Common use of Issuance of Restricted Stock Clause in Contracts

Issuance of Restricted Stock. (a) The Company shall issue the Restricted Stock as of the Grant Date in one or more of the manners described below, as determined by the Company, in its sole discretion: (i) by the issuance of share certificate(s) evidencing Restricted Stock to the Secretary of the Company or such other agent of the Company as may be designated by the Company or the Secretary (the "Share Custodian"); or (ii) by documenting the issuance in uncertificated or book entry form on the Company’s stock records; or (iii) by the issuance of certificates registered in the name of the Participant which shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award in substantially the following form: "The transferability of the shares represented by this certificate is subject to the terms and conditions (including forfeiture) of a Restricted Stock Agreement entered into between the registered owner and the Company. A copy of such agreement is on file in the offices of the Secretary of the Company at 0000 Xxxxxxx Xxxx, Brentwood, Tennessee 37027." (b) In the event that the Participant forfeits any of the Restricted Stock, the Company shall cancel the issuance on its stock records and, if applicable, the Share Custodian shall promptly deliver the share certificate(s) representing the forfeited shares to the Company. (c) Participant hereby irrevocably appoints the Share Custodian, and any successor thereto, as the true and lawful attorney-in-fact of Participant with full power and authority to execute any stock transfer power or other instrument necessary to transfer any Restricted Stock to the Company in accordance with this Award, in the name, place, and stead of the Participant. The term of such appointment shall commence on the Grant Date of this Award and shall continue until the last of the Restricted Stock are delivered to the Participant as Vested Shares or are returned to the Company as forfeited Restricted Stock. (d) In the event the number of shares of Common Stock is increased or reduced as a result of a subdivision or combination of shares of Common Stock or the payment of a stock dividend or any other increase or decrease in the number of shares of Common Stock or other transaction such as a merger, reorganization or other change in the capital structure of the Company, the Participant agrees that any certificate representing shares of Common Stock or other securities of the Company issued as a result of any of the foregoing shall be delivered to the Share Custodian or recorded in book entry form, as applicable, and shall be subject to all of the provisions of this Award as if initially granted hereunder.

Appears in 1 contract

Samples: Restricted Stock Agreement (Quorum Health Corp)

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Issuance of Restricted Stock. (a) The A. In consideration of past services rendered to the Company shall issue and for other good and valuable consideration which the Restricted Stock as Committee has determined to be at least equal to the par value of the Grant Common Stock, on the Award Date National Semiconductor Corporation issues to the Employee the number shares of its Common Stock set forth hereinabove on the first page of this Agreement, upon the terms and conditions set forth in one or more of the manners described belowthis Agreement. B. By entering into this Agreement, as determined by the Company, in its sole discretionEmployee acknowledges that: (i) by the issuance of share certificate(s) evidencing Restricted Stock to the Secretary of the Company or such other agent of the Company as Plan is discretionary in nature and may be designated amended, suspended or terminated by the Company or the Secretary (the "Share Custodian"); orNational Semiconductor Corporation at any time; (ii) by documenting the issuance grant of shares of Restricted Stock is a one-time benefit which does not create any contractual or other right to receive future grants of shares of Restricted Stock, or benefits in uncertificated or book entry form on the Company’s stock records; orlieu of shares of Restricted Stock; (iii) by the issuance all determinations with respect to any grants of certificates registered in the name of the Participant which shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award in substantially the following form: "The transferability of the shares represented by this certificate is subject to the terms and conditions (including forfeiture) of a Restricted Stock Agreement entered into between the registered owner and the Company. A copy of such agreement is on file in the offices of the Secretary of the Company at 0000 Xxxxxxx Xxxx, Brentwood, Tennessee 37027." (b) In the event that the Participant forfeits any of the Restricted Stock, the Company shall cancel the issuance on its stock records andincluding, if applicablebut not limited to, the Share Custodian shall promptly deliver the share certificate(s) representing the forfeited times when shares to the Company. (c) Participant hereby irrevocably appoints the Share Custodian, and any successor thereto, as the true and lawful attorney-in-fact of Participant with full power and authority to execute any stock transfer power or other instrument necessary to transfer any Restricted Stock to the Company in accordance with this Awardshall be granted, in the name, place, and stead of the Participant. The term of such appointment shall commence on the Grant Date of this Award and shall continue until the last of the Restricted Stock are delivered to the Participant as Vested Shares or are returned to the Company as forfeited Restricted Stock. (d) In the event the number of shares of Common Stock is increased Restricted Stock, and the time or reduced as a result of a subdivision or combination of times when the restrictions on the shares of Common Restricted Stock or shall expire, will be at the payment sole discretion of a stock dividend or any other increase or decrease in National Semiconductor Corporation and the number Committee; (iv) the Employee’s receipt of these shares of Common Restricted Stock or other transaction such as shall not create a merger, reorganization or other change in right to further employment with the capital structure of Company and shall not interfere with the Company, the Participant agrees that any certificate representing shares of Common Stock or other securities ability of the Company issued as a result of to terminate the Employee’s employment relationship at any time with or without cause; (v) the Employee’s participation in the Plan is voluntary; (vi) the value of the foregoing shall be delivered to shares of Restricted Stock is an extraordinary item of compensation which is outside the Share Custodian or recorded in book entry form, as applicable, and shall be subject to all scope of the provisions Employee’s employment contract, if any; (vii) the shares of this Award as if initially granted hereunderRestricted Stock are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; (viii) the future value of the shares of Restricted Stock is unknown and cannot be predicted with certainty.

