Common use of Escrow of Shares Clause in Contracts

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 12 contracts

Samples: Employment Agreement (Realpage Inc), Global Restricted Stock Award Agreement (Pacific Biosciences of California, Inc.), Employment Agreement (Realpage Inc)

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Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 11 contracts

Samples: Restricted Stock Agreement (Intevac Inc), Restricted Stock Award Agreement (Yext, Inc.), Restricted Stock Agreement (Ameriquest, Inc.)

Escrow of Shares. (a) All To ensure the availability for delivery of Participant’s Unreleased Shares upon exercise of Restricted Stock the Repurchase Option by the Company, Participant will, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”)) the share certificates representing the Unreleased Shares, together with the Assignment Separate from Certificate (the “Stock Assignment”) duly endorsed in blank, attached hereto as Exhibit B-1. The Unreleased Shares of Restricted and Stock will Assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Participant attached as Exhibit B-2 hereto, until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderCompany’s Repurchase Option expires. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Companysuch transfer. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Unreleased Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following has been released from such Repurchase Option, upon Participant’s request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or Participant, as the case may be. (e) Subject to the terms hereof, Participant will shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cashmerger, Sharesreorganization, other securities, or other property)consolidation, recapitalization, separation, liquidation, stock split, reverse stock split, reorganization, merger, consolidationdividend, split-up, spin-off, share combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the SharesCommon Stock, the Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will shall in his or her capacity as owner of unvested Unreleased Shares of Restricted Stock that have been awarded to him or her be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will shall thereupon be considered to be unvested Shares of Restricted Stock “Unreleased Shares” and will shall be subject to all of the conditions and restrictions which were applicable to the unvested Unreleased Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted StockUnreleased Shares, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will shall be considered to be unvested Unreleased Shares of Restricted Stock and will shall be subject to all of the conditions and restrictions which were applicable to the unvested Unreleased Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 10 contracts

Samples: Stock Option Agreement (Capitol Investment Corp. V), Restricted Stock Purchase Agreement (Verrica Pharmaceuticals Inc.), Restricted Stock Purchase Agreement (Ovid Therapeutics Inc.)

Escrow of Shares. (a) All Certificates evidencing the Awarded Shares of Restricted Stock will, upon execution of issued under this Award Agreement, Agreement shall be delivered and deposited with an held in escrow holder designated by the Secretary of the Company or his or her designee (the “Escrow Holder”). The ) (or, if the Awarded Shares are not certificated, shall be entered in the stock record books of Restricted Stock will be the Company as held in escrow by the Escrow Holder Holder) until such time Awarded Shares are vested in accordance with Section 2, at which time, the Escrow Holder shall deliver such certificates representing the Awarded Shares to the Grantee (or, if the Awarded Shares are not certificated, the Awarded Shares shall be entered in the stock record books of the Company as held and owned by the Grantee); provided, however, that no certificates for Awarded Shares will be delivered to the Grantee (or, if the Awarded Shares are not certificated, no transfer of Restricted Stock vest the Awarded Shares will be entered in the stock record books of the Company) until appropriate arrangements have been made with the Company for the withholding or the date Participant ceases payment of any taxes that may be due with respect to be a Service Providersuch Awarded Shares. (b) If any of the Awarded Shares are forfeited by the Grantee under Section 2, upon request by the Company, the Escrow Holder will deliver any stock certificate(s) evidencing those Awarded Shares to the Company (or, if the Awarded Shares are not certificated, such forfeiture will be entered in the stock record books of the Company), and the Company will then have the right to retain and transfer those Awarded Shares to its own name free and clear of any rights of the Grantee under this Agreement or otherwise. (c) The Escrow Holder is hereby directed to permit transfer of the Awarded Shares only in accordance with this Agreement or in accordance with instructions signed by both parties hereto. In the event further instructions are reasonably desired by the Escrow Holder, he or she will be entitled to conclusively rely upon directions executed by a majority of the members of the Board. The Escrow Holder will not be liable have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omissions hereunder while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsown judgment. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 10 contracts

Samples: Award Agreement for Restricted Shares (Vasco Data Security International Inc), Award Agreement for Restricted Shares (Vasco Data Security International Inc), Award Agreement for Restricted Shares (Vasco Data Security International Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 9 contracts

Samples: Restricted Stock Award Agreement (Grid Dynamics Holdings, Inc.), Restricted Stock Award Agreement (Yodlee Inc), Employment Agreement (Realpage Inc)

Escrow of Shares. (a) All Certificates evidencing the Awarded Shares of Restricted Stock will, upon execution of issued under this Award Agreement, Agreement shall be delivered and deposited with an held in escrow holder designated by the Secretary of the Company or his or her designee (the “Escrow Holder”). The ) (or, if the Awarded Shares are not certificated, shall be entered in the stock record books of Restricted Stock will be the Company as held in escrow by the Escrow Holder Holder) until such time Awarded Shares are earned and vested in accordance with Section 2, at which time, the Escrow Holder shall deliver such certificates representing the vested and earned Awarded Shares to the Grantee (or, if the Awarded Shares are not certificated, the Awarded Shares shall be entered in the stock record books of the Company as held and owned by the Grantee); provided, however, that no certificates for Awarded Shares will be delivered to the Grantee (or, if the Awarded Shares are not certificated, no transfer of Restricted Stock vest the Awarded Shares will be entered in the stock record books of the Company) until appropriate arrangements have been made with the Company for the withholding or the date Participant ceases payment of any taxes that may be due with respect to be a Service Providersuch Awarded Shares. (b) If any of the Awarded Shares are forfeited by the Grantee under Section 2, upon request by the Company, the Escrow Holder will deliver any stock certificate(s) evidencing those Awarded Shares to the Company (or, if the Awarded Shares are not certificated, such forfeiture will be entered in the stock record books of the Company), and the Company will then have the right to retain and transfer those Awarded Shares to its own name free and clear of any rights of the Grantee under this Agreement or otherwise. (c) The Escrow Holder is hereby directed to permit transfer of the Awarded Shares only in accordance with this Agreement or in accordance with instructions signed by both parties hereto. In the event further instructions are reasonably desired by the Escrow Holder, he or she will be entitled to conclusively rely upon directions executed by a majority of the members of the Board. The Escrow Holder will not be liable have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omissions hereunder while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsown judgment. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 7 contracts

Samples: Award Agreement for Performance Shares (Vasco Data Security International Inc), Award Agreement for Performance Shares (Vasco Data Security International Inc), Award Agreement for Performance Shares (Vasco Data Security International Inc)

Escrow of Shares. (a) All To ensure the availability for delivery of the Purchaser's Unreleased Shares of Restricted Stock willupon repurchase by the Company pursuant to the Repurchase Option, the Purchaser shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the "Escrow Holder”)") the share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached hereto as Exhibit A-2. The Unreleased Shares of Restricted Stock will and stock assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser attached hereto as Exhibit A-3, until such time as the Shares Company's Repurchase Option expires. As a further condition to the Company's obligations under this Agreement, the Company may require the spouse of Restricted Stock vest or Purchaser, if any, to execute and deliver to the date Participant ceases to be a Service ProviderCompany the Consent of Spouse attached hereto as Exhibit A-4. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises the Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from the Repurchase Option, upon request that the Escrow Holder do soshall promptly cause a new certificate to be issued for the released Shares and shall deliver the certificate to the Company or the Purchaser, as the case may be. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. . If, from time to time during the term of the Repurchase Option, there is (fi) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalizationstock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser's ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsRepurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 7 contracts

Samples: Stock Option Agreement (Roxio Inc), Stock Option Agreement (Superconductor Technologies Inc), Restricted Stock Purchase Agreement (Garden Com Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”), together with the Assignment Separate from Certificate (the “Stock Assignment”) duly endorsed in blank, attached hereto as Exhibit B-1. The Shares of Restricted Stock and the Stock Assignment will be held by the Escrow Holder until such time Holder, pursuant to the Joint Escrow Instructions of the Company and Participant attached as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderExhibit B-2 hereto. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cashmerger, Sharesreorganization, other securities, or other property)consolidation, recapitalization, separation, liquidation, stock split, reverse stock split, reorganization, merger, consolidationdividend, split-up, spin-off, share combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the SharesCommon Stock, the Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will shall in his or her capacity as owner of unvested the Unvested Shares of Restricted Stock that have been awarded to him or her be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will shall thereupon be considered to be unvested “Unvested Shares of Restricted Stock Stock” and will shall be subject to all of the conditions and restrictions which were applicable to the unvested Unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will shall be considered to be unvested Unvested Shares of Restricted Stock and will shall be subject to all of the conditions and restrictions which were applicable to the unvested Unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 5 contracts

Samples: Stock Option Agreement (Alto Neuroscience, Inc.), Restricted Stock Agreement (LogicBio Therapeutics, Inc.), Restricted Stock Agreement

Escrow of Shares. (a) All To ensure the availability for delivery of the Director’s Unreleased Shares of Restricted Stock willupon repurchase by the Company pursuant to the Company’s repurchase option under Section 3 above, the Director shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Manhattan Transfer Registrar Company (the “Escrow Holder”)) the share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached hereto as Exhibit A-1. The Unreleased Shares of Restricted Stock will and stock assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Director attached as Exhibit A-2 hereto, until such time as the Shares Company’s repurchase option expires. As a further condition to the Company’s obligations under this Agreement, the spouse of Restricted Stock vest or Director, if any, shall execute and deliver to the date Participant ceases to be a Service ProviderCompany the Consent of Spouse attached hereto as Exhibit A-3. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its repurchase option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer repurchase option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participanthas been released from such repurchase option, upon Director’s request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or the Director, as the case may be. (e) Subject to the terms hereof, Participant will the Director shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company’s repurchase option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Director is entitled by reason of the Director’s ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as “Shares” for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany’s repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 5 contracts

Samples: Restricted Stock Award Agreement (U.S. Rare Earths, Inc), Restricted Stock Award Agreement (U.S. Rare Earths, Inc), Restricted Stock Award Agreement (U.S. Rare Earths, Inc)

Escrow of Shares. (a) All The Shares of Restricted Stock will, upon execution of issued under this Award Agreement, Agreement shall be delivered and deposited with held by an escrow holder designated by the Company (the "Escrow Holder"). The Shares of Restricted Stock will be held , along with a stock assignment executed by the Escrow Holder Purchaser in blank, until the expiration of the Company's option to repurchase such time Shares as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Providerset forth above. (b) The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Holder, the Escrow Holder shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company's Board of Directors. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its the Escrow Holder's own judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its repurchase option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer repurchase option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from such repurchase option, upon Purchaser's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Purchaser. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's repurchase option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser's ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 4 contracts

Samples: Restricted Stock Purchase Agreement (Cisco Systems Inc), Restricted Stock Purchase Agreement (Silicon Energy Corp), Restricted Stock Purchase Agreement (Silicon Energy Corp)

Escrow of Shares. (a) All To ensure the availability for delivery of the Purchaser's Unvested Shares upon exercise of Restricted Stock willthe Repurchase Option by the Company, the Purchaser shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the "Escrow Holder”). ") and reasonably acceptable to the Purchaser the share certificates representing the Unvested Shares, together with the Assignment Separate from Certificate (the "Stock Assignment") duly endorsed in blank, in the form attached hereto as Exhibit D. The Unvested Shares of Restricted and Stock will Assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser in the form attached as Exhibit E hereto, until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderCompany's Repurchase Option expires. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unvested Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised, and a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s request that has been released from such Repurchase Option, the Escrow Holder do soshall promptly upon request, but not more frequently than once each year, cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or the Purchaser, as the case may be. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's Repurchase Option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser's ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's Repurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 4 contracts

Samples: Restricted Stock Purchase Agreement (Nexsan Corp), Restricted Stock Purchase Agreement (Nexsan Corp), Restricted Stock Purchase Agreement (Nexsan Corp)

Escrow of Shares. (a) All Shares of Restricted Stock subject to this Award will, upon execution of this Award RSA Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock subject to this Award will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderExpiration Date. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock subject to this Award in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonthe Expiration Date, the Escrow Holder, upon receipt of written notice of such terminationexpiration, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock Shares, if any, subject to this Award to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant Participant, to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock Shares, if any, subject to this Award to the Company upon such terminationexpiration. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock subject to this Award to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including including, without limitation, the right to vote the Shares and to receive any cash dividends declared thereonthereon (but subject to Section 3(f)). (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock subject to this Award will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock subject to this Award be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock subject to this and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares subject this Award; provided, however, that fractions of Restricted Stock pursuant a Share will not be issued but will either be paid in cash at the fair market value of such fraction of a Share or will be rounded down to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stockthe nearest whole Share, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired as determined by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCommittee. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (Dropbox, Inc.), Restricted Stock Award Agreement (Dropbox, Inc.), Restricted Stock Award Agreement (Dropbox, Inc.)

Escrow of Shares. (a) All Certificates evidencing the Awarded Shares of Restricted Stock will, upon execution of issued under this Award Agreement, Agreement shall be delivered and deposited with an held in escrow holder designated by the Secretary of the Company or his or her designee (the “Escrow Holder”). The ) (or, if the Awarded Shares are not certificated, shall be entered in the stock record books of Restricted Stock will be the Company as held in escrow by the Escrow Holder Holder) until such time as the Awarded Shares of Restricted Stock vest or the date Participant ceases cease to be a Service Providersubject to forfeiture in accordance with Section 2, at which time, the Escrow Holder shall deliver such certificates representing the nonforfeitable Awarded Shares to the Grantee (or, if the Awarded Shares are not certificated, the Awarded Shares shall be entered in the stock record books of the Company as held and owned by the Grantee); provided, however, that no certificates for Awarded Shares shall be delivered to the Grantee (or, if the Awarded Shares are not certificated, no transfer of the Awarded Shares shall be entered in the stock record books of the Company) until appropriate arrangements have been made with the Company for the withholding or payment of any taxes that may be due with respect to such Awarded Shares. (b) If any of the Awarded Shares are forfeited by the Grantee under Section 2, upon request by the Company, the Escrow Holder shall deliver any stock certificate(s) evidencing those Awarded Shares to the Company (or, if the Awarded Shares are not certificated, such forfeiture shall be entered in the stock record books of the Company), and the Company shall then have the right to retain and transfer those Awarded Shares to its own name free and clear of any rights of the Grantee under this Agreement or otherwise. (c) The Escrow Holder will not is hereby directed to permit transfer of the Awarded Shares only in accordance with this Agreement or in accordance with instructions signed by both parties hereto. In the event further instructions are reasonably desired by the Escrow Holder, he or she shall be liable entitled to conclusively rely upon directions executed by a majority of the members of the Board. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omissions hereunder while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsown judgment. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 4 contracts

Samples: Award Agreement for Restricted Shares (Vasco Data Security International Inc), Award Agreement for Restricted Shares (Vasco Data Security International Inc), Award Agreement for Restricted Shares (Vasco Data Security International Inc)

Escrow of Shares. (a) All To insure the availability for delivery of Hxxxxx’s Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit D to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Holder attached as Exhibit E to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company’s Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Holder the certificate or certificates representing such Shares in the escrow agent’s possession belonging to Holder in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit E to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company’s Repurchase Option.

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (Leap Wireless International Inc), Restricted Stock Award Agreement (Leap Wireless International Inc), Restricted Stock Award Agreement (Leap Wireless International Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will shall be held by Xxxxx and Xxxxxx LLP (the "Escrow Holder Holder"), along with a stock assignment executed by the Founder in blank, until such time the expiration of the Repurchase Option as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Providerset forth above. (b) The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Holder, the Escrow Holder shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company's Board of Directors. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its the Escrow Holder's own judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises the Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from such Repurchase Option, upon Founder's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Founder. (e) Subject to the terms hereof, Participant will the Founder shall have all the rights of a stockholder with respect to the Shares while they are held in escrow, including including, without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event term of the Repurchase Option, there is any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalizationstock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in the corporate structure Shares, any and all new, substituted or additional securities to which the Founder is entitled by reason of the Company affecting the Shares, Founder's ownership of the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant Repurchase Option shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsRepurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 3 contracts

Samples: Founder's Agreement (Combinatorx, Inc), Founder's Agreement (Combinatorx, Inc), Founder's Agreement (Combinatorx, Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will shall have all the rights of a stockholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, reclassification, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock will be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (Sarcos Technology & Robotics Corp), Restricted Stock Award Agreement (Sarcos Technology & Robotics Corp), Restricted Stock Award Agreement (Athira Pharma, Inc.)

