Treatment of Restricted Stock. At the Effective Time, the restrictions on each share of restricted stock outstanding immediately prior thereto (“Company Restricted Stock”) pursuant to the Company Equity Plans shall automatically lapse and shall be treated as issued and outstanding shares of Company Common Stock for the purposes of this Agreement, including but not limited to, the provisions of Section 2.5.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (New England Bancshares, Inc.), Agreement and Plan of Merger (United Financial Bancorp, Inc.)
Treatment of Restricted Stock. At the Effective Time, the any vesting restrictions on each share of restricted stock outstanding immediately prior thereto (“Company Restricted Stock”) pursuant to the Company Equity Plans shall automatically lapse and shall be treated as issued and outstanding shares of Company Common Stock for the purposes of this Agreement, including but not limited to, the provisions of Section 2.5.
Appears in 2 contracts
Samples: Voting Agreement (Kearny Financial Corp.), Voting Agreement (Clifton Bancorp Inc.)
Treatment of Restricted Stock. At the Effective Time, the any vesting restrictions on each share of restricted stock outstanding immediately prior thereto (“Company Restricted Stock”) pursuant to the Company Equity Plans shall automatically lapse and shall be treated as issued and outstanding shares of Company Common Stock for the purposes of this Agreement, including but not limited to, the provisions of Section 2.5. Notwithstanding anything herein to the contrary, the Company may withhold a sufficient amount of Merger Consideration necessary to satisfy the tax withholding requirements associated with such vesting of Company Restricted Stock.
Appears in 1 contract
Treatment of Restricted Stock. At the Effective Time, the any vesting restrictions on each share of restricted stock outstanding immediately prior thereto (“Company Restricted Stock”) pursuant to the Company Equity Plans Plan shall automatically lapse and shall be treated as issued and outstanding shares of Company Common Stock for the purposes of this Agreement, including but not limited to, the provisions of Section 2.5. Purchaser shall use reasonable best efforts to ensure Purchaser’s transfer agent will permit holders of Company Restricted Stock to satisfy their tax withholding obligations for the Company Restricted Stock via net settlement.
Appears in 1 contract
Treatment of Restricted Stock. At the Effective Time, the restrictions on each share of restricted stock outstanding immediately prior thereto (“Company Restricted Stock”) pursuant to the Company Equity Plans Plan shall automatically lapse and shall be treated as issued and outstanding shares of Company Common Stock for the purposes of this Agreement, including but not limited to, the provisions of Section 2.5.
Appears in 1 contract
Samples: Agreement and Plan of Merger (SI Financial Group, Inc.)
