Common use of Expiration of Award Clause in Contracts

Expiration of Award. Notwithstanding anything to the contrary in this Agreement, if Participant’s rights in and to the shares of Restricted Stock granted hereunder have not vested in accordance with Section 3 of this Agreement on or before <Expiration Date>, this Award shall expire on that date. Upon such expiration, the Common Shares issued pursuant to this Agreement shall automatically be forfeited, and Participant shall have no further rights with respect thereto.

Appears in 5 contracts

Samples: Restricted Stock Award Agreement (Progressive Corp/Oh/), Restricted Stock Award Agreement (Progressive Corp/Oh/), Restricted Stock Award Agreement (Progressive Corp/Oh/)

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Expiration of Award. Notwithstanding anything to the contrary in this Agreement, if Participant’s rights in and to the shares of Restricted Stock granted hereunder have not vested in accordance with Section 3 of this Agreement on or before <the Expiration Date>, this Award shall expire at 11:59 p.m. on that datethe Expiration Date. Upon such expiration, the Common Shares issued pursuant to this Agreement shall automatically be forfeited, and Participant shall have no further rights with respect thereto.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Progressive Corp/Oh/), Restricted Stock Award Agreement (Progressive Corp/Oh/)

Expiration of Award. Notwithstanding anything to the contrary in this Agreement, if Participant’s 's rights in and to the shares of Restricted Stock granted hereunder have not vested in accordance with Section 3 of this Agreement on or before <Expiration Date>December 31, 2012, this Award shall expire on that dateexpire. Upon such expiration, the Common Shares issued pursuant to this Agreement shall automatically be forfeited, and Participant shall have no further rights with respect thereto.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Progressive Corp/Oh/)

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Expiration of Award. Notwithstanding anything to the contrary in this Agreement, if Participant’s 's rights in and to the shares of Restricted Stock granted hereunder have not vested in accordance with Section 3 of this Agreement on or before <Expiration Date>, this Award shall expire on that date. Upon such expiration, the Common Shares issued pursuant to this Agreement shall automatically be forfeited, and Participant shall have no further rights with respect thereto.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Progressive Corp/Oh/)

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