Escrow of Shares. (a) All To ensure the availability for delivery of the Purchaser's Unreleased Shares upon exercise of Restricted Stock willthe Repurchase Option by the Company, the Purchaser shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the "Escrow Holder”)") the share certificates representing the Unreleased Shares, together with the Assignment Separate from Certificate (the "Stock Assignment") duly endorsed in blank, attached hereto as Exhibit A-1. The Unreleased Shares of Restricted and Stock will Assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser attached as Exhibit A-2 hereto, until such time as the Shares Company's Repurchase Option expires. As a further condition to the Company's obligations under this Agreement, the spouse of Restricted Stock vest or Purchaser, if any, shall execute and deliver to the date Participant ceases to be a Service ProviderCompany the Consent of Spouse attached hereto as Exhibit A-3. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from such Repurchase Option, upon Purchaser's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or the Purchaser, as the case may be. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash. If, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled from time to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.time

Appears in 3 contracts

Samples: Restricted Stock Purchase Agreement (Avanex Corp), Restricted Stock Purchase Agreement (Avanex Corp), Restricted Stock Purchase Agreement (Avanex Corp)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a an Employee, (Eligible) Director, Consultant or Advisor (collectively “Service Provider”). (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator or Committee (collectively “Administrator”) in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (SmartMetric, Inc.), Restricted Stock Award Agreement (Social Reality), Restricted Stock Award Agreement (Genspera Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest vest, or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest vest, following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator or Committee (collectively “Administrator”) in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (Curative Biotechnology Inc), Restricted Stock Award Agreement (Force Protection Video Equipment Corp.), Restricted Stock Award Agreement (Neuralstem, Inc.)

Escrow of Shares. (a) All The Shares of Restricted Stock will, upon execution of issued under this Award Agreement, Agreement shall be delivered and deposited with an escrow holder designated held by the Secretary of the Company or its designee (the “Escrow Holder”). The Shares of Restricted Stock will be held , along with a stock assignment executed by the Escrow Holder Purchaser in blank, until the expiration of the Company’s option to repurchase such time Shares as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Providerset forth above. (b) The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Holder, Escrow Holder shall be liable entitled to rely upon directions executed by the Executive Chairman or a majority of the authorized number of the Company’s Board of Directors, exclusive of the Purchaser, if applicable. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its Escrow Holder’s own judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its repurchase option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer repurchase option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participanthas been released from such repurchase option, upon Purchaser’s request that request, the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Purchaser. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including including, without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company’s repurchase option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of Purchaser’s ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as “Shares” for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany’s repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 3 contracts

Samples: Restricted Stock Purchase Agreement (Engenavis, Inc.), Restricted Stock Purchase Agreement (Engenavis, Inc.), Restricted Stock Purchase Agreement (Engenavis, Inc.)

Escrow of Shares. (a) All To insure the availability for delivery of Xxxxxx's Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit D to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Holder attached as Exhibit E to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company's Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Holder the certificate or certificates representing such Shares in the escrow agent's possession belonging to Holder in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit E to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company's Repurchase Option.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (Leap Wireless International Inc), Restricted Stock Award Agreement (Leap Wireless International Inc), Restricted Stock Award Agreement (Leap Wireless International Inc)

Escrow of Shares. (a) All To ensure the availability for delivery of the Purchaser's Unreleased Shares of Restricted Stock willupon repurchase by the Company pursuant to the Repurchase Option, the Purchaser shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the "Escrow Holder”). ") the share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached hereto as Exhibit B. The --------- Unreleased Shares of Restricted Stock will and stock assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser attached hereto as Exhibit C, until such time as the Shares Company's Repurchase Option expires. --------- As a further condition to the Company's obligations under this Agreement, the Company may require the spouse of Restricted Stock vest or Purchaser, if any, to execute and deliver to the date Participant ceases to be a Service Provider.Company the Consent of Spouse attached hereto as Exhibit D. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises the Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from the Repurchase Option, upon request that the Escrow Holder do soshall promptly cause a new certificate to be issued for the released Shares and shall deliver the certificate to the Company or the Purchaser, as the case may be. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. . If, from time to time during the term of the Repurchase Option, there is (fi) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalizationstock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser's ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsRepurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 3 contracts

Samples: Founder's Stock Purchase Agreement (Biomarin Pharmaceutical Inc), Founder's Stock Purchase Agreement (Biomarin Pharmaceutical Inc), Founder's Stock Purchase Agreement (Biomarin Pharmaceutical Inc)

Escrow of Shares. (a) All The Shares issued under this Agreement shall be held by the Secretary of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an the Company as escrow holder designated by the Company (the “Escrow Holder”). The Shares , along with a stock assignment executed by Awardee in blank, until the expiration of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderRepurchase Option. (b) The Escrow Holder will not hereby is directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event that further instructions are desired by Escrow Holder, Escrow Holder shall be liable entitled to rely on directions executed by a majority of the authorized number of the Company’s Board of Directors. Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its Escrow Holder’s own judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises the Repurchase Option, the then Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The When the Repurchase Option has been exercised or expires unexercised or a portion of the Shares has been released from the Repurchase Option, upon Awardee’s request, Escrow Holder will take all steps necessary shall promptly cause a new certificate to accomplish the transfer of be issued for such released Shares of Restricted Stock and shall deliver such certificate to Participant after they vest following Participant’s request that the Escrow Holder do soAwardee. (e) Subject to the terms hereof, Participant will Awardee shall have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. thereon (fif any). If, from time to time during the term of the Repurchase Option, there is (i) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalizationstock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in the corporate structure Shares or (ii) any merger or sale of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, then any and restrictions all new, substituted or additional securities to which were applicable to Awardee is entitled by reason of Awardee’s ownership of the unvested Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares Escrow Holder and included thereafter as “Shares” for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsRepurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (IdentifySensors Biologics Corp.), Restricted Stock Award Agreement (IdentifySensors Biologics Corp.), Restricted Stock Award Agreement (808 Renewable Energy Corp)

Escrow of Shares. (a) All To insure the availability for delivery of Xxxxxx's Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit D to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Holder attached as Exhibit E to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company's Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Holder the certificate or certificates representing such Shares in the escrow agent's possession belonging to Holder in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit E to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company's Repurchase Option.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (Leap Wireless International Inc), Restricted Stock Award Agreement (Leap Wireless International Inc), Restricted Stock Award Agreement (Leap Wireless International Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder Holder, with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney in fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, includingincluding without limitation stock powers, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon, subject to the limitations of Section 8(g) of the Plan. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (RealPage, Inc.), Restricted Stock Award Agreement (RealPage, Inc.)

Escrow of Shares. (a) All 4.1 To ensure the availability for delivery of the Stockholder's Unreleased Shares of Restricted Stock willupon repurchase by the Company pursuant to the Company's repurchase option under Section 1 above, the Stockholder shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached hereto as EXHIBIT A. The Unreleased Shares of Restricted Stock will and stock assignment shall be held by the Escrow Holder until such time as Company pursuant to the Shares terms of Restricted Stock vest or the date Participant ceases to be a Service Providerthis Agreement. (b) 4.2 The Escrow Holder will Company shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its good faith judgment. (c) Upon Participant’s termination as a Service Provider for 4.3 If the Company or any reasonassignee exercises its repurchase option hereunder, the Escrow HolderCompany, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish such transfer. 4.4 When the transfer repurchase option has been exercised or expires unexercised or a portion of the unvested Shares of Restricted Stock has been released from such repurchase option, upon Stockholder's request the Company shall promptly cause a new certificate to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true be issued for such released Shares and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the shall deliver such certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationor the Stockholder, as the case may be. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) 4.5 Subject to the terms hereof, Participant will the Stockholder shall have all the rights of a stockholder with respect to the such Unreleased Shares while they are held in escrow, including without limitation, the right to vote the Unreleased Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's repurchase option, there is (i) any stock dividend, stock split or other change in the corporate structure Unreleased Shares, or (ii) any acquisition, merger or sale of assets of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to which does not release all of the conditions Unreleased Shares from the Company's repurchase option, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Stockholder is entitled by reason of the Stockholder's ownership of the Unreleased Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants , deposited with respect to any unvested Shares the Company and included thereafter as "Unreleased Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase option. 4.6 THE STOCKHOLDER ACKNOWLEDGES AND AGREES THAT THE RELEASE OF SHARES FROM THE REPURCHASE OPTION OF THE COMPANY PURSUANT TO SECTION 2 HEREOF IS EARNED ONLY BY CONTINUING SERVICE AS AN EMPLOYEE OF THE COMPANY (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementEXCEPT AS PROVIDED IN SECTION 2.2). THE STOCKHOLDER FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS AN EMPLOYEE FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE WITH THE STOCKHOLDER'S RIGHT OR THE COMPANY'S RIGHT TO TERMINATE THE STOCKHOLDER'S EMPLOYMENT RELATIONSHIP AT ANY TIME, WITH OR WITHOUT CAUSE.

Appears in 2 contracts

Samples: Stock Restriction Agreement (Breakaway Solutions Inc), Stock Restriction Agreement (Breakaway Solutions Inc)

Escrow of Shares. (a) All Shares of Restricted Stock willshall be held in escrow by the Company, upon execution of this Award Agreement, be delivered and deposited with an as escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as is hereby directed to transfer the Unvested Shares of Restricted Stock vest in accordance with this Agreement or instructions signed by both the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for Stockholder and the Company. If the Company or any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of assignee exercises its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonrepurchase rights hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the Company or such assignee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Companysuch transfer. Participant The Stockholder hereby appoints grants the Escrow Holder with full an irrevocable power of substitution, as Participant's true and lawful attorney‑in‑fact attorney coupled with irrevocable power and authority in the name and on behalf of Participant an interest to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary actions required to transfer the certificate or certificates evidencing effect such unvested Shares of Restricted Stock to the Company upon such termination. (d) transfer. The Escrow Holder will take all steps necessary may act in reliance upon advice of counsel in reference to accomplish any matter(s) connected with this Agreement, and shall not be liable for any mistake of fact or error of judgment, or for any acts or omissions of any kind, unless caused by its willful misconduct or gross negligence. With respect to any Unvested Shares that become Vested Shares, the transfer Company may, at its option, issue a new certificate for the number of shares which have become Vested Shares of Restricted Stock and shall deliver such certificate to Participant after they vest following Participant’s request that the Stockholder and shall deliver to the Escrow Holder do so. (e) a new certificate for the remaining Unvested Shares in exchange for the certificate then being held by the Escrow Holder, provided that any Vested Shares so delivered shall remain subject to the applicable provisions of this Agreement. Subject to the terms hereof, Participant will the Stockholder shall have all the rights of a stockholder with respect to the Shares while they are held in escrow. If, from time to time while the Escrow Holder is holding Shares, there is any stock dividend, stock split or other change in or respecting such Shares, including without limitation, the right to vote automatic conversion of the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, into voting common stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, any and all new, substituted or other change in additional securities to which the corporate structure Stockholder is entitled by reason of the Company affecting the Shares, Stockholder’s ownership of the Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Holder and included thereafter as “Unvested Shares” or “Vested Shares,” as applicable, for purposes of this Agreement and the repurchase rights of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Stock Restriction Agreement (Civitas Therapeutics, Inc.), Stock Restriction Agreement (Civitas Therapeutics, Inc.)

Escrow of Shares. (a) All To insure the availability for delivery of Xxxxxx’s Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit D to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Holder attached as Exhibit E to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company’s Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Holder the certificate or certificates representing such Shares in the escrow agent’s possession belonging to Holder in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit E to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company’s Repurchase Option.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Tessera Technologies Inc), Restricted Stock Award Agreement (Tessera Technologies Inc)

Escrow of Shares. (a) All Unvested Shares of Restricted Stock willshall be held in escrow by the Company, upon execution of this Award Agreement, be delivered and deposited with an as escrow holder designated by the Company (the “Escrow Holder”), together with a stock assignment executed by the Stockholder with respect to such Shares. The Escrow Holder is hereby directed to permit transfer of the Unvested Shares in accordance with this Agreement or instructions signed by both the Stockholder and the Company. The Escrow Holder shall not in any way be bound or affected by any notice or modification or cancellation of Restricted Stock will be held by the provisions of this Agreement, unless certified to the Escrow Holder until such time as in a writing signed by the Shares parties hereto. No changes to this Agreement relating to the rights and duties of Restricted Stock vest or the date Participant ceases to Escrow Holder shall be a Service Provider. (b) effective without the consent of the Escrow Holder. The Escrow Holder will shall be entitled to rely on any judgment, certification, demand or other writing delivered to it hereunder without being required to determine the authenticity or the correctness of any fact stated therein, the propriety or validity of the service thereof, or the jurisdiction of the court issuing any such judgment. The Escrow Holder shall not be under any duty to give any securities, checks, monies, or other documents held by it hereunder any greater degree of care than it gives its own similar property or monies. The Escrow Holder may act in reliance upon any instrument or signature believed by it to be genuine, and may assume that any person purporting to give any notice or receipt of advice or make any statement in connection with this Agreement has been duly authorized to do so. The Escrow Holder may act in reliance upon advice of counsel in reference to any matter(s) connected with this Agreement, and shall not be liable for any act it may do mistake of fact or omit to do with respect to holding the Shares error of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider , or for any reasonacts or omissions of any kind, unless caused by its willful misconduct or gross negligence. The Company and the Stockholder jointly and severally indemnify and hold the Escrow Holder harmless from any claim, action, loss, cost, expense or damage arising out of or relating to the escrow set forth herein, including without limitation, any of the foregoing arising out of claims or actions now or hereafter made or brought against the Escrow Holder by any party hereto or by any third party (such indemnification to include all costs and expenses incurred by the Escrow Holder, including, but not limited to, court costs and attorneys’ fees). If the Company or any assignee exercises its repurchase option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the Company or such assignee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Companysuch transfer. Participant The Stockholder hereby appoints grants the Escrow Holder with full an irrevocable power of substitutionattorney, as Participant's true and lawful attorney‑in‑fact which shall be coupled with irrevocable power and authority in the name and on behalf of Participant an interest, to take any action and execute all documents actions required to effect such transfer. With respect to any Unvested Shares that become Vested Shares pursuant to Section 4, the Company, upon the written request of the Stockholder, shall issue a new certificate for the number of Shares which have become Vested Shares and instruments, including, without limitation, stock powers which may be necessary to transfer the shall deliver such certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary Stockholder and shall deliver to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) a new certificate for the remaining Unvested Shares in exchange for the certificate then being held by the Escrow Holder. Subject to the terms hereof, Participant will the Stockholder shall have all the rights of a stockholder with respect to the Unvested Shares while they are held in escrow, including without limitation, the right to vote the Unvested Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time while the event of Escrow Holder is holding Unvested Shares, there is any dividend stock dividend, stock split or other distribution (whether change in or respecting the form of cash, Shares, other securitiesany and all new, substituted or other property)additional securities to which the Stockholder is entitled by reason of his or her ownership of the Unvested Shares shall be immediately subject to this escrow, recapitalizationdeposited with the Escrow Holder and included thereafter as “Unvested Shares” for purposes of this Agreement and the repurchase option of the Company. It is understood and agreed that should any dispute arise with respect to the delivery, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, ownership or exchange right of possession of the Shares or other securities held by the Escrow Holder hereunder, the Escrow Holder is authorized and directed to retain in its possession without liability to anyone all or any part of said Shares or other securities until such dispute shall have been settled either by mutual written agreement of the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but it shall be under no duty whatsoever to institute or defend any such proceedings. All reasonable costs, fees and disbursements incurred by the Escrow Holder in connection with the performance of its duties hereunder shall be borne by the Company, or other change in . With the corporate structure consent of the Company affecting the Shares, Escrow Holder may appoint a successor Escrow Holder from time to time. The Escrow Holder shall not be required to sign this Agreement in order for the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered foregoing provisions to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantseffective. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Stock Purchase and Restriction Agreement (Omtool LTD), Stock Purchase and Restriction Agreement (Omtool LTD)

