Termination and Expiration of this Plan. This Plan may be ----------- --------------------------------------- abandoned, suspended, or terminated, in whole or in part, at any time by the Board; provided, however, that abandonment, suspension, or termination of this Plan shall not affect any Award theretofore made under this Plan. Unless sooner terminated, this Plan shall terminate at the close of business on the day that is the tenth (10th) anniversary of the date of approval of the Plan by the shareholders of the Corporation; and no Award of shares may be made under this Plan thereafter. Such termination shall not effect any Award of shares theretofore made. In the event that the Board terminates this Plan in whole, any shares held by the Trust which have not been allocated to eligible Participants, together with any other assets held by the Trust, shall revert to the Bank.
Appears in 4 contracts
Samples: Plan and Trust Agreement (Innes Street Financial Corp), Plan and Trust Agreement (Scotland Bancorp Inc), Home Savings (South Street Financial Corp)
