Common use of Custody of Restricted Stock Clause in Contracts

Custody of Restricted Stock. The Shares granted hereunder may be evidenced in such manner as the Company shall determine. The Shares may be held, along with any stock dividends and other non-cash distributions relating thereto, in custody by the Company or an agent for the Company until it shall become vested. If any certificates are issued for the Shares, the certificates will bear an appropriate legend as determined by the Company referring to the applicable restrictions. Upon the vesting of the Shares pursuant to the terms hereof and the satisfaction of any withholding tax obligations described below, the Recipient will receive vested shares of Common Stock.

Appears in 4 contracts

Samples: Restricted Stock Agreement (Digital Ally, Inc.), Restricted Stock Agreement (Digital Ally, Inc.), Restricted Stock Agreement (Digital Ally, Inc.)

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Custody of Restricted Stock. The Shares Restricted Stock granted hereunder may be evidenced in such manner as the Company shall determine. The Shares Restricted Stock may be held, along with any stock dividends and other non-cash distributions relating thereto, in custody by the Company or an agent for the Company until it shall become vested. If any certificates are issued for the SharesRestricted Stock, the certificates will bear an appropriate a legend as determined by the Company referring to the applicable restrictionsdescribed in Section 9, below. Upon the vesting of the Shares Restricted Stock pursuant to the terms hereof and the satisfaction of any withholding tax obligations described belowobligations, the Recipient Participant will receive vested shares of Common Stock.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Westell Technologies Inc)

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