Escrow of Shares. (a) All To ensure the availability for delivery of Participant’s Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Participant hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit C to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Participant attached as Exhibit D to the SharesGrant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company’s Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares from the Company’s Repurchase Option, the escrow agent shall deliver to Participant the certificate or certificates representing such Shares in the escrow agent’s possession belonging to Participant in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit D to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company’s Repurchase Option.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Provide Commerce Inc), Restricted Stock Award Agreement (Cbeyond Communications Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). a. The Shares of Restricted Stock will issued under this Agreement shall be held by the Secretary of the Company as escrow holder ("Escrow Holder Holder"), along with a stock assignment executed by the Purchaser in blank, until the expiration of the Company's Repurchase Option with respect to such time Shares as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Providerset forth above. (b) b. The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Holder, he shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company's Board of Directors. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his own judgment. (c) Upon Participant’s termination as a Service Provider for c. If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish such transfer. d. When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints has been released from such Repurchase Option, upon Purchaser's request the Escrow Holder with full power of substitution, as Participant's true shall promptly cause a new certificate to be issued for such released Shares and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the shall deliver such certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationPurchaser. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) e. Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's Repurchase Option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of his ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Purchase Agreement (Rational Software Corp), Restricted Stock Purchase Agreement (Rational Software Corp)

Escrow of Shares. (aThe Certificate(s) All representing all Restricted Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will shall be held by the Secretary of the Company as escrow holder (the "Escrow Holder until such time as Holder"), along with a stock power executed by the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) Executive in blank. The Escrow Holder will not is hereby directed to permit transfer of such shares only in accordance with this Agreement and the Stockholders Agreement. In the event further instructions are desired by the Escrow Holder, he shall be liable entitled to rely upon written directions of the Board of Directors of the Company (excluding any Senior Executive that is a director of the Company). The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his own judgment. (c) Upon Participant’s termination as a Service Provider for . The Company agrees to indemnify and hold Escrow Holder free and harmless from and against any reasonand all losses, costs, damages, liabilities or expenses, including counsel fees to which Escrow Holder may be put or which he may incur by reason of or in connection with the escrow arrangement hereunder. If the Company or any assignee repurchases any of the Restricted Shares pursuant to this Section 7, the Escrow Holder, upon receipt of written notice of such terminationrepurchase from the proposed transferee, will shall take all steps necessary to accomplish such repurchase. From time to time, upon Executive's request, Escrow Holder shall: (i) cancel the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints certificate(s) held by the Escrow Holder with full power of substitutionand representing Restricted Shares, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in (ii) cause new certificate(s) to be issued representing the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares number of Restricted Stock Shares no longer subject to the Company upon such termination. repurchase pursuant paragraphs (di), (ii) The Escrow Holder will take all steps necessary to accomplish the transfer and (iii) of Shares of Restricted Stock to Participant after they vest following Participant’s request that Section 7(b), which certificate(s) the Escrow Holder do so. shall deliver to Executive, and (eiii) cause new certificate(s) to be issued representing the balance of the Restricted Shares, which certificate(s) shall be held in escrow by the Escrow Holder in accordance with the provisions of this Section 7(d). Subject to the terms hereof, Participant will Executive shall have all the rights of a stockholder with respect to the Restricted Shares while they are held in escrow, including without limitation, the right to vote the Restricted Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's repurchase right, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Restricted Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to such Executive is entitled by reason of his ownership of the unvested Restricted Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Restricted Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase right. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Tritel Inc), Employment Agreement (Tritel Inc)

Escrow of Shares. (a) All Shares shall be held in escrow by the person serving from time to time as the corporate Secretary of Restricted Stock willthe Company, upon execution of this Award Agreement, be delivered and deposited with an as escrow holder designated by the Company (the “Escrow Holder”). The Shares execution of Restricted Stock will be held this Agreement by the Purchaser shall constitute a stock assignment executed by the Purchaser with respect to the transfer of the Shares in accordance with this Agreement. The Escrow Holder until such time as is hereby directed to permit transfer of Shares in accordance with this Agreement or instructions signed by both the Shares of Restricted Stock vest or Purchaser and the date Participant ceases to be a Service ProviderCompany. (b) The Escrow Holder will not shall be liable for entitled to rely on any act judgment, certification, demand or other writing delivered to it may do hereunder without being required to determine the authenticity or omit to do with respect to holding the Shares correctness of Restricted Stock in escrow while acting in good faith and in any fact stated therein, the exercise propriety or validity of its the service thereof, or the jurisdiction of the court issuing any such judgment. (c) Upon Participant’s termination as a Service Provider The Escrow Holder may act in reliance upon any instrument or signature believed by it to be genuine, and may assume that any person purporting to give any notice or receipt of advice or make any statement in connection with this Agreement has been duly authorized to do so. (d) The Escrow Holder may act in reliance upon advice of counsel in reference to any matter(s) connected with this Agreement, and shall not be liable for any reasonmistake of fact or error of judgment, or for any acts or omissions of any kind, unless caused by its willful misconduct or gross negligence. (e) If the Shares are forfeited in accordance with the provisions of this Agreement, the Escrow Holder, upon receipt of written notice of such terminationforfeiture from the Company, will shall take all steps necessary to accomplish the transfer of the unvested Unvested Shares of Restricted Stock to the Company. Participant The Purchaser hereby appoints grants the Escrow Holder with full a power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant attorney to take any action and execute all documents actions required to effect such transfer. If the Unvested Shares become Vested Shares in accordance with the provisions of this Agreement, the Company shall advise the Escrow Holder of the occurrence of such event, and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or Escrow Holder shall promptly deliver certificates evidencing such unvested for the Vested Shares of Restricted Stock to the Company upon such terminationPurchaser. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (ef) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time while the event of any dividend or other distribution (whether in the form of cash, Escrow Holder is holding Shares, other securities, or other property), recapitalizationthere is any stock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in the corporate structure of the Company affecting or respecting the Shares, any and all new, substituted or additional securities to which the Purchaser is entitled by reason of his ownership of the Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Holder and included thereafter as "Shares” for purposes of this Agreement and the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsforfeiture provisions hereof. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as It is understood and agreed that should any dispute arise with respect to the restrictions on transfer set forth delivery, ownership or right of possession of the Shares, the Escrow Holder is authorized and directed to retain in its possession without liability to anyone all or any part of said Shares until otherwise directed by the joint written instructions of the Purchaser and the Company. (h) All costs, fees and disbursements incurred by the Escrow Holder in connection with the performance of its duties hereunder shall be borne by the Company. (i) The parties hereto understand that any law firm of which the Escrow Holder is a partner or employee may act as legal counsel to the Company, and that said firm may continue to so act as such counsel in the event of any dispute in connection with this Award AgreementAgreement or any transaction contemplated herein or affected hereby. (j) The Escrow Holder shall not be required to sign this Agreement in order for the foregoing provisions to be effective.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Duke Robotics, Inc.), Stock Purchase Agreement (Duke Robotics, Inc.)

Escrow of Shares. (a) All To ensure the availability for delivery of the Purchaser’s Unvested Shares upon exercise of Restricted Stock willthe Repurchase Option by the Company, the Purchaser shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). ) and reasonably acceptable to the Purchaser the share certificates representing the Unvested Shares, together with the Assignment Separate from Certificate (the “Stock Assignment”) duly endorsed in blank, in the form attached hereto as Exhibit D. The Unvested Shares of Restricted and Stock will Assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser in the form attached as Exhibit E hereto, until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderCompany’s Repurchase Option expires. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unvested Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised, and a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s request that has been released from such Repurchase Option, the Escrow Holder do soshall promptly upon request, but not more frequently than once each year, cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or the Purchaser, as the case may be. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company’s Repurchase Option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser’s ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as “Shares” for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany’s Repurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Purchase Agreement (Nexsan Corp), Restricted Stock Purchase Agreement (Nexsan Corp)

Escrow of Shares. (a) a. All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) b. The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) c. Upon Participant’s termination as Participant ceasing to be a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) d. The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) e. Subject to the terms hereof, Participant will shall have all the rights of a stockholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. thereon (subject to subsection (f) below). f. In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) g. The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Dropbox, Inc.), Restricted Stock Award Agreement (Dropbox, Inc.)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will shall have all the rights of a stockholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, reclassification, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock will be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (BlackSky Technology Inc.), Restricted Stock Award Agreement (ARYA Sciences Acquisition Corp III)

Escrow of Shares. (a) All Shares As security for the faithful performance of Restricted Stock will, upon execution the ---------------- terms of this Award AgreementAgreement and to ensure the availability for delivery of the unvested Common Shares in case of an exercise of the Purchase Option, be delivered Purchaser shall deliver to and deposited deposit with an the escrow holder designated by the Company agent (the "Escrow Holder”Agent") named in the Joint Escrow Instructions executed concurrently herewith (the "Joint Escrow Instructions"), 10 stock assignments duly endorsed (with date and number of shares blank) together with the certificate or certificates evidencing the shares of Common Stock purchased hereunder by Purchaser. The Shares of Restricted Stock will Such documents are to be held by the Escrow Holder until such time Agent and delivered by the Escrow Agent pursuant to the terms of the Joint Escrow Instructions, which shall be executed by Purchaser and the Company and delivered to the Escrow Agent concurrently with the execution of this Agreement. As promptly as the Shares of Restricted Stock vest or the practicable after each vesting date Participant ceases to be a Service Provider. under this Agreement (b) The Escrow Holder will not be liable for any act it may do or omit to do but, with respect to holding ETA Stock, only after the Shares of Restricted Stock in escrow while acting in good faith and in Company is able to determine whether or not the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonapplicable Performance Criteria have been met), the Company shall notify Purchaser and the Escrow HolderAgent in writing of the aggregate vesting and non-vesting to that date of Common Shares and ETA Stock, and the Escrow Agent shall, within 30 days after receipt of such notice, deliver to Purchaser certificates representing that number of Purchaser's Common Shares that such notice states have become vested (less such shares, the certificates for which have been previously delivered). From time to time, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change the Escrow Agent shall deliver to the Company certificates representing that number of Common Shares which the Company shall have purchased upon exercise of the Purchase Option, unless Purchaser objects in the corporate structure manner provided in the Joint Escrow Instructions. In the case of any conflict or inconsistency between this Section 5 and the Company affecting the SharesJoint Escrow Instructions, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsJoint Escrow Instructions shall control. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Stock Purchase Agreement (City Truck Holdings Inc), Stock Purchase Agreement (City Truck Holdings Inc)

Escrow of Shares. (a) All To ensure the availability for delivery of the Purchaser’s Unreleased Shares of Restricted Stock willupon repurchase by the Company pursuant to the Repurchase Option, the Purchaser shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”)) the share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached hereto as Exhibit A-2. The Unreleased Shares of Restricted Stock will and stock assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser attached hereto as Exhibit A-3, until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderCompany’s Repurchase Option expires. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises the Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from the Repurchase Option, upon request that the Escrow Holder do soshall promptly cause a new certificate to be issued for the released Shares and shall deliver the certificate to the Company or the Purchaser, as the case may be. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. . If, from time to time during the term of the Repurchase Option, there is (fi) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalizationstock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser’s ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as “Shares” for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsRepurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Stock Option Agreement (Netflix Inc), Restricted Stock Award Agreement (Somera Communications Inc)

Escrow of Shares. (a) All To insure the availability for delivery of the Employee's Unreleased Shares of Restricted Stock willupon repurchase by the Company pursuant to the Company's Repurchase Option, the Employee shall upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the "Escrow Holder”)") the share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached as Exhibit A-1. The Unreleased Shares of Restricted Stock will and stock assignment shall be held by the Escrow Holder pursuant to the Joint Escrow Instructions of the Company and Employee attached as Exhibit A-2, until such time as the Shares Company's rights of Restricted Stock vest or repurchase pursuant to the date Participant ceases Company's Repurchase Option no longer are in effect. As a further condition to be a Service Providerthe Company's obligations under this Agreement, the spouse of Employee, if any, shall execute and deliver to the Company the Consent of Spouse attached as Exhibit A-3. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of Shares of Restricted Stock to Participant after they vest following Participant’s has been released from such Repurchase Option, upon the Employee's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released shares and shall deliver such certificate to the Employee without the legend referred to in Section 5 below. (e) Subject to the terms hereof, Participant will the Employee shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's Repurchase Option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Employee is entitled by reason by the Employee's ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be escrow (subject to all Section 2(c) above), deposited with the Escrow Holder and included thereafter as "Shares" for purposes of this Agreement and the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's Repurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Repurchase Agreement (Talk City Inc), Repurchase Agreement (Talk City Inc)

Escrow of Shares. (a) All Unvested Shares of Restricted Stock will, upon execution of this Award Agreement, shall be delivered and deposited with an held in escrow holder designated ("Escrowed Shares") by the Secretary of the Company as escrow agent (the "Escrow Holder”Agent"). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable Agent is hereby directed to transfer Escrowed Shares to Purchaser or Purchaser's designee upon Vesting and in accordance with written instructions from Purchaser. The Escrow Agent shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his/her own judgment, and shall be entitled to indemnification from the Company to the full extent permitted by applicable law in respect of his/her service as Escrow Agent. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee repurchases Shares pursuant to Section 4, the Escrow HolderAgent, upon receipt of written notice of such terminationexercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will the Purchaser and each of his/her permitted assigns shall, as a record owner of Shares, have all the rights of a stockholder with respect to the Escrowed Shares while they are held in escrow, including without limitation, the right to vote the Escrowed Shares and to receive any cash dividends and other distributions declared thereon. , provided that any unvested non-cash dividends or distributions shall be immediately deposited with the Escrow Agent to be held in escrow together with the Escrowed Shares in accordance with this Section 5. If, from time to time prior to the vesting of the Escrowed Shares, there is (fi) In any stock dividend, stock split or like change in the event Shares or (ii) any merger or sale of any dividend all or substantially all of the assets or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities acquisition of the Company, or other change in the corporate structure of the Company affecting the Sharesany and all new, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new substituted or additional or different shares securities to which the Purchaser is entitled by reason of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon his/her ownership of Escrowed Shares shall be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Agent and included thereafter as "Escrowed Shares" for purposes of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Purchase Agreement (Nextel Partners Inc), Restricted Stock Purchase Agreement (Nextel Partners Inc)

Escrow of Shares. (a1) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will issued under this Agreement shall be held by the Secretary of the Company as escrow holder ("Escrow Holder Holder"), along with a stock assignment executed by the Purchaser in blank, until the expiration of the Company's Repurchase Option with respect to such time Shares as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Providerset forth above. (b2) The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Holder, he shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company's Board of Directors. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his own judgment. (c3) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish such transfer. (4) When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints has been released from such Repurchase Option, upon Purchaser's request the Escrow Holder with full power of substitution, as Participant's true shall promptly cause a new certificate to be issued for such released Shares and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the shall deliver such certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationPurchaser. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e5) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's Repurchase Option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of his ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Purchase Agreement (Petsmart Com Inc), Restricted Stock Purchase Agreement (Petsmart Com Inc)

Escrow of Shares. (a) All of the Shares of Restricted Stock will, upon execution of issued under this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will Agreement shall be held by the Secretary of the Company or his designee (the "Escrow Holder Holder"), along with a stock assignment executed by the Founder in blank, until the expiration in full of the Company's option to repurchase such time Shares as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Providerset forth above. (b) The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Holder, he shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company's Board of Directors. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his own judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its repurchase option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer repurchase option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from such repurchase option, upon Founder's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released shares and shall deliver such certificates to the Founder. (e) Subject to the terms hereof, Participant will the Founder shall have all the rights of a stockholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's repurchase option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Founder is entitled by reason of his ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Founder's Restricted Stock Purchase Agreement (Netflix Com Inc), Founder's Restricted Stock Purchase Agreement (Netflix Com Inc)