Appears in 1 contract

Samples: Service Based Restricted Stock Agreement (National Semiconductor Corp)

Issuance of Restricted Stock. (a) The Company shall issue Unless you are advised otherwise by the Secretary of Unit Corporation, your unvested Shares of Restricted Stock as will be held in book entry form. You agree that Unit Corporation may give stop transfer instructions to the depository to ensure compliance with the provisions of the Grant Date in one or more of the manners described below, as determined by the Company, in its sole discretion: this agreement. You hereby (i) by the issuance acknowledge that your unvested Shares of share certificate(s) evidencing Restricted Stock to the Secretary of the Company or such other agent of the Company as may will be designated by the Company or the Secretary (the "Share Custodian"); or (ii) by documenting the issuance held in uncertificated or book entry form on the Company’s books of Unit Corporation's depository (or another institution specified by Unit Corporation), and irrevocably authorize Unit Corporation to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such Shares that are unvested and forfeited, (ii) agree to deliver to Unit Corporation, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares of Restricted Stock, one or more stock records; or powers, endorsed in blank, with respect to such Shares, and (iii) by agree to sign such other powers and take such other actions as Unit Corporation may reasonably request to accomplish the issuance transfer or forfeiture of certificates registered in the name any unvested Shares of the Participant which shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award in substantially the following form: "The transferability of the shares represented by this certificate is subject to the terms and conditions (including forfeiture) of a Restricted Stock Agreement entered into between the registered owner and the Company. A copy of such agreement is on file in the offices of the Secretary of the Company at 0000 Xxxxxxx Xxxx, Brentwood, Tennessee 37027that are forfeited under this agreement." (b) In the event the Secretary of Unit Corporation advises you that the Participant forfeits any your unvested Shares of the Restricted Stock, the Company shall cancel the issuance on its stock records and, if applicable, the Share Custodian shall promptly deliver the share certificate(s) representing the forfeited shares to the Company. (c) Participant hereby irrevocably appoints the Share Custodian, and any successor thereto, as the true and lawful attorney-in-fact of Participant with full power and authority to execute any stock transfer power or other instrument necessary to transfer any Restricted Stock to the Company in accordance with this Awardwill be represented by a certificate, in the namethen, place, and stead of the Participant. The term of such appointment shall commence on the Grant Date of this Award and shall continue until the last of the Restricted Stock are delivered to the Participant as Vested Shares or are returned to the Company as forfeited Restricted Stock. (d) In the event the number of shares of Common Stock is increased or reduced as a result of a subdivision or combination of shares of Common Stock or the payment of a stock dividend or any other increase or decrease in the number of shares of Common Stock or other transaction such as a merger, reorganization or other change in the capital structure of the Company, the Participant agrees that any certificate representing shares of Common Stock or other securities of the Company issued as a result of any of the foregoing shall be delivered to the Share Custodian or recorded in book entry form, as applicable, and shall be subject to all of the provisions of this agreement, Unit Corporation shall issue and register on its books and records in your name a certificate (or certificates) in the amount of the Shares of Restricted Stock subject to this Award as if initially granted hereunderset forth above. Each certificate shall bear a legend, substantially in the following form: "The sale or other transfer of the Shares of stock represented by this certificate, whether voluntary, involuntary, or by operation of law, is subject to certain restrictions on transfer as set forth in the Unit Corporation Stock and Incentive Compensation Plan, and in the associated Award Agreement. A copy of this Plan and such Award Agreement may be obtained from Unit Corporation." The certificate(s) shall be retained by Unit Corporation (or its designee) until the time that all restrictions or conditions applicable to the Shares have been satisfied or lapsed.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Unit Corp)

