Los Angeles California Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc.

• Category: Corporations - Shareholders and Stock
• State: Multi-State
• County: Los Angeles
• 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 Los Angeles California Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a legal document that establishes a comprehensive framework for the management and administration of restricted stock plans within the organization. This agreement outlines the terms and conditions under which eligible participants within Home Federal Savings and Loan Assoc. Are granted restricted stock units (RSS) as a form of compensation or incentive. RSS represents a specific number of shares of the company's common stock, subject to certain restrictions. Key provisions within the Los Angeles California Restricted Stock Plan and Trust Agreement include the vesting schedule, which outlines the timeline and conditions under which the RSS become fully owned by the participants. This could be based on factors such as the completion of a specified period of continuous employment, achievement of performance goals, or other predetermined milestones. Moreover, the agreement outlines the restrictions placed on the RSS, typically involving a holding or lock-up period during which participants cannot sell, transfer, or dispose of the shares. These restrictions aim to align the interests of the participants with the long-term success of Home Federal Savings and Loan Assoc. In addition to the general restrictive provisions, the Los Angeles California Restricted Stock Plan and Trust Agreement may include specific clauses related to taxation, forfeiture events, change of control provisions, and treatment of RSS upon termination of employment, retirement, disability, or death. Different types of Los Angeles California Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Could include variations based on employee classification or level (e.g., executive RSU plans), different performance criteria, or customized vesting schedules according to the organization's specific objectives and policies. In summary, the Los Angeles California Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a legal document that establishes the terms and conditions for granting, managing, and distributing restricted stock units to eligible participants within the organization, ultimately aiming to incentivize and align their interests with the company's long-term success.

The Los Angeles California Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a legal document that establishes a comprehensive framework for the management and administration of restricted stock plans within the organization. This agreement outlines the terms and conditions under which eligible participants within Home Federal Savings and Loan Assoc. Are granted restricted stock units (RSS) as a form of compensation or incentive. RSS represents a specific number of shares of the company's common stock, subject to certain restrictions. Key provisions within the Los Angeles California Restricted Stock Plan and Trust Agreement include the vesting schedule, which outlines the timeline and conditions under which the RSS become fully owned by the participants. This could be based on factors such as the completion of a specified period of continuous employment, achievement of performance goals, or other predetermined milestones. Moreover, the agreement outlines the restrictions placed on the RSS, typically involving a holding or lock-up period during which participants cannot sell, transfer, or dispose of the shares. These restrictions aim to align the interests of the participants with the long-term success of Home Federal Savings and Loan Assoc. In addition to the general restrictive provisions, the Los Angeles California Restricted Stock Plan and Trust Agreement may include specific clauses related to taxation, forfeiture events, change of control provisions, and treatment of RSS upon termination of employment, retirement, disability, or death. Different types of Los Angeles California Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Could include variations based on employee classification or level (e.g., executive RSU plans), different performance criteria, or customized vesting schedules according to the organization's specific objectives and policies. In summary, the Los Angeles California Restricted Stock Plan and Trust Agreement of Home Federal Savings and Loan Assoc. Is a legal document that establishes the terms and conditions for granting, managing, and distributing restricted stock units to eligible participants within the organization, ultimately aiming to incentivize and align their interests with the company's long-term success.