Common use of Effect of Lapse of Restrictions Clause in Contracts

Effect of Lapse of Restrictions. Upon the lapse of the Forfeiture Restrictions with respect to Shares granted hereby the Company shall cause to be delivered to the Employee a stock certificate representing such Shares, and such Shares shall be transferable by the Employee (except to the extent that any proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of applicable securities law).

Effect of Lapse of Restrictions. Upon the lapse of the Forfeiture Restrictions with respect to Shares granted hereby the Company shall cause to be delivered to the Employee Executive a stock certificate representing such Shares, and such Shares shall be transferable by the Employee Executive (except to the extent that any proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of applicable securities law).

Effect of Lapse of Restrictions. Upon the lapse of the Forfeiture Restrictions with respect to Shares granted hereby the Company shall cause to be delivered to the Employee Director a stock certificate representing such Shares, and such Shares shall be transferable by the Employee Director (except to the extent that any proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of applicable securities law).

Effect of Lapse of Restrictions. Upon the lapse of the Forfeiture Restrictions with respect to Shares a Performance Stock Share granted hereby the Company shall cause to be delivered to the Employee Executive a stock certificate representing such SharesPerformance Stock Share, and such Shares Performance Stock Share shall be transferable by the Employee Executive (except to the extent that any proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of applicable securities law).