Issuance of Restricted Stock. (a) The Company shall issue a. Unless you are advised otherwise by the Secretary of Noble, your Shares of Restricted Stock as of and the Grant Date Purchased Shares will be held in one or more of the manners described below, as determined escrow by the Company, in its sole discretion: Company book entry form. You agree that Xxxxx may give stop transfer instructions to the depository to ensure compliance with the provisions of this agreement. You hereby (i) by the issuance acknowledge that your unvested Shares of share certificate(s) evidencing Restricted Stock and an amount of Purchased Shares equal to the Secretary two (2) times your unvested Shares of the Company or such other agent of the Company as may Restricted Stock will be designated by the Company or the Secretary (the "Share Custodian"); or (ii) by documenting the issuance held in uncertificated or book entry form on the Company’s books of Xxxxx’x depository (or another institution specified by Noble), and irrevocably authorize Noble to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such Shares that are unvested and forfeited, (ii) agree to deliver to Noble, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares of Restricted Stock, one or more stock records; or powers, endorsed in blank, with respect to such Shares, and (iii) agree to sign such other powers and take such other actions as Xxxxx may reasonably request to accomplish the transfer or forfeiture of any unvested Shares of Restricted Stock that are forfeited under this agreement. b. In the event the Secretary of Noble advises you that your unvested Shares of Restricted Stock will be represented by a certificate, then, subject to the issuance provisions of certificates registered this agreement, Noble shall issue and register on its books and records in your name a certificate (or certificates) in the name amount of the Participant which Shares of Restricted Stock subject to this Award as set forth above. Each certificate shall bear an appropriate legend referring to the termsa legend, conditions, and restrictions applicable to such Award substantially in substantially the following form: "The transferability of certificate(s) shall be retained by Noble (or its designee) until the shares represented by this certificate is subject time that all restrictions or conditions applicable to the terms and conditions (including forfeiture) of a Restricted Stock Agreement entered into between the registered owner and the Company. A copy of such agreement is on file in the offices of the Secretary of the Company at 0000 Xxxxxxx Xxxx, Brentwood, Tennessee 37027Shares have been satisfied or lapsed." (b) In the event that the Participant forfeits any of the Restricted Stock, the Company shall cancel the issuance on its stock records and, if applicable, the Share Custodian shall promptly deliver the share certificate(s) representing the forfeited shares to the Company. (c) Participant hereby irrevocably appoints the Share Custodian, and any successor thereto, as the true and lawful attorney-in-fact of Participant with full power and authority to execute any stock transfer power or other instrument necessary to transfer any Restricted Stock to the Company in accordance with this Award, in the name, place, and stead of the Participant. The term of such appointment shall commence on the Grant Date of this Award and shall continue until the last of the Restricted Stock are delivered to the Participant as Vested Shares or are returned to the Company as forfeited Restricted Stock. (d) In the event the number of shares of Common Stock is increased or reduced as a result of a subdivision or combination of shares of Common Stock or the payment of a stock dividend or any other increase or decrease in the number of shares of Common Stock or other transaction such as a merger, reorganization or other change in the capital structure of the Company, the Participant agrees that any certificate representing shares of Common Stock or other securities of the Company issued as a result of any of the foregoing shall be delivered to the Share Custodian or recorded in book entry form, as applicable, and shall be subject to all of the provisions of this Award as if initially granted hereunder.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Noble International, Ltd.)

