Common use of Holding Period for Stock Awards Clause in Contracts

Holding Period for Stock Awards. The Board of Directors requires certain executive level employees of the Companies to agree to hold shares of Common Stock issued as stock-based compensation for a minimum period of one year from the date of the payment of the stock-based compensation. Executive hereby agrees to hold the shares of Common Stock issued to Executive as stock-based compensation incentive compensation, including without limitation, the Retention Payments payable hereunder (other than shares of Common Stock withheld by the companies to pay income and employment taxes), until the later of either (i) one year from the date of the payment of the stock-based compensation; or (ii) Executive satisfies PROASSURANCE’S minimum holding requirements for Vice Presidents.

Holding Period for Stock Awards. The Board of Directors requires certain executive level employees of the Companies to agree to hold shares of Common Stock issued as stock-based compensation for a minimum period of one year from the date of the payment of the stock-based compensation. Executive hereby agrees to hold the shares of Common Stock issued to Executive as stock-based compensation incentive compensation, including without limitation, the Retention Payments payable hereunder (other than shares of Common Stock withheld by the companies to pay income and employment taxes), until the later of either (i) one year from the date of the payment of the stock-based compensation; or (ii) Executive satisfies PROASSURANCE’S minimum holding requirements for Vice Presidentssenior level executives.