Escrow of Shares. (aThe Certificate(s) All representing Unvested Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will ---------------- shall be held by the Secretary of Triton as escrow holder (the "Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be Holder"), along with a Service Provider. (b) stock power executed by Executive in blank. The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement. In the event further instructions are desired by the Escrow Holder, he shall be liable entitled to rely upon directions executed by a majority of the authorized number of Triton's Board of Directors. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his own judgment. (c) Upon Participant’s termination as a Service Provider for . If Triton or any reasonassignee repurchases any of the Shares pursuant to this Paragraph 7, the Escrow Holder, upon receipt of written ----------- notice of such terminationrepurchase from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock such repurchase. From time to the Company. Participant hereby appoints time, upon Executive's request, the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in shall: (i) cancel the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (dcertificate(s) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that held by the Escrow Holder do so. and Executive representing the Shares, (eii) cause a new certificate to be issued representing all the Shares that have vested in accordance with the terms of Schedule IV, which certificate the Escrow Holder ----------- shall deliver to Executive, and (iii) cause a new certificate to be issued representing the then remaining Unvested Shares, which certificate shall be held in escrow by the Escrow Holder in accordance with the provisions of this Paragraph 7(e). Subject to the terms hereof, Participant will Executive shall have all the -------------- rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. . If, from time to time during the term of Triton's repurchase right, there is (fi) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalizationstock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of Triton, any and restrictions all new, substituted or additional securities to which were applicable to Executive is entitled by reason of his ownership of the unvested Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsTriton's repurchase right. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Triton PCS Inc), Employment Agreement (Triton PCS Inc)

Escrow of Shares. (a) All Shares that are subject to repurchase by the Company pursuant to Section 4 (collectively, "Escrowed Shares") shall be either (i) held in escrow by the Secretary of Restricted Stock will, upon execution the Company as escrow agent (the "Escrow Agent") together with one or more stock powers executed in blank and in a form legally sufficient to effect the transfer of this Award Agreement, be delivered and deposited with an escrow holder such Escrowed Shares; or (ii) held in a single brokerage account designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held Purchaser and approved by the Company, which approval shall not be unreasonably withheld. If the Purchaser chooses to place the Escrowed Shares in a designated brokerage account pursuant to this Section 5(a), the Purchaser will make diligent and reasonable efforts to obtain from the broker and provide to the Company's General Counsel a copy of a "Broker Instruction/Representation Form" signed by the broker and in substantially the same form as attached hereto as Exhibit A, which form may be modified and amended by the Company from time to time in the Company's discretion as necessary or appropriate to maintain compliance with applicable laws, rules and regulations regarding transactions in the Company's securities. Shares that are no longer subject to repurchase by the Company pursuant to Section 4 shall be released from escrow at the Purchaser's request, and the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases Agent shall promptly cause a new certificate to be a Service Providerissued for such released Shares and shall deliver such certificate to the Purchaser. (b) The Escrow Holder will not Agent is hereby directed to permit transfers of Escrowed Shares only in accordance with this Agreement or upon receipt of instructions signed by both parties. In the event further instructions are desired by the Escrow Agent, he shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company's directors (excluding the Purchaser if he is then a member of the Board). The Escrow Agent shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his own judgment, and shall be entitled to indemnification from the Company to the full extent permitted by applicable law in respect of his service as Escrow Agent. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee repurchases Shares pursuant to Section 4, the Escrow HolderAgent, upon receipt of written notice of such terminationexercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will the Purchaser and each of his permitted assigns shall, as a record owner of Shares, have all the rights of a stockholder with respect to the Escrowed Shares while they are held in escrowescrow or otherwise held in accordance with this Section 5, including without limitation, the right to vote the Escrowed Shares and to receive any cash dividends and other distributions declared thereon. , provided that any non-cash dividends or distributions shall be immediately deposited with the Escrow Agent to be held in escrow together with the Escrowed Shares or placed in the brokerage account designated by the Purchaser in accordance with this Section 5. If, from time to time prior to the termination of the Company's repurchase rights, there is (fi) In any stock dividend, stock split or like change in the event Shares or (ii) any merger or sale of any dividend all or substantially all of the assets or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities acquisition of the Company, any and all new, substituted or other change additional securities to which the Purchaser is entitled by reason of his ownership of Escrowed Shares shall be immediately subject to this Section 5 and deposited with the Escrow Agent or placed in the corporate structure designated brokerage account and included thereafter as "Escrowed Shares" for purposes of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Purchase Agreement (Nextel Partners Inc), Restricted Stock Purchase Agreement (Nextel Partners Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderProvider (if earlier). (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock (after giving effect to any accelerated vesting resulting from such termination) to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held unvested; provided, however, that if any (x) dividends or distributions are paid in escrow, including without limitationShares or other property, the right Shares or other property will be subject to vote the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid and to receive any (y) dividends are paid in cash, such cash dividends declared thereonwill be withheld (in the Company’s general assets) and paid only upon the vesting of the underlying Shares of Restricted Stock (with such cash dividends to be forfeited upon the forfeiture of the underlying Shares of Restricted Stock). (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company Company, affecting the Shares, in which the Shares of Restricted Stock will be are increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be (if applicable) is entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Amkor Technology, Inc.), Restricted Stock Award Agreement (Amkor Technology Inc)

Escrow of Shares. (a) All Unvested Shares of Restricted Stock willshall be held in escrow by the Company, upon execution of this Award Agreement, be delivered and deposited with an as escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (ba) The Escrow Holder will not be liable for is hereby directed to transfer the Unvested Shares in accordance with this Agreement or instructions signed by both the Founder and the Company. If the Company or any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of assignee exercises its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonrepurchase rights hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the Company or such assignee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Companysuch transfer. Participant The Founder hereby appoints grants the Escrow Holder with full an irrevocable power of substitution, as Participant's true and lawful attorney‑in‑fact attorney coupled with irrevocable power and authority in the name and on behalf of Participant an interest to take any action and execute all documents actions required to effect such transfer. (b) The Escrow Holder may act in reliance upon advice of counsel in reference to any matter(s) connected with this Agreement, and instrumentsshall not be liable for any mistake of fact or error of judgment, includingor for any acts or omissions of any kind, without limitationunless caused by its willful misconduct or gross negligence. (c) With respect to any Unvested Shares that become Vested Shares, stock powers the Company may, at its option, issue a new certificate for the number of shares which may be necessary have become Vested Shares and shall deliver such certificate to transfer the Founder and shall deliver to the Escrow Holder a new certificate for the remaining Unvested Shares in exchange for the certificate or certificates evidencing such unvested Shares of Restricted Stock to then being held by the Company upon such terminationEscrow Holder. (d) The Escrow Holder will take all steps necessary If, from time to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that time while the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, is holding Unvested Shares, other securities, or other property), recapitalizationthere is any stock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in or respecting such shares, any and all new, substituted or additional securities to which the corporate structure Founder is entitled by reason of his ownership of the Company affecting the Shares, the Unvested Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Holder and included thereafter as “Unvested Shares” for purposes of this Agreement and the repurchase rights of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Founder Stock Restriction Agreement (Monogram Orthopaedics Inc), Founder Stock Restriction Agreement (Kindara, Inc.)

Escrow of Shares. (a) All To insure the availability for delivery of Holder's Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit D to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Holder attached as Exhibit E to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company's Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Holder the certificate or certificates representing such Shares in the escrow agent's possession belonging to Holder in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit E to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company's Repurchase Option.

Appears in 2 contracts

Samples: Executive Employment Agreement (Leap Wireless International Inc), Executive Employment Agreement (Leap Wireless International Inc)

Escrow of Shares. (aThe Certificate(s) All Shares of Restricted Stock willrepresenting all Shares, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will subject to repurchase pursuant to Section 7(b) shall be held by the Secretary of the Company as escrow holder (the "Escrow Holder"), along with a stock power executed by the applicable Restricted Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) in blank. The Escrow Holder will not is hereby directed to permit transfer of such Shares only in accordance with this Agreement and the Stockholders Agreement. In the event further instructions are desired by the Escrow Holder, he shall be liable entitled to rely upon written directions of the Board of Directors (excluding Vento and Xxxxxxxx). The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his own judgment. (c) Upon Participant’s termination as a Service Provider for . If the Company or any reasonassignee repurchases any of such Shares pursuant to this Section 7, the Escrow Holder, upon receipt of written notice of such terminationrepurchase from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of such repurchase. From time to time, upon a Restricted Stock to the Company. Participant hereby appoints Holder's request, the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in shall: (i) cancel the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (dcertificate(s) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that held by the Escrow Holder do so. and representing such Shares, (eii) cause new certificate(s) to be issued representing the number of Shares no longer subject to repurchase pursuant to this Section 7, which certificate(s) the Escrow Holder shall deliver to such Restricted Holder, and (iii) cause new certificate(s) to be issued representing the balance of such Shares, which certificate(s) shall be held in escrow by the Escrow Holder in accordance with the provisions of this Section 7(d). Subject to the terms hereof, Participant will a Restricted Holder shall have all the rights of a stockholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the such Shares and to receive any cash dividends declared thereon. . If, from time to time during the term of the Company's repurchase right, there is (fi) In the event of any dividend stock dividend, stock split or other distribution (whether change in the form of cash, such Shares, other securities, or (ii) any merger or sale of all or substantially all of the assets or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities acquisition of the Company, or other change in the corporate structure of the Company affecting the Sharesany and all new, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new substituted or additional or different shares securities to which such Restricted Holder is entitled by reason of stock, cash or securities (other than rights or warrants to purchase securities); his ownership of such new or additional or different shares, cash or securities will thereupon Shares shall be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Holder and included thereafter as "Shares" for purposes of this Agreement and the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase right. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Management Agreement (Telecorp PCS Inc /Va/), Management Agreement (Sullivan Thomas H)

Escrow of Shares. (a) All To ensure the availability for delivery of the Purchaser's Unreleased Shares upon exercise of Restricted Stock willthe Repurchase Option by the Company, the Purchaser shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the "Escrow Holder”)") the share certificates representing the Unreleased Shares, together with the Assignment Separate from Certificate (the "Stock Assignment") duly endorsed in blank, attached hereto as Exhibit A-1. The Unreleased Shares of Restricted and Stock will Assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser attached as Exhibit A-2 hereto, until such time as the Shares Company's Repurchase Option expires. As a further condition to the Company's obligations under this Agreement, the spouse of Restricted Stock vest or Purchaser, if any, shall execute and deliver to the date Participant ceases to be a Service ProviderCompany the Consent of Spouse attached hereto as Exhibit A-3. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgmentjudgment and the Company shall hold Escrow Holder harmless from any and all such liability, including attorneys fees and other expenses of defending against the assertion of any such claim. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from such Repurchase Option, upon Purchaser's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or the Purchaser, as the case may be. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's Repurchase Option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser's ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's Repurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Purchase Agreement (Avanex Corp), Restricted Stock Purchase Agreement (Avanex Corp)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereonthereon as when the Shares are released from escrow. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Shares of Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Nlight, Inc.), Restricted Stock Award Agreement (Nlight, Inc.)

Escrow of Shares. (a) All To ensure the availability for delivery of Participant’s Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Participant hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached as Exhibit C to the corporate structure Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Participant attached as Exhibit D to the SharesGrant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company’s Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares from the Company’s Repurchase Option, the escrow agent shall deliver to Participant the certificate or certificates representing such Shares in the escrow agent’s possession belonging to Participant in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit D to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company’s Repurchase Option.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Visual Sciences, Inc.), Restricted Stock Award Agreement (Omniture, Inc.)

Escrow of Shares. (a) All The Participant hereby authorizes and directs the secretary of the Company, or such other person designated by the Board, to transfer the Unreleased Shares which have been forfeited by the Participant to the Company. (b) To insure the availability for delivery of Restricted Stock willthe Participant's Unreleased Shares in the event of forfeiture of such Shares by the Participant pursuant to Section 2, the Participant hereby appoints the secretary, or any other person designated by the Administrator as escrow agent, as its attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, forfeited by the Participant pursuant to Section 2 and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder the secretary of the Company, or such other person designated by the Company (Administrator, the “Escrow Holder”). share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached hereto as Exhibit A. The Unreleased Shares of Restricted Stock will and stock assignment shall be held by the secretary in escrow, pursuant to the Joint Escrow Holder Instructions of the Company and the Participant attached as Exhibit B hereto, until the shares are forfeited by the Participant as provided in Section 2, until such Unreleased Shares are released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to the Participant the certificate or certificates representing such Shares in the escrow agent's possession belonging to the Participant in accordance with the terms of Restricted Stock vest the Joint Escrow Instructions attached as Exhibit B hereto, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or the date Participant ceases certificates as escrow agent if so required pursuant to be a Service Providerother restrictions imposed pursuant to this Agreement. (bc) The Escrow Holder will Company, or its designee, shall not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (BioMed Realty Trust Inc)

Escrow of Shares. (a) All To insure the availability for delivery of Participant's Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Participant hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Committee as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Committee, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit C to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Committee, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Participant attached as Exhibit D to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company's Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Participant the certificate or certificates representing such Shares in the escrow agent's possession belonging to Participant in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit D to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any assets or other securities received by virtue or distributed to Participant with respect to, in exchange for or in substitution of any such change Participant will in his Unreleased Shares are held by the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such assets or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or other securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement and held in escrow pending release of the Unreleased Shares with respect to which such assets or other securities relate from the Company's Repurchase Option (or, if such Unreleased Shares are no longer outstanding, until such time as such Unreleased Shares would have been released from the Company's Repurchase Option pursuant to this Agreement).

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Cancervax Corp)

Escrow of Shares. (ai) All To ensure the availability for delivery of Participant’s Unreleased Shares upon exercise of Restricted Stock the Repurchase Option by the Company, Participant will, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”)) the share certificates representing the Unreleased Shares, together with the Assignment Separate from Certificate (the “Stock Assignment”) duly endorsed in blank, attached hereto as Exhibit B-1. The Unreleased Shares of Restricted and Stock will Assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Participant attached as Exhibit B-2 hereto, until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderCompany’s Repurchase Option expires. (bii) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (ciii) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Companysuch transfer. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Unreleased Shares of Restricted Stock to the Company upon such termination. (b) (iv) When the Repurchase Option has been exercised or expires unexercised or a portion of the Shares has been released from such Repurchase Option, upon Participant’s request the Escrow Holder shall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or Participant, as the case may be. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (ev) Subject to the terms hereof, Participant will shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (fvi) In the event of any dividend or other distribution (whether in the form of cashmerger, Sharesreorganization, other securities, or other property)consolidation, recapitalization, separation, liquidation, stock split, reverse stock split, reorganization, merger, consolidationdividend, split-up, spin-off, share combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the SharesCommon Stock, the Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will shall in his or her capacity as owner of unvested Unreleased Shares of Restricted Stock that have been awarded to him or her be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will shall thereupon be considered to be unvested Shares of Restricted Stock “Unreleased Shares” and will shall be subject to all of the conditions and restrictions which were applicable to the unvested Unreleased Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted StockUnreleased Shares, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will shall be considered to be unvested Unreleased Shares of Restricted Stock and will shall be subject to all of the conditions and restrictions which were applicable to the unvested Unreleased Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Stock Option Agreement (Fluidigm Corp)

Escrow of Shares. (a) All Shares shall be held in escrow until payment in full of Restricted Stock willthe note (if any) referred to on the cover page and thereafter all Unvested Shares shall be held in escrow by the Company, upon execution of this Award Agreement, be delivered and deposited with an as escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as is hereby directed to transfer the Unvested Shares of Restricted Stock vest in accordance with this agreement or instructions signed by both the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for Stockholder and the Company. If the Company or any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of assignee exercises its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonrepurchase rights hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the Company or such assignee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Companysuch transfer. Participant The Stockholder hereby appoints grants the Escrow Holder with full an irrevocable power of substitution, as Participant's true and lawful attorney‑in‑fact attorney coupled with irrevocable power and authority in the name and on behalf of Participant an interest to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary actions required to transfer the certificate or certificates evidencing effect such unvested Shares of Restricted Stock to the Company upon such termination. (d) transfer. The Escrow Holder will take all steps necessary may act in reliance upon advice of counsel in reference to accomplish any matter(s) connected with this agreement, and shall not be liable for any mistake of fact or error of judgment, or for any acts or omissions of any kind, unless caused by its willful misconduct or gross negligence. With respect to any Unvested Shares that become Vested Shares, the transfer Company, upon the written request of the Stockholder, shall promptly issue a new certificate for the number of shares which have become Vested Shares of Restricted Stock and shall deliver such certificate to Participant after they vest following Participant’s request that the Stockholder and shall deliver to the Escrow Holder do so. (e) a new certificate for the remaining Unvested Shares in exchange for the certificate then being held by the Escrow Holder. Subject to the terms hereof, Participant will the Stockholder shall have all the rights of a stockholder with respect to the Unvested Shares while they are held in escrow, including without limitation, the right to vote the Unvested Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time while the event of any dividend or other distribution (whether in the form of cash, Escrow Holder is holding Unvested Shares, other securities, or other property), recapitalizationthere is any stock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in or respecting such shares, any and all new, substituted or additional securities to which the corporate structure Stockholder is entitled by reason of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner ownership of unvested the Unvested Shares of Restricted Stock shall be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Holder and included thereafter as “Unvested Shares” for purposes of this agreement and the repurchase rights of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (Mevion Medical Systems, Inc.)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact attorney in fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder shareholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Oak Valley Bancorp)