Issuance of Restricted Stock. (a) The Company shall issue Unless you are advised otherwise by the Secretary of Unit Corporation, your unvested Shares of Restricted Stock as will be held in book entry form. You agree that Unit Corporation may give stop transfer instructions to the depository to ensure compliance with the provisions of the Grant Date in one or more of the manners described below, as determined by the Company, in its sole discretion: this agreement. You hereby (i) by the issuance acknowledge that your unvested Shares of share certificate(s) evidencing Restricted Stock to the Secretary of the Company or such other agent of the Company as may will be designated by the Company or the Secretary (the "Share Custodian"); or (ii) by documenting the issuance held in uncertificated or book entry form on the Company’s books of Unit Corporation's depository (or another institution specified by Unit Corporation), and irrevocably authorize Unit Corporation to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such Shares that are unvested and forfeited, (ii) agree to deliver to Unit Corporation, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares of Restricted Stock, one or more stock records; or powers, endorsed in blank, with respect to such Shares, and (iii) by agree to sign such other powers and take such other actions as Unit Corporation may reasonably request to accomplish the issuance transfer or forfeiture of certificates registered in the name any unvested Shares of the Participant which shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award in substantially the following form: "The transferability of the shares represented by this certificate is subject to the terms and conditions (including forfeiture) of a Restricted Stock Agreement entered into between the registered owner and the Company. A copy of such agreement is on file in the offices of the Secretary of the Company at 0000 Xxxxxxx Xxxx, Brentwood, Tennessee 37027that are forfeited under this agreement." (b) In the event the Secretary of Unit Corporation advises you that the Participant forfeits any your unvested Shares of the Restricted Stock, the Company shall cancel the issuance on its stock records and, if applicable, the Share Custodian shall promptly deliver the share certificate(s) representing the forfeited shares to the Company. (c) Participant hereby irrevocably appoints the Share Custodian, and any successor thereto, as the true and lawful attorney-in-fact of Participant with full power and authority to execute any stock transfer power or other instrument necessary to transfer any Restricted Stock to the Company in accordance with this Awardwill be represented by a certificate, in the namethen, place, and stead of the Participant. The term of such appointment shall commence on the Grant Date of this Award and shall continue until the last of the Restricted Stock are delivered to the Participant as Vested Shares or are returned to the Company as forfeited Restricted Stock. (d) In the event the number of shares of Common Stock is increased or reduced as a result of a subdivision or combination of shares of Common Stock or the payment of a stock dividend or any other increase or decrease in the number of shares of Common Stock or other transaction such as a merger, reorganization or other change in the capital structure of the Company, the Participant agrees that any certificate representing shares of Common Stock or other securities of the Company issued as a result of any of the foregoing shall be delivered to the Share Custodian or recorded in book entry form, as applicable, and shall be subject to all of the provisions of this agreement, Unit Corporation shall issue and register on its books and records in your name a certificate (or certificates) in the amount of the Shares of Restricted Stock subject to this Award as if initially granted hereunderset forth above. Each certificate shall bear a legend, substantially in the following form: "The sale or other transfer of the Shares of stock represented by this certificate, whether voluntary, involuntary, or by operation of law, is subject to certain restrictions on transfer as set forth in the Unit Corporation Stock and Incentive Compensation Plan as Amended and Restated May 2, 2012, and in the associated Award Agreement. A copy of this Plan and such Award Agreement may be obtained from Unit Corporation." The certificate(s) shall be retained by Unit Corporation (or its designee) until the time that all restrictions or conditions applicable to the Shares have been satisfied or lapsed.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Unit Corp)

