Award Restrictions. The Award Shares shall be nontransferable and subject to forfeiture until such shares vest in accordance with the provisions set forth below. Subject to Section 4 of this Agreement, the Award Shares shall become vested in three installments at the end of three periods of time (each, a "restriction period"), if the Award Recipient shall have been continuously employed by the Company and its affiliate, Mercantile-Safe Deposit and Trust Company ("Merc-Safe") throughout the applicable restriction period. The number of Award Shares which may become vested in each installment, and the applicable restriction periods, are set forth below.
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Samples: Restricted Stock Award Agreement (Mercantile Bankshares Corp), Restricted Stock Award Agreement (Mercantile Bankshares Corp), Restricted Stock Award Agreement (Mercantile Bankshares Corp)
Award Restrictions. The Award Shares shall be nontransferable and subject to forfeiture until such shares vest in accordance with the provisions set forth below. Subject to Section 4 of this Agreement, the Award Shares shall become fully vested in three installments at the end of three periods of time the three-year period ending (each, a "the βrestriction period"β), if the Award Recipient shall have been continuously employed by the Company and its affiliate, Mercantile-Safe Deposit and Trust Company ("Merc-Safe") throughout the applicable restriction period. The number of Award Shares which may become vested in each installment, and the applicable restriction periods, are set forth below.such restriction
Appears in 1 contract
Samples: Restricted Stock Award Agreement (Mercantile Bankshares Corp)