Escrow of Shares. (a) All Shares of Restricted Stock willImmediately prior to the Effective Time, upon execution of this Award Agreement, be delivered and deposited with an escrow holder (the "Escrow") shall be established with a bank or trust company designated by the Company Parent and reasonably acceptable to the Holder (the "Escrow Holder”Agent") on the terms set forth in Sections 9.7 through 9.10 (collectively, the "Escrow Terms"). At the Closing, the Escrow Shares shall be deposited with the Escrow Agent by the Parent. The Escrow shall be established pursuant to an escrow agreement (the "Escrow Agreement") between the parties hereto containing substantially the Escrow Terms and in the form attached hereto as Exhibit F with such changes as are reasonably requested by the Escrow Agent. The Escrow Shares and any Additional Escrow Shares shall constitute the escrow fund (the "Escrow Fund") and to be governed by the Escrow Terms and the Escrow Agreement. Subject to the terms and conditions of Restricted Stock this Agreement and the Escrow Agreement, the Escrow Fund shall be available to satisfy Holder's indemnity obligations under this Article IX. Anything to the contrary in this Agreement notwithstanding, the Holder shall have the right to require the Parent Indemnitees to collect on their indemnity claims against the Holder under this Agreement by first pursuing and seeking recovery against the Escrow Shares (with the Escrow Shares used to satisfy such indemnity obligations valued at the Merger Share Per Share Value) rather than seeking a cash indemnity payment from the Holder (providing that the foregoing shall not preclude the Parent Indemnities from seeking such cash payments in the event the Escrow Shares are exhausted). In the event Parent issues any Additional Escrow Shares, such shares will be held by Escrow Agent in the same manner as the Escrow Holder until such time as Shares delivered at the Shares Closing. The Parent shall pay the fees and expenses of Restricted Stock vest or the date Participant ceases to be a Service ProviderEscrow Agent. (b) The Escrow Holder will not be liable Except for any act it may do or omit to do with respect to holding the Shares of Restricted Stock dividends paid in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder declared with respect to the Escrow Shares while they ("Additional Escrow Shares"), which shall be treated as Escrow Shares pursuant to Section 9.7(a) hereof, any cash dividends, dividends payable in securities or other distributions of any kind made in respect of the Escrow Shares will be promptly delivered and paid to the Holder. The Holder will have all voting rights with respect to the Escrow Shares deposited in the Escrow Fund so long as such Escrow Shares are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changedEscrow, and by virtue of any such change Participant Parent will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled take all reasonable steps necessary to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by allow the exercise of such rights or warrants rights. While the Escrow Shares remain in the Escrow Fund pursuant to this Agreement, the Holder will be considered to be unvested Shares of Restricted Stock retain and will be subject able to exercise all other incidents of the conditions and restrictions which were applicable to the unvested ownership of said Escrow Shares of Restricted Stock pursuant to that are not inconsistent with this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Merger Agreement (Micro General Corp)

Escrow of Shares. (a) All The Participant hereby authorizes and directs the secretary of the Company, or such other person designated by the Board, to transfer any Unreleased Shares which have been forfeited by the Participant to the Company. (b) To insure the availability for delivery of Restricted Stock willthe Participant’s Unreleased Shares in the event of forfeiture of such Shares by the Participant pursuant to Section 3, the Participant hereby appoints the secretary, or any other person designated by the Board as escrow agent, as its attorney-in-fact to assign and transfer unto the Company, any Unreleased Shares forfeited by the Participant pursuant to Section 3 and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder the secretary of the Company, or such other person designated by the Company (Board, the “Escrow Holder”). share certificate or certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached hereto as Exhibit A. The Unreleased Shares of Restricted Stock will and stock assignment shall be held by the secretary in escrow, pursuant to the Joint Escrow Holder Instructions of the Company and the Participant attached as Exhibit B hereto, until (i) the Shares are forfeited by the Participant as provided in Section 3, (ii) such Unreleased Shares are released from the Forfeiture Restriction or (iii) until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to the Participant the certificate or certificates representing such Shares in the escrow agent’s possession belonging to the Participant in accordance with the terms of Restricted Stock vest the Joint Escrow Instructions and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or the date Participant ceases certificates as escrow agent if so required pursuant to be a Service Providerother restrictions imposed pursuant to this Agreement. (bc) The Escrow Holder will Company, or its designee, shall not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgmentfaith. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Boston Gear LLC)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgmentjudgment and the Company shall hold Escrow Holder harmless from any and all such liability, including attorney's fees and other expenses of defending against the assertion of any such claim. (c) Upon Participant’s termination as a Service Provider for any reasonIf the Company exercises its Forfeiture Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Forfeiture Option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from such Forfeiture Option, upon Employee's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or the Employee, as the case may be. (e) Subject to the terms hereof, Participant will the Employee shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's Forfeiture Option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Employee is entitled by reason of the Employee's ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's Forfeiture Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Avanex Corp)

Escrow of Shares. (a) All To ensure the availability for delivery of the Shareholder’s Unreleased Shares of Restricted Stock willupon repurchase by the Company pursuant to the Company’s repurchase option under Section 2 above, the Shareholder shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”)) the share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached hereto as Exhibit B-1. The Unreleased Shares of Restricted Stock will and stock assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Shareholder attached as Exhibit B-2 hereto, until such time as the Shares Company’s repurchase option expires. As a further condition to the Company’s obligations under this Agreement, the spouse of Restricted Stock vest or Shareholder, if any, shall execute and deliver to the date Participant ceases to be a Service ProviderCompany the Consent of Spouse attached hereto as Exhibit B-3. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its repurchase option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer repurchase option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participanthas been released from such repurchase option, upon Shareholder’s request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or the Shareholder, as the case may be. (e) Subject to the terms hereof, Participant will the Shareholder shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company’s repurchase option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Shareholder is entitled by reason of the Shareholder’s ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as “Shares” for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany’s repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Repurchase Option Agreement (Fermavir Pharmaceuticals, Inc.)

Escrow of Shares. (a) All Shares To ensure the availability for delivery of the Restricted Stock willdue to the Company's Forfeiture Right, on behalf of Grantee the Company shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the "Escrow Holder”)") the share certificates representing the Restricted Stock, together with the Assignment Separate from Certificate (the "Stock Assignment") duly endorsed by Grantee in blank, attached hereto as Exhibit X- 0. The Shares of Restricted Stock will and Stock Assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Grantee attached as Exhibit A-2 hereto, until such time as the Shares later of Restricted Stock vest or (i) the date Participant ceases to be a Service Provider. the Company's Forfeiture Right lapses, or (bii) the termination of the Escrow Period. The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) . Upon Participant’s termination as a Service Provider for any reasonthe occurrence of an event triggering the Company's Forfeiture Right, the Escrow Holder, upon receipt of written notice of such terminationevent, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints When the Company's Forfeiture Right is triggered or upon the lapse of such Forfeiture Right, upon the Company's or Grantee's request, as the case may be, the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant shall promptly cause a new certificate to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing issued for such unvested released Shares of Restricted Stock and shall deliver such certificate to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish or Grantee, as the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) case may be. Subject to the terms hereof, Participant will Grantee shall have all the rights of a stockholder with respect to the such Shares of Restricted Stock while they are held in escrow, including without limitation, the right to vote the Shares of Restricted Stock and to receive any cash dividends declared thereon. . If, from time to time during the term the Restricted Stock is subject to the Company's Forfeiture Right, there is (fi) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalizationstock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in the corporate structure Shares, or (ii) any merger or sale of all or substantially all of the Company affecting assets or other acquisition of the SharesCompany, any and all new, substituted or additional securities to which Grantee is entitled by reason of Grantee's ownership of the Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be immediately subject to all of this escrow, deposited with the conditions Escrow Holder and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of included thereafter as "Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants " for purposes of this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's Forfeiture Right. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Agreement (Rational Software Corp)

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Escrow of Shares. (a) All To insure the availability for delivery of Xxxxxx’s Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit C to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Holder attached as Exhibit D to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company’s Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Holder the certificate or certificates representing such Shares in the escrow agent’s possession belonging to Holder in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit D to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company’s Repurchase Option.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Ambassadors International Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant the Employee ceases to be a Service ProviderProvider of the Company. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participantthe Employee’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant The Employee hereby appoints the Escrow Holder with full power of substitution, as Participant's the Employee’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant the Employee to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant the Employee after they vest following Participantthe Employee’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant the Employee will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Echelon Corp)

Escrow of Shares. (a) All To ensure the availability for delivery of Purchaser's Unreleased Shares upon exercise of Restricted Stock willthe Repurchase Option by the Company, Purchaser shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”)"ESCROW HOLDER") the share certificates representing the Unreleased Shares, together with the Assignment Separate from Certificate (the "STOCK ASSIGNMENT") duly endorsed in blank, attached hereto as EXHIBIT A-1. The Unreleased Shares of Restricted and Stock will Assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser attached as EXHIBIT A-2 hereto, until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderCompany's Repurchase Option expires. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationthe option exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from the Repurchase Option, upon Purchaser's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver the certificate to the Company or Purchaser, as the case may be. (e) Subject to the terms hereof, Participant will Purchaser shall have all the rights equivalent to those of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. . (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (Overhill Farms Inc)

Escrow of Shares. (a) All To insure the availability for delivery of Xxxxxx’s Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the 4-Year Time Based Vesting Restricted Stock Award 7/08 Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit D to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Holder attached as Exhibit E to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company’s Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Holder the certificate or certificates representing such Shares in the escrow agent’s possession belonging to Holder in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit E to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company’s Repurchase Option.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Leap Wireless International Inc)

Escrow of Shares. (a) All Shares As security for the faithful performance of Restricted Stock will, upon execution the terms of this Award AgreementAgreement and to ensure the availability for delivery of the unvested Common Shares in case of an exercise of the Purchase Option, be delivered Purchaser shall deliver to and deposited deposit with an the escrow holder designated by the Company agent (the "Escrow Holder”Agent") named in the joint escrow instructions attached hereto as Annex B (the "Joint Escrow Instructions"), stock assignments duly endorsed (with date and number of shares blank) in the appropriate form attached hereto as Annex C, together with the certificate or certificates evidencing the shares of Common Stock purchased hereunder by Purchaser. The Shares of Restricted Stock will Such documents are to be held by the Escrow Holder until such time Agent and delivered by the Escrow Agent pursuant to the terms of the Joint Escrow Instructions, which shall be executed by Purchaser and the Company and delivered to the Escrow Agent concurrently with the execution of this Agreement. As promptly as the Shares of Restricted Stock vest or the practicable after each vesting date Participant ceases to be a Service Provider. under this Agreement (b) The Escrow Holder will not be liable for any act it may do or omit to do but, with respect to holding ETA Stock, only after the Shares of Restricted Stock in escrow while acting in good faith and in Company is able to determine whether or not the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonapplicable Performance Criteria have been met), the Company shall notify Purchaser and the Escrow HolderAgent in writing of the aggregate vesting and non-vesting to that date of Common Shares and ETA Stock, and the Escrow Agent shall, within 30 days after receipt of such notice, deliver to Purchaser certificates representing that number of Purchaser's Common Shares that such notice states have become vested (less such shares, the certificates for which have been previously delivered). From time to time, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change the Escrow Agent shall deliver to the Company certificates representing that number of Common Shares which the Company shall have purchased upon exercise of the Purchase Option, unless Purchaser objects in the corporate structure manner provided in the Joint Escrow Instructions. In the case of any conflict or inconsistency between this Section 5 and the Company affecting the SharesJoint Escrow Instructions, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsJoint Escrow Instructions shall control. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Silver Cinemas International Inc)

Escrow of Shares. (a) All To ensure the availability for delivery of the Purchaser’s Unreleased Shares of Restricted Stock willupon repurchase by the Company pursuant to the Company’s repurchase option under Section 3 above, the Purchaser shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Secretary of the Company (the “Escrow Holder”)) the share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached hereto as Exhibit A-1. The Unreleased Shares of Restricted Stock will and stock assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser attached as Exhibit A-2 hereto, until such time as the Shares Company’s repurchase option expires. As a further condition to the Company’s obligations under this Agreement, the spouse of Restricted Stock vest or Purchaser, if any, shall execute and deliver to the date Participant ceases to be a Service ProviderCompany the Consent of Spouse attached hereto as Exhibit A-3. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its repurchase option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer repurchase option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participanthas been released from such repurchase option, upon Purchaser’s request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or the Purchaser, as the case may be. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company’s repurchase option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser’s ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as “Shares” for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany’s repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (Pawfect Foods Inc)

Escrow of Shares. (a) All The Shares of Restricted Stock will, upon execution of issued under this Award Agreement, Agreement shall be delivered and deposited with held by an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held , along with a stock assignment executed by the Escrow Holder Purchaser in blank, until such time as the Shares expiration of Restricted Stock vest or the date Participant ceases to be a Service ProviderRepurchase Option. (b) The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Holder, he shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company’s board of directors (the “Board”). The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his own judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises the Repurchase Option, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participanthas been released from the Repurchase Option, upon Purchaser’s request that request, the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Purchaser. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. . If, from time to time during the term of the Repurchase Option, there is (fi) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalizationstock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of his ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as “Shares” for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsRepurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (Cloudastructure, Inc.)

Escrow of Shares. To insure the availability for delivery of Assignee’s Unreleased Shares in the event of forfeiture of such Shares pursuant to paragraph 5, Assignee hereby appoints the Secretary of the Company (a) All Shares of Restricted Stock willthe “Secretary”), or any other person appointed by the Secretary, as escrow agent (“Escrow Agent”), as his attorney-in-fact to assign and transfer unto Assignor such Unreleased Shares, if any, forfeited by Assignee pursuant to Paragraph 5 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company Escrow Agent five original stock assignments duly endorsed in blank, each in the form attached hereto as Exhibit B. Unreleased Shares (the “Escrow Holder”). The Shares of Restricted Stock will together with any other assets contemplated in paragraph 3) and stock assignments shall be held by the Escrow Holder Agent in escrow, pursuant to the Joint Escrow Instructions of Assignor and Assignee, attached hereto Exhibit C (the “Joint Escrow Instructions”), until (i) such portion of the Unreleased Shares are forfeited by Assignee as provided in paragraph 5, (ii) any portion of the Unreleased Shares are released from the Forfeiture Restriction, or (iii) such time as this Agreement is no longer in effect. Upon release of any portion of the Unreleased Shares of Restricted Stock vest or from the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonForfeiture Restriction, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary Agent shall deliver to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer Assignee the certificate or certificates evidencing (or instruct the Company’s transfer agent to make appropriate book-entry positions) representing such unvested portion of the Shares in the Escrow Agent’s possession in accordance with the terms of Restricted Stock to the Company upon such termination. (d) The Joint Escrow Holder will take Instructions, and the Escrow Agent shall be discharged of all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request further obligations hereunder; provided, however, that the Escrow Holder do so. (e) Subject Agent shall nevertheless retain such certificate or certificates as Escrow Agent if so required pursuant to the terms hereof, Participant will have all the rights of a stockholder with respect other restrictions imposed pursuant to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive this Agreement. If any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in distributions are paid on the form of cashUnreleased Shares held by the Escrow Agent pursuant to this paragraph 8 and the Joint Escrow Instructions, Shares, other securities, such dividends or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release from the Forfeiture Restrictions of the portion of the Unreleased Shares with respect to which such dividends or other distributions were paid.