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Issuance of Restricted Stock. (a) The Company shall issue the Restricted Stock as of the Grant Date in one or more of the manners described below, as determined by the Company, in its sole discretion: (i) by the issuance of share certificate(s) evidencing Restricted Stock to the Secretary of the Company or such other agent of the Company as may be designated by the Company or the Secretary (the "Share Custodian"); or (ii) by documenting the issuance in uncertificated or book entry form on the Company’s stock records; or (iii) by the issuance of certificates registered in the name of the Participant which shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award in substantially the following form: "The transferability of the shares represented by this certificate is subject to the terms and conditions (including forfeiture) of a Restricted Stock Agreement entered into between the registered owner and the Company. A copy of such agreement is on file in the offices of the Secretary of the Company at 0000 Xxxxxxx Xxxx, Brentwood, Tennessee 37027." (b) In the event that the Participant forfeits any of the Restricted Stock, the Company shall cancel the issuance on its stock records and, if applicable, the Share Custodian shall promptly deliver the share certificate(s) representing the forfeited shares to the Company. (c) Participant hereby irrevocably appoints the Share Custodian, and any successor thereto, as the true and lawful attorney-in-fact of Participant with full power and authority to execute any stock transfer power or other instrument necessary to transfer any Restricted Stock to the Company in accordance with this Award, in the name, place, and stead of the Participant, by completing an irrevocable stock power in favor of the Share Custodian in the form attached hereto as Exhibit 1. The term of such appointment shall commence on the Grant Date of this Award and shall continue until the last of the Restricted Stock are delivered to the Participant as Vested Shares or are returned to the Company as forfeited Restricted Stock. (d) In the event the number of shares of Common Stock is increased or reduced as a result of a subdivision or combination of shares of Common Stock or the payment of a stock dividend or any other increase or decrease in the number of shares of Common Stock or other transaction such as a merger, reorganization or other change in the capital structure of the Company, the Participant agrees that any certificate representing shares of Common Stock or other securities of the Company issued as a result of any of the foregoing shall be delivered to the Share Custodian or recorded in book entry form, as applicable, and shall be subject to all of the provisions of this Award as if initially granted hereunder.

Appears in 1 contract

Samples: Restricted Stock Agreement (Quorum Health Corp)

