plays a critical role in facilitating the implementation and management of the Kings New York Restricted Stock Plan. Home Federal Savings and Loan Assoc. Establishes a trust, which serves as the holder of the RSS on behalf of the participants. The trust provides a secure framework, ensuring that the RSS are managed and distributed in accordance with the plan's provisions. The Kings New York Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Grants participants various advantages. Firstly, it allows employees to become partial shareholders, aligning their interests with the long-term success and growth of the organization. Additionally, participants may also benefit from any dividends or other distributions associated with the underlying shares. However, certain restrictions may apply until the RSS fully vest, ensuring the continued commitment of employees and protecting the organization's interests. Different types of Kings New York Restricted Stock Plan and Trust Agreements may exist within Home Federal Savings and Loan Assoc. These variations could stem from the eligibility criteria, vesting schedules, or specific terms associated with the RSU grants. However, the core purpose remains the same — to provide employees with an opportunity to acquire ownership in the company, fostering loyalty and motivation. In conclusion, the Kings New York Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a robust program designed to reward and retain valuable employees through the allocation of restricted stock units. With a trust established to safeguard the RSS and ensure their fair distribution, employees are encouraged to contribute to the organization's long-term success while reaping the benefits of ownership.

Kings New York Restricted Stock Plan (RSP) and Trust Agreement is a comprehensive program established by Home Federal Savings and Loan Assoc. To incentivize and reward select employees with restricted stock units (RSS) and ensure its effective administration. This agreement outlines the terms and conditions under which the RSS are granted, vested, and distributed to eligible employees, promoting long-term commitment and alignment of interests between employees and the organization. As part of the Kings New York Restricted Stock Plan, employees are granted a predetermined number of RSS, subject to certain restrictions and conditions. This RSS represents a future right to own a specified number of the company's shares. The grant of RSS serves as a retention tool, as they typically vest over a designated period, encouraging employees to remain with the company to enjoy the full benefits of ownership. The Trust Agreement plays a critical role in facilitating the implementation and management of the Kings New York Restricted Stock Plan. Home Federal Savings and Loan Assoc. Establishes a trust, which serves as the holder of the RSS on behalf of the participants. The trust provides a secure framework, ensuring that the RSS are managed and distributed in accordance with the plan's provisions. The Kings New York Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Grants participants various advantages. Firstly, it allows employees to become partial shareholders, aligning their interests with the long-term success and growth of the organization. Additionally, participants may also benefit from any dividends or other distributions associated with the underlying shares. However, certain restrictions may apply until the RSS fully vest, ensuring the continued commitment of employees and protecting the organization's interests. Different types of Kings New York Restricted Stock Plan and Trust Agreements may exist within Home Federal Savings and Loan Assoc. These variations could stem from the eligibility criteria, vesting schedules, or specific terms associated with the RSU grants. However, the core purpose remains the same — to provide employees with an opportunity to acquire ownership in the company, fostering loyalty and motivation. In conclusion, the Kings New York Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a robust program designed to reward and retain valuable employees through the allocation of restricted stock units. With a trust established to safeguard the RSS and ensure their fair distribution, employees are encouraged to contribute to the organization's long-term success while reaping the benefits of ownership.