Appears in 1 contract

Samples: Share Transfer Agreement (Thompson Anthony W)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) . The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) . Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) . The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) . Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) . In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) . The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Agreement (Sierra Monitor Corp /Ca/)

Escrow of Shares. (a) All Unvested Shares of Restricted Stock willshall be held in escrow by the Company, upon execution of this Award Agreement, be delivered and deposited with an as escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as is hereby directed to Transfer the Unvested Shares of Restricted Stock vest in accordance with this agreement or instructions signed by both the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for Stockholder and the Company. If the Company or any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of assignee exercises its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonrepurchase rights hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the Company or such assignee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Companysuch Transfer. Participant The Stockholder hereby appoints grants the Escrow Holder with full an irrevocable power of substitution, as Participant's true and lawful attorney‑in‑fact attorney coupled with irrevocable power and authority in the name and on behalf of Participant an interest to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary actions required to transfer the certificate or certificates evidencing effect such unvested Shares of Restricted Stock to the Company upon such termination. (d) Transfer. The Escrow Holder will take all steps necessary may act in reliance upon advice of counsel in reference to accomplish any matter(s) connected with this agreement, and shall not be liable for any mistake of fact or error of judgment, or for any acts or omissions of any kind, unless caused by its willful misconduct or gross negligence. With respect to any Unvested Shares that become Vested Shares, the transfer Company, upon the written request of the Stockholder, shall promptly issue a new certificate for the number of shares which have become Vested Shares of Restricted Stock and shall deliver such certificate to Participant after they vest following Participant’s request that the Stockholder and shall deliver to the Escrow Holder do so. (e) a new certificate for the remaining Unvested Shares in exchange for the certificate then being held by the Escrow Holder. Subject to the terms hereof, Participant will the Stockholder shall have all the rights of a stockholder with respect to the Unvested Shares while they are held in escrow, including without limitation, the right to vote the Unvested Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time while the event of any dividend or other distribution (whether in the form of cash, Escrow Holder is holding Unvested Shares, other securities, or other property), recapitalizationthere is any stock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in or respecting such shares, any and all new, substituted or additional securities to which the corporate structure Stockholder is entitled by reason of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner ownership of unvested the Unvested Shares of Restricted Stock shall be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Holder and included thereafter as “Unvested Shares” for purposes of this agreement and the repurchase rights of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Fleetcor Technologies Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property)a reorganization, recapitalization, stock split, reverse stock splitdividend, reorganizationextraordinary cash dividend, combination of shares, merger, consolidation, split-rights offering, spin off, split off, split up, spin-off, combination, repurchase, or exchange of any other event identified by the Administrator affecting Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Sharesoccurs, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stockshares, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stockshares, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock Shares to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (China Biologic Products, Inc.)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereonthereon as when the Shares are released from escrow. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of 8854564_1.DOC Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Shares of Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Inogen Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will issued under this Agreement shall be held by the Escrow Holder Holder, along with a stock assignment executed by the Purchaser in blank, until the expiration of the Company's option to repurchase such time Shares as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Providerset forth above. (b) The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Holder, the Escrow Holder shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company's Board of Directors. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its the Escrow Holder's own judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its repurchase option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer repurchase option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from such repurchase option and provided the Note has been paid in full, upon Purchaser's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Purchaser. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's repurchase option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser's ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (Axys Pharmecueticals Inc)

Escrow of Shares. (a) All Shares of Restricted Stock which is the subject of the Grant will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock which is the subject of the Grant will be held by the Escrow Holder until such time as the Shares of such Restricted Stock vest vests or the date Participant ceases to be Grantee incurs a Service ProviderTermination of Service. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon ParticipantXxxxxxx’s termination as a Termination of Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such terminationTermination of Service, will take all steps necessary to accomplish the transfer to the Company of the unvested Shares of Restricted Stock to which is the Companysubject of the Grant. Participant Grantee hereby appoints the Escrow Holder with full power of substitution, as Participant's Xxxxxxx’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant Grantee to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationTermination of Service. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of such Restricted Stock to Participant Grantee after they vest vesting, following ParticipantXxxxxxx’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant Grantee will have all the rights of a stockholder with respect to the Shares represented by the Restricted Stock which is the subject of the Grant while they are held in escrow, including without limitation, the right to vote the such Shares and the right to receive any dividends; provided, however, the Grantee agrees that cash dividends declared thereonthereon while the Restricted Stock which is the subject of the Grant remains held in escrow (except with respect to such Restricted Stock held in escrow with respect to which the Grantee has made an election to be taxed immediately under Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”)) shall constitute compensation (and not a dividend), subject to applicable tax withholding, solely for tax purposes and for purposes of the Amended and Restated Limited Partnership Agreement of Silver Bay Operating Partnership L.P., a Delaware limited partnership, dated as of December 19, 2012. (f) In the event If, by virtue of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property)distribution, recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of represented by the unvested Restricted Stock will be increased, reduced which are the subject of the Grant are increased or decreased or otherwise changedchanged or modified, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new exchanged or additional or different shares of stockconverted, cash or securities (other than rights or warrants to purchase securities); then such new or additional or different changed or modified Shares or shares, cash securities or securities other property (including cash) received by the Grantee with respect to such unvested Restricted Stock will thereupon be considered to be held in the same manner as is held the unvested Shares of Restricted Stock and will be pursuant to this Agreement, subject to all of the terms, conditions and restrictions (including without limitation the terms of this Agreement providing for the lapse of such restrictions, and forfeiture, and the provisions of Paragraph 2(a) through (e) above and Paragraph 2(g) below) which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant Similarly, if Grantee receives rights or warrants with respect to any unvested Shares Restricted Stock which is the subject of Restricted Stockthe Grant, such rights or warrants may be held or exercised by ParticipantGrantee, provided that until such exercise any such rights or warrants and after such exercise any Shares or shares or other securities acquired by or upon the exercise of such rights or warrants will be considered to be unvested or treated on the same terms as Shares of unvested Restricted Stock Stock, and will be held in the same manner as is held the unvested Restricted Stock pursuant to this Agreement, subject to all of the terms, conditions and restrictions (including without limitation the terms of this Agreement providing for the lapse of such restrictions, and forfeiture, and the provisions of Paragraph 2(a) through (e) above and Paragraph 2(g) below) which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator Committee in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stockShares or shares, cash or securities, property (including cash), rights or warrants to purchase securities warrants, or Shares or shares or other securities acquired by or upon the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Agreement (Silver Bay Realty Trust Corp.)

Escrow of Shares. At the time and date as of which the consummation of the transactions contemplated by the Purchase Agreement is required to take place (athe "Closing Date"), Purchaser shall deliver to the Escrow Agent a certificate or certificates for 150,000 shares of the common stock of Purchaser, $.01 par value (the "Purchaser Common Stock"), to be issued in the name of "LaSalle Bank National Association, as Escrow Agent", 100,000 shares of which shall be "Contingent Shares" and 50,000 of which shall be "Escrow Shares"; provided, however, that for certain purposes the Contingent Shares shall also be deemed to be Escrow Shares, as provided in Section 3(b) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered . The Escrow Agent agrees to accept delivery of the Escrow Shares and deposited with to hold the Escrow Shares in an escrow holder designated by the Company account (the "Escrow Holder”)Account") subject to the terms and conditions of this Agreement. The Escrow Shares of Restricted Stock will shall be held by as an escrow fund and shall not be subject to any lien, attachment, trustee process or any other judicial process of any creditor of any party hereto. Notwithstanding this Section 1(a), if the Escrow Holder until such time as the Shares of Restricted Stock vest Account shall be attached, garnished, or levied upon pursuant to judicial process, or the date Participant ceases delivery of funds held in the Escrow Account shall be stayed or enjoined by any court order, or any court order shall be made or entered into affecting the Escrow Account, or any part thereof, the Escrow Agent is hereby expressly authorized to be a Service Provider. (b) The obey and comply with such judicial process or court order. In the event the Escrow Holder will Agent obeys or complies with any judicial process or court order, it shall not be liable for to Purchaser, Seller or the Shareholders' Representative, nor to any act it may do other person, firm or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice corporation by reason of such terminationcompliance, will take all steps necessary to accomplish notwithstanding the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitutionsubsequent reversal, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instrumentsmodification, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securitiesannulment, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise setting aside of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantscourt order. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (Imageware Systems Inc)

Escrow of Shares. In order to facilitate the performance of the ---------------- Optionee's obligations under this Agreement, the Optionee agrees to the following escrow provisions: (a) All Shares of Restricted Stock will, upon execution Until the provisions of this Award Section 15 terminate, as specified in Section 8 hereof, all Shares purchased pursuant to this Agreement, whether or not such Shares are at the time Vested Shares (the "Unreleased Shares"), shall be delivered and deposited with an held in escrow by the Company, as escrow holder designated ("Escrow Holder"), together with a stock assignment executed by the Company (the “Escrow Holder”)Optionee. The Escrow Holder is hereby directed to permit transfer of the Unreleased Shares of Restricted Stock will be held only in accordance with this Agreement or instructions signed by both the Optionee and the Company. In the event further instructions are desired by the Escrow Holder, the Escrow Holder until such time as shall be entitled to rely upon directions executed by a majority of the Shares members of Restricted Stock vest the Board. The Escrow Holder Shall have no personal liability for any act or omission hereunder while acting in good faith in the date Participant ceases to be a Service Providerexercise of the Escrow Holder's own judgment. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding If the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of Company exercises its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonrepurchase rights hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the Company, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationrepurchase. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (ec) Subject to the terms hereof, Participant will the Optionee shall have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. If, from time to time while the Escrow Holder is holding Unreleased Shares, there is (i) any stock dividend, stock split or other change in the Shares, or (ii) any merger or sale of all or substantially all of the assets or other acquisition of the Company, any and all new, substituted or additional securities to which the undersigned is entitled by reason of his or her ownership of the Unreleased Shares shall be immediately subject to this escrow, deposited with the Escrow Holder and included thereafter purchaser as "Shares" for purposes of this Agreement and the Company's repurchase rights under Sections 5 and 6 hereof. (d) It is understood and agreed that should any dispute arise with respect to the delivery, ownership or right of possession of the Shares or other securities held by the Escrow Holder hereunder, the Escrow Holder is authorized and directed to retain in the Escrow Holder's possession without liability to anyone all or any part of said Shares or other securities until such dispute shall have been settled either by mutual written agreement of the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but the Escrow Holder shall be under no duty whatsoever to institute or defend any such proceedings. (e) The Escrow Holder reserves the right, upon notice to the Company and the Optionee, to resign from the Escrow Holder's duties as Escrow Holder and to appoint a substitute Escrow Holder. (f) In The responsibility of the event Escrow Holder hereunder is limited to the use of good faith and reasonable care in the performance of the Escrow Holder's obligations, and the Escrow Holder shall not be liable for the performance of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will duties except those expressly provided by this Agreement to be increased, reduced or otherwise changedperformed. The Escrow Holder may rely, and shall be protected in acting or refraining from acting, upon any written notice or request furnished to the Escrow Holder hereunder and believed by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered the Escrow Holder to be unvested Shares of Restricted Stock genuine and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights have been signed or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired presented by the exercise of such rights proper party or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsparties. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Centene Corp)

Escrow of Shares. Notwithstanding anything to the contrary contained in this Article II, at the Effective Time, shares of Common Stock and Series E Preferred Stock representing, in the aggregate, two percent of the Fully Diluted Merger Consideration (aas defined below) All Shares of Restricted Stock will(the "Escrowed Shares") issuable to each person or entity holding Mollxx Xxxmon Stock, upon execution of this Award AgreementMollxx Xxxferred Stock, Units and/or Working Capital Notes (each, an "Escrow Participant"), shall not be delivered by ServiceWare to such Escrow Participant upon surrender of its Mollxx Xxxmon Stock, Mollxx Xxxferred Stock, Units and/or Working Capital Notes and shall instead be deposited in escrow with an escrow holder designated agent selected by the Company ServiceWare and reasonably satisfactory to Mollxx (the “xxe "Escrow Holder”Agent"). The ServiceWare shall deliver into escrow, on behalf of each Escrow Participant, certificates representing shares of ServiceWare Common Stock and ServiceWare Series E Preferred Stock (rounded to the nearest whole share) in the proportion that the Fully Diluted Merger Consideration issuable to such Escrow Participant bears to the Fully Diluted Merger Consideration issuable to all Escrow Participants (in each case without giving effect the escrow of shares pursuant to this Section 2.01 (i)). Each certificate for Escrowed Shares shall be registered in the name of Restricted Stock will be held by the appropriate Escrow Holder until such time as the Shares Participant. As a condition to its receipt of Restricted Stock vest or the date merger consideration hereunder, each Escrow Participant ceases to be shall execute a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do stock power in blank with respect to holding the each certificate for Escrowed Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, shall deliver such stock power to ServiceWare. ServiceWare shall deliver to the Escrow HolderAgent (A) two share certificates, upon receipt of written notice of such terminationtogether with signed stock powers, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held ServiceWare Common Stock deposited in escrow, including without limitation, the right to vote the Shares and to escrow on behalf of each Escrow Participant that will receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether ServiceWare Common Stock in the form Merger, each representing one-half of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the such Escrow Participant's Escrowed Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted ServiceWare Common Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants (B) two share certificates, together with signed stock powers, with respect to any unvested the ServiceWare Series E Preferred Stock deposited in escrow on behalf of each Escrow Participant that will receive ServiceWare Series E Preferred Stock in the Merger, each representing one-half of such Escrow Participant's Escrowed Shares of Restricted ServiceWare Series E Preferred Stock, . The Escrow Agent shall hold such rights or warrants may be held or exercised by Participant, provided that certificates until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered it it is required to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock deliver them pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsSection 2.01(i)(iii). (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Merger Agreement (Serviceware Com Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the "Escrow Holder"). The Shares of Restricted Stock and stock assignment attached hereto as Exhibit C will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest Company's Reacquisition Right expires or the date Participant ceases to be the Participant’s status as a Service ProviderProvider terminates. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon the date the Participant’s termination status as a Service Provider terminates for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Unreleased Shares of Restricted Stock to the Company. The Participant hereby appoints the Escrow Holder with full power of substitution, as the Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of the Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Unreleased Shares of Restricted Stock to the Company upon such termination. (d) The When a portion of the Shares has been released from the Reacquisition Right, upon request, the Escrow Holder will take all steps necessary to accomplish the transfer of the Unreleased Shares of Restricted Stock to Participant after they vest following the Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, the Participant will have all the rights of a stockholder shareholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cashmerger, Sharesreorganization, other securities, or other property)consolidation, recapitalization, separation, liquidation, stock split, reverse stock split, reorganization, merger, consolidationdividend, split-up, spin-off, share combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the SharesCommon Stock, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change the Participant will in his or her capacity as owner of unvested Unreleased Shares of Restricted Stock that have been awarded to him be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Unreleased Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Unreleased Shares of Restricted Stock pursuant to this Award Agreement. If the Participant receives rights or warrants with respect to any unvested Shares of Restricted StockUnreleased Shares, such rights or warrants may be held or exercised by the Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Unreleased Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Unreleased Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Plantronics Inc /Ca/)

Escrow of Shares. (a) All Shares of Restricted Stock will5.1. Each Acquired Share purchased pursuant to this Agreement shall be held in escrow by the Company, upon execution of this Award Agreement, be delivered and deposited with an as escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held , together with a stock power executed in blank by the Escrow Holder Employee, until such time as the Shares Employee shall have satisfied the requirements of Restricted Stock vest or the date Participant ceases Section 6.1 (relating to be a Service Provider. (btax withholdings) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding any taxable income attributable to such Share and either (i) such Acquired Share shall have been repurchased by the Company at the Employee’s Termination Date in accordance with Section 2 (with the remaining Shares issued to the Employee released from these escrow provisions as of Restricted Stock in escrow while acting in good faith and in the exercise of its judgmentEmployee’s Termination Date) or (ii) such Acquired Share shall have become a Vested Share. (c) 5.2. Upon Participant’s termination as a Service Provider for the repurchase of any reasonAcquired Shares by the Company in accordance with the provisions of Section 2, the Company shall pay the repurchase price to the Employee by check and shall have the right, as Escrow Holder, upon receipt of written notice of such termination, will to take all steps necessary to accomplish the transfer of such Shares to it, including but not limited to presentment of certificates representing the unvested Restricted Shares and/or applicable Vested Shares, together with a stock power executed by or in the name of Restricted Stock the Employee appropriately completed by the Escrow Holder, to the Company’s transfer agent with irrevocable instructions to register transfer of such Shares into the name of the Company. Participant The Employee hereby appoints the Company, in its capacity as Escrow Holder with full power of substitutionHolder, as Participant's true his irrevocable attorney-in-fact to execute in his name, acknowledge and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute deliver all documents and instruments, including, without limitation, stock powers which and other instruments as may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock desirable with respect to the Company upon such terminationShares. (d) The Escrow Holder will take all steps necessary to accomplish 5.3. When any portion of the transfer of Restricted Shares of Restricted Stock to Participant after they vest following Participanthave become Vested Shares, upon the Employee’s request that the Company, as Escrow Holder do soHolder, shall promptly cause a new certificate to be issued for such Shares and shall deliver such certificate to Employee. (e) 5.4. Subject to the terms hereof, Participant will the Employee shall have all the rights of a stockholder with respect to the Acquired Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event term of the escrow, there occurs any dividend corporate or other distribution (whether in action giving rise to substituted or additional securities by reason of ownership of the form of cash, Shares, other Shares such substituted or additional securities, or other property)with the legend required by Section 8.3 if applicable, recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be immediately subject to all of this escrow and deposited with the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsEscrow Holder. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Diversa Corp)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder shareholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock Ordinary Shares to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Agreement (Ambarella Inc)

Escrow of Shares. (aA) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will issued under this Agreement shall be held by the Secretary of the Company as escrow holder ("Escrow Holder Holder"), along with a stock assignment executed by the Purchaser in blank, until the expiration of the Company's Repurchase Option with respect to such time Shares as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Providerset forth above. (bB) The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Holder, he shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company's Board of Directors. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his own judgment. (cC) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish such transfer. (D) When the transfer Repurchase Option has been exercised or expires unexercised or a portion of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints has been released from such Repurchase Option, upon Purchaser's request the Escrow Holder with full power of substitution, as Participant's true shall promptly cause a new certificate to be issued for such released Shares and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the shall deliver such certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationPurchaser. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (eE) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's Repurchase Option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of his ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (Petsmart Com Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderProvider (if earlier). (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock (after giving effect to any accelerated vesting resulting from such termination) to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares of Restricted Stock while they are held unvested; provided, however, that if any (x) dividends or distributions are paid in escrow, including without limitationShares or other property, the right Shares or other property will be subject to vote the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid and to receive any (y) dividends are paid in cash, such cash dividends declared thereonwill be withheld (in the Company’s general assets) and paid only upon the vesting of the underlying Shares of Restricted Stock (with such cash dividends to be forfeited upon the forfeiture of the underlying Shares of Restricted Stock). For the avoidance of doubt, Participant may not sell or otherwise dispose of any Shares of Restricted Stock while they are unvested. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company Company, affecting the Shares, in which the Shares of Restricted Stock will be are increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be (if applicable) is entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Global Non Employee Director Restricted Stock Award Agreement (Amkor Technology, Inc.)

Escrow of Shares. (a) All Shares The Recipient hereby authorizes and directs the Secretary of Restricted Stock willthe Company, upon execution of this Award Agreement, be delivered and deposited with an escrow holder or such other person designated by the Company (the “Escrow Holder”). The Board, to transfer all unvested Shares of Restricted Stock will be held which have been forfeited by the Escrow Holder until such time as Recipient to the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderCompany. (b) To insure the availability for delivery of the Recipient’s unvested Shares in the event of forfeiture of such shares by the Recipient pursuant to Section 2.3, the Recipient hereby appoints the Secretary, or any other person designated by the Board as escrow agent, as its attorney-in-fact to assign and transfer unto the Company, any unvested Shares forfeited by the Recipient pursuant to Section 2.2, and shall upon execution of this Agreement deliver and deposit with the Secretary of the Company, or such other person designated by the Board, the share certificate or certificates representing the unvested Shares, together with the stock assignment duly endorsed in blank, attached hereto as Exhibit A. The unvested Shares and stock assignment shall be held by the Secretary in escrow, pursuant to the Joint Escrow Holder will Instructions of the Company and the Recipient attached as Exhibit B hereto, until (i) the Shares are forfeited by the Recipient as provided in Section 2.2, (ii) such unvested Shares are released from the Forfeiture Restriction, or (iii) until such time as this Agreement no longer is in effect. Upon release of the unvested Shares, the escrow agent shall deliver to the Recipient the certificate or certificates representing such shares in the escrow agent’s possession belonging to the Recipient in accordance with the terms of the Joint Escrow Instructions and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. (c) The Company, or its designee, shall not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgmentfaith. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Performance Share Award Agreement (Altra Industrial Motion Corp.)

Escrow of Shares. (a) All Shares of Restricted Stock Executive will, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an Flextronics International Ltd. (or such other escrow holder that may be designated by the Company Company) (the “Escrow Holder”)) the share certificates representing the Unreleased Shares, together with the Share Transfer Form (the “Share Assignment”) duly endorsed in blank, attached hereto as Exhibit A-1. The Unreleased Shares of Restricted Stock will and Share Assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Executive attached as Exhibit A-2 hereto, until such time as the Shares of Restricted Stock vest or the date Participant ceases pursuant to be a Service Providerthis Agreement. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination forfeiture of Unreleased Shares by Executive and related re-purchase of Shares by the Company as a Service Provider for any reasonset out in section 6 (Forfeiture) above, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer shall return the certificate or certificates evidencing such unvested Unreleased Shares of Restricted Stock to the Company upon such terminationand the Company shall arrange for the Company's Register of Members to be updated accordingly. (d) The Escrow Holder will take all steps necessary to accomplish If a portion of the transfer of Shares of Restricted Stock to Participant after they vest following Participanthas vested, upon Executive’s request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or Executive, as the case may be. (e) Subject Executive shall not have any rights to the terms hereof, Participant will have all the rights of a stockholder receive any payments or distributions with respect to any portion of the Shares while they are held that have not vested as of the time of such payments or distributions, in escrow, including without limitation, accordance with the right to vote terms of the Shares M&AA and to receive any cash dividends declared thereonthis Agreement. (f) In the event of any dividend or other distribution (whether in the form of cashmerger, Sharesreorganization, other securities, or other property)consolidation, recapitalization, separation, liquidation, stock split, reverse stock split, reorganization, merger, consolidationor share dividend, split-up, spin-off, share combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will Executive shall in his or her capacity as owner of unvested Unreleased Shares of Restricted Stock that have been awarded to him or her be entitled to new or additional or different shares in the capital of stock, cash the Company or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash shares or securities will shall thereupon be considered to be unvested Shares of Restricted Stock “Unreleased Shares” and will shall be subject to all of the conditions and restrictions which were applicable to the unvested Unreleased Shares of Restricted Stock pursuant to this Award Agreement. If Participant Executive receives rights or warrants with respect to any unvested Shares of Restricted StockUnreleased Shares, such rights or warrants may be held or exercised by ParticipantExecutive, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will shall be considered to be unvested Unreleased Shares of Restricted Stock and will shall be subject to all of the conditions and restrictions which were applicable to the unvested Unreleased Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Share Purchase Agreement (Flextronics International Ltd.)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will issued under this Agreement shall be held by the Escrow Holder Holder, along with a stock assignment executed by the Purchaser in blank, until the expiration of the Company's option to repurchase such time Shares as set forth above. An additional 217,000 shares of the Shares Company's Common Stock which are presently outstanding in the name of Restricted Stock vest or the date Participant ceases to Purchaser shall also be a Service Providerheld in escrow as additional security for the Note. (b) The Escrow Holder will not is hereby directed to permit transfer of the Shares only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Holder, the Escrow Holder shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company's Board of Directors. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its the Escrow Holder's own judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its repurchase option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary When the repurchase option has been exercised or expires unexercised or a portion of the Shares has been released from such repurchase option and provided (i) the Note has been paid in full with respect to accomplish such Shares or (ii) so long as the transfer Note continues to be secured by twice the number of Shares of Restricted Stock shares purchased pursuant to Participant after they vest following Participant’s this Agreement, upon Purchaser's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Purchaser. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's repurchase option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser's ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Stock Purchase Agreement (Spectrx Inc)

Escrow of Shares. (a) All To ensure the availability for delivery of the Unvested Shares upon the occurrence of Restricted Stock willa Forfeiture, the Employee shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). ) the share certificates representing the Unvested Shares, together with the stock assignment duly endorsed in blank, in the form attached hereto as Exhibit B. The Unvested Shares of Restricted Stock will and stock assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Employee attached hereto as Exhibit C, until such time as the Shares have vested. As a further condition to the Company’s obligations under this Agreement, the Company may require the spouse of Restricted Stock vest or Employee, if any, to execute and deliver to the date Participant ceases to be a Service Provider.Company the Consent of Spouse attached hereto as Exhibit D. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unvested Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination Except as a Service Provider otherwise provided herein, if and when the Shares Vest, certificates for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock shares endorsed with appropriate legends (if any) shall be delivered to the Company. Participant hereby appoints Employee 90 days after the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing date such unvested Shares of Restricted Stock to the Company upon such terminationVest. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will the Employee shall have all the rights of a stockholder shareholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event term of this Agreement, there is any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalizationstock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securitiesas a result of a Change of Control); such new , any and all new, substituted or additional or different shares, cash or securities will thereupon to which the Employee is entitled by reason of the Employee’s ownership of the Shares shall be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Holder and included thereafter as “Shares” for purposes of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Performance Shares Grant Agreement (Associated Banc-Corp)

Escrow of Shares. (a) All To insure the availability for delivery of Xxxxxx's Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit C to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Holder attached as Exhibit D to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company's Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Holder the certificate or certificates representing such Shares in the escrow agent's possession belonging to Holder in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit D to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company's Repurchase Option.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Loudeye Corp)

Escrow of Shares. (a) All Shares of Restricted Stock willshall be held in escrow by the Company, upon execution of this Award Agreement, be delivered and deposited with an as escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as is hereby directed to transfer the Shares of Restricted Stock vest in accordance with this Agreement or instructions signed by both the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for Stockholder and the Company. If the Company or any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of assignee exercises its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonrepurchase rights hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the Company or such assignee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Companysuch transfer. Participant The Stockholder hereby appoints grants the Escrow Holder with full an irrevocable power of substitution, as Participant's true and lawful attorney‑in‑fact attorney coupled with irrevocable power and authority in the name and on behalf of Participant an interest to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary actions required to transfer the certificate or certificates evidencing affect such unvested Shares of Restricted Stock to the Company upon such termination. (d) transfer. The Escrow Holder will take all steps necessary may act in reliance upon advice of counsel in reference to accomplish any matter(s) connected with this Agreement, and shall not be liable for any mistake of fact or error of judgment, or for any acts or omissions of any kind, unless caused by its willful misconduct or gross negligence. With respect to any Unvested Shares that become Vested Shares, the transfer Company may, at the request of the Stockholder option, issue a new certificate for the number of shares which have become Vested Shares of Restricted Stock and shall deliver such certificate to Participant after they vest following Participant’s request that the Stockholder and shall deliver to the Escrow Holder do so. (e) a new certificate for the remaining Unvested Shares in exchange for the certificate then being held by the Escrow Holder. Subject to the terms hereof, Participant will the Stockholder shall have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time while the event of any dividend or other distribution (whether in the form of cash, Escrow Holder is holding Shares, other securities, or other property), recapitalizationthere is any stock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in or respecting such shares, any and all new, substituted or additional securities to which the corporate structure Stockholder is entitled by reason of its ownership of the Company affecting the Shares, the Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Holder and included thereafter as “Unvested Shares” or “Vested Shares,” as applicable, for purposes of this Agreement and the repurchase rights and rights of first refusal of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Stock Restriction Agreement (Revel Entertainment Group, LLC)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock and stock assignment attached hereto as Exhibit A will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest Company’s Reacquisition Right expires or the date Participant ceases to be Purchaser’s status as a Service ProviderProvider terminates. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Unvested Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participantthe date Purchaser’s termination status as a Service Provider terminates for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Unvested Shares of Restricted Stock to the Company. Participant Purchaser hereby appoints the Escrow Holder with full power of substitution, as Participant's Purchaser’s true and lawful attorney‑in‑fact attorney-in-fact with irrevocable power and authority in the name and on behalf of Participant Purchaser to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Unvested Shares of Restricted Stock to the Company upon such termination. (d) The When a portion of the Shares has been released from the Reacquisition Right, upon request, the Escrow Holder will take all steps necessary to accomplish the transfer of the Unvested Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do soPurchaser. (e) Subject to the terms hereof, Participant Purchaser will have all the rights of a stockholder shareholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cashmerger, Sharesreorganization, other securities, or other property)consolidation, recapitalization, separation, liquidation, stock split, reverse stock split, reorganization, merger, consolidationdividend, split-up, spin-off, share combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the SharesCommon Stock, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant Purchaser will in his or her capacity as owner of unvested Unvested Shares of Restricted Stock that have been awarded to him be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant Purchaser receives rights or warrants with respect to any unvested Shares of Restricted StockUnvested Shares, such rights or warrants may be held or exercised by ParticipantPurchaser, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator Board in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (Plantronics Inc /Ca/)

Escrow of Shares. (a) All Shares of Restricted The Founders' Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by subject to the Company (the “Escrow Holder”). The Shares of Restricted Stock will Repurchase Option shall be held by the Escrow Holder Agent, along with stock assignments executed by each Founder in blank, until the expiration of the Company's option to repurchase such time Founders' Stock as set forth above. The fees of the Shares of Restricted Stock vest or Escrow Agent shall be paid by the date Participant ceases to be a Service ProviderCompany. (b) The Escrow Holder will not Agent is hereby directed to permit transfer of the Founders' Stock only in accordance with this Agreement or instructions signed by both parties. In the event further instructions are desired by the Escrow Agent, the Escrow Agent shall be liable entitled to rely upon directions executed by a majority of the authorized number of the Company's Board of Directors. The Escrow Agent shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its the Escrow Agent's own judgment.. In the event the Escrow Agent is directed to transfer the Founders' Stock to the Founders, the Escrow Agent shall transfer such shares to the Israeli Trustee for the benefit of the applicable Founder with the joint written direction executed by both parties in the form attached hereto as Exhibit A. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its Repurchase Option hereunder, the Escrow HolderAgent, upon receipt of written notice of such terminationoption exercise from the proposed transferee and a written evidence that the amounts due for the shares have been paid to the Founder, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer Repurchase Option has been exercised or expires unexercised or a portion of Shares of Restricted the Founders' Stock to Participant after they vest following Participant’s has been released from such Repurchase Option, upon the applicable Founder's request that the Escrow Holder do so.Agent shall promptly cause a new certificate to be issued for such released Founders' Stock and shall deliver such certificate to the Israeli Trustee for the benefit of the applicable Founder with the joint written direction executed by both parties in the form attached hereto as Exhibit A. (e) Subject to the terms hereof, Participant will the applicable Founder shall have all the rights of a stockholder shareholder with respect to such Founders' Stock subject to the Shares Repurchase Option while they are held in escrow, including without limitation, the right to vote the Shares shares of Founders' Stock subject to the Repurchase Option and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's Repurchase Option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Founders' Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to the Repurchase Option, or (ii) any merger or sale of all or substantially all of the conditions assets of or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable each Founder is entitled by reason of the Purchaser's ownership of the Shares shall be immediately subject to this escrow, deposited with the Escrow Agent and included thereafter as "Founders' Stock subject to the unvested Shares Repurchase Option" for purposes of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's Repurchase Option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Repurchase Option Agreement (Liveperson Inc)

Escrow of Shares. (a) 1. All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderProvider (if earlier). (b) 2. The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) 3. Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock (after giving effect to any accelerated vesting resulting from such termination) to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney in fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) 4. The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) 5. Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares of Restricted Stock while they are held unvested; provided, however, that if any (x) dividends or distributions are paid in escrow, including without limitationShares or other property, the right Shares or other property will be subject to vote the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid and to receive any (y) dividends are paid in cash, such cash dividends declared thereonwill be withheld (in the Company’s general assets) and paid only upon the vesting of the underlying Shares of Restricted Stock (with such cash dividends to be forfeited upon the forfeiture of the underlying Shares of Restricted Stock). For the avoidance of doubt, Participant may not sell or otherwise dispose of any Shares of Restricted Stock while they are unvested. (f) 6. In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company Company, affecting the Shares, in which the Shares of Restricted Stock will be are increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be (if applicable) is entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) 7. The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Global Outside Director Restricted Stock Award Agreement (Amkor Technology, Inc.)

Escrow of Shares. (a) All To insure the availability for delivery of Participant’s Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Participant hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Committee as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Committee, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit C to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Committee, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Participant attached as Exhibit D to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company’s Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Participant the certificate or certificates representing such Shares in the escrow agent’s possession belonging to Participant in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit D to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any assets or other securities received by virtue or distributed to Participant with respect to, in exchange for or in substitution of any such change Participant will in his Unreleased Shares are held by the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such assets or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or other securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement and held in escrow pending release of the Unreleased Shares with respect to which such assets or other securities relate from the Company’s Repurchase Option (or, if such Unreleased Shares are no longer outstanding, until such time as such Unreleased Shares would have been released from the Company’s Repurchase Option pursuant to this Agreement).

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (Vnus Medical Technologies Inc)

Escrow of Shares. (a) All If this option is exercised for Unvested Shares, all such Unvested Shares of Restricted Stock willshall be held in escrow by the Company, upon execution of this Award Agreement, be delivered and deposited with an as escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as is hereby directed to transfer the Unvested Shares of Restricted Stock vest in accordance with this agreement or instructions signed by both the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for Optionee and the Company. If the Company or any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of assignee exercises its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonrepurchase rights hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the Company or such assignee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Companysuch transfer. Participant The Optionee hereby appoints grants the Escrow Holder with full an irrevocable power of substitution, as Participant's true and lawful attorney‑in‑fact attorney coupled with irrevocable power and authority in the name and on behalf of Participant an interest to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary actions required to transfer the certificate or certificates evidencing effect such unvested Shares of Restricted Stock to the Company upon such termination. (d) transfer. The Escrow Holder will take all steps necessary may act in reliance upon advice of counsel in reference to accomplish any matter(s) connected with this agreement, and shall not be liable for any mistake of fact or error of judgment, or for any acts or omissions of any kind, unless caused by its willful misconduct or gross negligence. With respect to any Unvested Shares that become Vested Shares, the transfer Company, upon the written request of the Optionee, shall promptly issue a new certificate for the number of shares which have become Vested Shares of Restricted Stock and shall deliver such certificate to Participant after they vest following Participant’s request that the Optionee and shall deliver to the Escrow Holder do so. (e) a new certificate for the remaining Unvested Shares in exchange for the certificate then being held by the Escrow Holder. Subject to the terms hereof, Participant will the Optionee shall have all the rights of a stockholder with respect to the Unvested Shares while they are held in escrow, including without limitation, the right to vote the Unvested Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time while the event of any dividend or other distribution (whether in the form of cash, Escrow Holder is holding Unvested Shares, other securities, or other property), recapitalizationthere is any stock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in or respecting such shares, any and all new, substituted or additional securities to which the corporate structure Optionee is entitled by reason of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner ownership of unvested the Unvested Shares of Restricted Stock shall be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Holder and included thereafter as “Unvested Shares” for purposes of this agreement and the repurchase rights of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement

Escrow of Shares. (aThe certificate(s) All representing all Restricted Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will shall be held by the Escrow Holder until such time as Holder, along with a stock power executed by the Grantee in blank. Grantee directs the Company to deliver all certificates representing Restricted Shares of Restricted Stock vest or to the date Participant ceases to be a Service Provider. (b) Escrow Holder. The Escrow Holder will not is hereby directed to permit transfer of such shares only in accordance with this Agreement, the Stockholders Agreement and the Investors Stockholders' Agreement. In the event further instructions are desired by the Escrow Holder, he shall be liable entitled to rely upon written directions of the Board of Directors of the Company. The Escrow Holder shall have no liability for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow omission hereunder while acting in good faith and in the exercise of its his own judgment. (c) Upon Participant’s termination as a Service Provider for . The Company agrees to indemnify and hold Escrow Holder free and harmless from and against any reasonand all losses, costs, damages, liabilities or expenses, including counsel fees to which Escrow Holder may be put or which he may incur by reason of or in connection with the escrow arrangement hereunder. If the Company or any assignee repurchases any of the Restricted Shares pursuant to Section 3, the Escrow Holder, upon receipt of written notice of such terminationrepurchase from the proposed transferee, will shall take all steps necessary to accomplish such repurchase. From time to time, upon Grantee's request, Escrow Holder shall: (i) cancel the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints certificate(s) held by the Escrow Holder with full power of substitutionand representing Restricted Shares, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in (ii) cause new certificate(s) to be issued representing the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares number of Restricted Stock Shares no longer subject to the Company upon such termination. (drepurchase pursuant to Section 3, which certificate(s) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. shall deliver to Grantee and (eiii) cause new certificate(s) to be issued representing the balance of the Restricted Shares, which certificate(s) shall be held in escrow by the Escrow Holder in accordance with the provisions of this Section 4. Subject to the terms hereof, Participant will Grantee shall have all the rights of a stockholder with respect to the Restricted Shares while they are held in escrow, including without limitation, the right to vote the Restricted Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's repurchase right, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Restricted Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to such Grantee is entitled by reason of his ownership of the unvested Restricted Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested the Escrow Holder and included thereafter as Restricted Shares for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase right. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Agreement (Tritel Finance Inc)

Escrow of Shares. (a) All Unvested Shares of Restricted Stock willshall be held in escrow by the Company, upon execution of this Award Agreement, be delivered and deposited with an as escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (ba) The Escrow Holder will not be liable for is hereby directed to transfer the Unvested Shares in accordance with this Agreement or instructions signed by both the Purchaser and the Company. If the Company or any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of assignee exercises its judgment. (c) Upon Participant’s termination as a Service Provider for any reasonrepurchase rights hereunder, the Escrow Holder, upon receipt of written notice of such terminationexercise from the Company or such assignee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Companysuch transfer. Participant The Purchaser hereby appoints grants the Escrow Holder with full an irrevocable power of substitution, as Participant's true and lawful attorney‑in‑fact attorney coupled with irrevocable power and authority in the name and on behalf of Participant an interest to take any action and execute all documents actions required to effect such transfer. (b) The Escrow Holder may act in reliance upon advice of counsel in reference to any matter(s) connected with this Agreement, and instrumentsshall not be liable for any mistake of fact or error of judgment, includingor for any acts or omissions of any kind, without limitationunless caused by its willful misconduct or gross negligence. (c) With respect to any Unvested Shares that become Vested Shares, stock powers the Company shall promptly release and issue a new certificate for the number of shares which may be necessary have become Vested Shares and shall deliver such certificate to transfer the Purchaser and shall deliver to the Escrow Holder a new certificate for the remaining Unvested Shares in exchange for the certificate or certificates evidencing such unvested Shares of Restricted Stock to then being held by the Company upon such terminationEscrow Holder. (d) The Escrow Holder will take all steps necessary If, from time to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that time while the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, is holding Unvested Shares, other securities, or other property), recapitalizationthere is any stock dividend, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, split or other change in or respecting such shares, any and all new, substituted or additional securities to which the corporate structure Purchaser is entitled by reason of his ownership of the Company affecting the Shares, the Unvested Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be immediately subject to all this escrow, deposited with the Escrow Holder and included thereafter as “Unvested Shares” for purposes of this Agreement and the repurchase rights of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Stock Purchase and Restriction Agreement (Gemini Therapeutics, Inc. /DE)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact attorney in fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares, the Shares of Restricted Stock will be increased, reduced or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Marcus & Millichap, Inc.)

Escrow of Shares. (a) All To insure the availability for delivery of Hxxxxx’s Unreleased Shares upon repurchase by the Company pursuant to the Repurchase Option under Section 3.1, Holder hereby appoints the Secretary of Restricted Stock willthe Company, or any other person designated by the Administrator as escrow agent, as his or her attorney-in-fact to assign and transfer unto the Company, such Unreleased Shares, if any, repurchased by the Company pursuant to the Repurchase Option pursuant to Section 3.1 and any dividends or other distributions thereon, and shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the “Escrow Holder”). The Shares of Restricted Stock will be held by the Escrow Holder until such time as the Shares of Restricted Stock vest or the date Participant ceases to be a Service Provider. (b) The Escrow Holder will not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such termination. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will have all the rights of a stockholder with respect to the Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities Secretary of the Company, or such other change person designated by the Administrator, any share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached to the corporate structure Grant Notice as Exhibit C to the Grant Notice. The Unreleased Shares and stock assignment shall be held by the Secretary of the Company, or such other person designated by the Administrator, in escrow, pursuant to the Joint Escrow Instructions of the Company affecting and Holder attached as Exhibit D to the Grant Notice, until the Company exercises its Repurchase Option as provided in Section 3.1, until such Unreleased Shares are released from the Company’s Repurchase Option, or until such time as this Agreement no longer is in effect. Upon release of the Unreleased Shares, the escrow agent shall deliver to Holder the certificate or certificates representing such Shares in the escrow agent’s possession belonging to Holder in accordance with the terms of Restricted Stock will be increased, reduced or otherwise changedthe Joint Escrow Instructions attached as Exhibit D to the Grant Notice, and the escrow agent shall be discharged of all further obligations hereunder; provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by virtue of any the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such change Participant will in his dividends or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will distributions shall also be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award AgreementAgreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Company’s Repurchase Option.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Peerless Systems Corp)

Escrow of Shares. (a) All To ensure the availability for delivery of the Purchaser's Unreleased Shares of Restricted Stock willupon repurchase by the Company pursuant to the Company's repurchase option under Section 2 above, the Purchaser shall, upon execution of this Award Agreement, be delivered deliver and deposited deposit with an escrow holder designated by the Company (the "Escrow Holder”)") the share certificates representing the Unreleased Shares, together with the stock assignment duly endorsed in blank, attached hereto as Exhibit A-2. The Unreleased Shares of Restricted Stock will and stock assignment shall be held by the Escrow Holder Holder, pursuant to the Joint Escrow Instructions of the Company and Purchaser attached as Exhibit A-3 hereto, until such time as the Shares Company's repurchase option expires. As a further condition to the Company's obligations under this Agreement, the spouse of Restricted Stock vest or Purchaser, if any, shall execute and deliver to the date Participant ceases to be a Service ProviderCompany the Consent of Spouse attached hereto as Exhibit A4. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Unreleased Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for If the Company or any reasonassignee exercises its repurchase option hereunder, the Escrow Holder, upon receipt of written notice of such terminationoption exercise from the proposed transferee, will shall take all steps necessary to accomplish the transfer of the unvested Shares of Restricted Stock to the Company. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Shares of Restricted Stock to the Company upon such terminationtransfer. (d) The Escrow Holder will take all steps necessary to accomplish When the transfer repurchase option has been exercised or expires unexercised or a portion of the Shares of Restricted Stock to Participant after they vest following Participant’s has been released from such repurchase option, upon Purchaser's request that the Escrow Holder do soshall promptly cause a new certificate to be issued for such released Shares and shall deliver such certificate to the Company or the Purchaser, as the case may be. (e) Subject to the terms hereof, Participant will the Purchaser shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In . If, from time to time during the event of any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities term of the Company's repurchase option, there is (i) any stock dividend, stock split or other change in the corporate structure of the Company affecting the Shares, the Shares or (ii) any merger or sale of Restricted Stock will be increased, reduced all or otherwise changed, and by virtue of any such change Participant will in his or her capacity as owner of unvested Shares of Restricted Stock be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will thereupon be considered to be unvested Shares of Restricted Stock and will be subject to substantially all of the conditions assets or other acquisition of the Company, any and restrictions all new, substituted or additional securities to which were applicable to the unvested Purchaser is entitled by reason of the Purchaser's ownership of the Shares of Restricted Stock pursuant shall be immediately subject to this Award Agreement. If Participant receives rights or warrants escrow, deposited with respect to any unvested Shares the Escrow Holder and included thereafter as "Shares" for purposes of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants this Agreement and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will be considered to be unvested Shares of Restricted Stock and will be subject to all of the conditions and restrictions which were applicable to the unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrantsCompany's repurchase option. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (Egroups Inc)

Escrow of Shares. (a) All Shares of Restricted Stock will, upon execution of this Award Agreement, be delivered and deposited with an escrow holder designated by the Company (the “Escrow Holder”), together with the Assignment Separate from Certificate (the “Stock Assignment”) duly endorsed in blank, attached hereto as Exhibit A-1. The Shares of Restricted Stock and the Stock Assignment will be held by the Escrow Holder until such time Holder, pursuant to the Joint Escrow Instructions of the Company and Participant attached as the Shares of Restricted Stock vest or the date Participant ceases to be a Service ProviderExhibit A-2 hereto. (b) The Escrow Holder will shall not be liable for any act it may do or omit to do with respect to holding the Shares of Restricted Stock in escrow and while acting in good faith and in the exercise of its judgment. (c) Upon Participant’s termination as a Service Provider for any reason, the Escrow Holder, upon receipt of written notice of such termination, will take all steps necessary to accomplish the transfer of the unvested Unvested Shares of Restricted Stock to the Company. Upon the occurrence of a Milestone Deadline prior to the achievement of the applicable Milestone, the Escrow Holder, upon receipt of written notice of such failure to achieve the applicable Milestone, will take all steps necessary to accomplish the transfer of the Unvested Shares of Restricted Stock that fail to become Eligible Shares as a result of the occurrence of such Milestone Deadline, as specified in the vesting schedule set forth in the Notice of Grant. Participant hereby appoints the Escrow Holder with full power of substitution, as Participant's ’s true and lawful attorney‑in‑fact with irrevocable power and authority in the name and on behalf of Participant to take any action and execute all documents and instruments, including, without limitation, stock powers which may be necessary to transfer the certificate or certificates evidencing such unvested Unvested Shares of Restricted Stock to the Company upon such terminationtermination or Milestone Deadline. (d) The Escrow Holder will take all steps necessary to accomplish the transfer of Shares of Restricted Stock to Participant after they vest following Participant’s request that the Escrow Holder do so. (e) Subject to the terms hereof, Participant will shall have all the rights of a stockholder shareholder with respect to the such Shares while they are held in escrow, including without limitation, the right to vote the Shares and to receive any cash dividends declared thereon. (f) In the event of any dividend or other distribution (whether in the form of cashmerger, Sharesreorganization, other securities, or other property)consolidation, recapitalization, separation, liquidation, stock split, reverse stock split, reorganization, merger, consolidationdividend, split-up, spin-off, share combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the SharesCommon Stock, the Shares of Restricted Stock will shall be increased, reduced or otherwise changed, and by virtue of any such change Participant will shall in his or her capacity as owner of unvested the Unvested Shares of Restricted Stock that have been awarded to him or her be entitled to new or additional or different shares of stock, cash or securities (other than rights or warrants to purchase securities); such new or additional or different shares, cash or securities will shall thereupon be considered to be unvested “Unvested Shares of Restricted Stock Stock” and will shall be subject to all of the conditions and restrictions which were applicable to the unvested Unvested Shares of Restricted Stock pursuant to this Award Agreement. If Participant receives rights or warrants with respect to any unvested Unvested Shares of Restricted Stock, such rights or warrants may be held or exercised by Participant, provided that until such exercise any such rights or warrants and after such exercise any shares or other securities acquired by the exercise of such rights or warrants will shall be considered to be unvested Unvested Shares of Restricted Stock and will shall be subject to all of the conditions and restrictions which were applicable to the unvested Unvested Shares of Restricted Stock pursuant to this Award Agreement. The Administrator in its absolute discretion at any time may accelerate the vesting of all or any portion of such new or additional shares of stock, cash or securities, rights or warrants to purchase securities or shares or other securities acquired by the exercise of such rights or warrants. (g) The Company may instruct the transfer agent for its Common Stock to place a legend on the certificates representing the Restricted Stock or otherwise note its records as to the restrictions on transfer set forth in this Award Agreement.

Appears in 1 contract

Samples: Restricted Stock Agreement (Juno Therapeutics, Inc.)

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