Issuance of Restricted Stock. (a) The Company shall issue A. Unless you are advised otherwise by Unit, your unvested shares of restricted stock will be held in book entry form. You agree that Unit may give stop transfer instructions to the Restricted Stock as of the Grant Date in one or more of the manners described below, as determined by the Company, in its sole discretion: depository to ensure compliance with this agreement. You (i) by the issuance acknowledge that your unvested shares of share certificate(s) evidencing Restricted Stock to the Secretary of the Company or such other agent of the Company as may restricted stock will be designated by the Company or the Secretary (the "Share Custodian"); or (ii) by documenting the issuance held in uncertificated or book entry form on the Company’s books of Unit's depository (or another institution specified by Unit), and irrevocably authorize Unit to take whatever action may be necessary or appropriate to effectuate a transfer of the record ownership of any such shares that are unvested and forfeited, (ii) agree to deliver to Unit, as a precondition to the issuance of any certificate or certificates regarding unvested shares of restricted stock, one or more stock records; or powers, endorsed in blank, regarding those shares, and (iii) agree to take any other action as Unit may reasonably request to accomplish the transfer or forfeiture of any unvested shares of restricted stock forfeited under this agreement. B. If the Secretary of Unit advises you that your unvested shares of restricted stock will be represented by the issuance of certificates registered a certificate subject to this agreement, Unit will issue and register on its books and records in your name a certificate (or certificates) in the name shares of the Participant which shall restricted stock subject to this award . Each certificate will bear an appropriate legend referring to the termsa legend, conditions, and restrictions applicable to such Award substantially in substantially the following form: "The transferability sale or other transfer of the shares Shares of stock represented by this certificate certificate, whether voluntary, involuntary, or by operation of law, is subject to certain restrictions on transfer as set forth in the terms Second Amended and conditions (including forfeiture) of a Restricted Restated Unit Corporation Stock Agreement entered into between and Incentive Compensation Plan dated May 6, 2015, and in the registered owner and the Companyassociated Award Agreement. A copy of this Plan and such agreement is on file in the offices of the Secretary of the Company at 0000 Xxxxxxx Xxxx, Brentwood, Tennessee 37027Award Agreement may be obtained from Unit Corporation." (b) In the event that the Participant forfeits any of the Restricted Stock, the Company shall cancel the issuance on its stock records and, if applicable, the Share Custodian shall promptly deliver the share ” The certificate(s) representing the forfeited shares will be retained by Unit (or its designee) until all restrictions or conditions applicable to the Companyshares have been satisfied or lapsed. (c) Participant hereby irrevocably appoints the Share Custodian, and any successor thereto, as the true and lawful attorney-in-fact of Participant with full power and authority to execute any stock transfer power or other instrument necessary to transfer any Restricted Stock to the Company in accordance with this Award, in the name, place, and stead of the Participant. The term of such appointment shall commence on the Grant Date of this Award and shall continue until the last of the Restricted Stock are delivered to the Participant as Vested Shares or are returned to the Company as forfeited Restricted Stock. (d) In the event the number of shares of Common Stock is increased or reduced as a result of a subdivision or combination of shares of Common Stock or the payment of a stock dividend or any other increase or decrease in the number of shares of Common Stock or other transaction such as a merger, reorganization or other change in the capital structure of the Company, the Participant agrees that any certificate representing shares of Common Stock or other securities of the Company issued as a result of any of the foregoing shall be delivered to the Share Custodian or recorded in book entry form, as applicable, and shall be subject to all of the provisions of this Award as if initially granted hereunder.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Unit Corp)

Issuance of Restricted Stock. (a) The Company shall issue A. Unless you are advised otherwise by Unit, your unvested shares of restricted stock will be held in book entry form. You agree that Unit may give stop transfer instructions to the Restricted Stock as depository to ensure compliance with the provisions of the Grant Date in one or more of the manners described below, as determined by the Company, in its sole discretion: this agreement. You hereby (i) by the issuance acknowledge that your unvested shares of share certificate(s) evidencing Restricted Stock to the Secretary of the Company or such other agent of the Company as may restricted stock will be designated by the Company or the Secretary (the "Share Custodian"); or (ii) by documenting the issuance held in uncertificated or book entry form on the Companybooks of Unit’s depository (or another institution specified by Unit), and irrevocably authorize Unit to take whatever action may be necessary or appropriate to effectuate a transfer of the record ownership of any such shares that are unvested and forfeited, (ii) agree to deliver to Unit, as a precondition to the issuance of any certificate or certificates with respect to unvested shares of restricted stock, one or more stock records; or powers, endorsed in blank, with respect to those shares, and (iii) agree to take any other action as Unit may reasonably request to accomplish the transfer or forfeiture of any unvested shares of restricted stock that are forfeited under this agreement. B. In the event the Secretary of Unit advises you that your unvested shares of restricted stock will be represented by a certificate, then, subject to the issuance provisions of certificates registered this agreement, Unit will issue and register on its books and records in your name a certificate (or certificates) in the name amount of the Participant which shall shares of restricted stock subject to this award as set forth above. Each certificate will bear an appropriate legend referring to the termsa legend, conditions, and restrictions applicable to such Award substantially in substantially the following form: "The transferability sale or other transfer of the shares Shares of stock represented by this certificate certificate, whether voluntary, involuntary, or by operation of law, is subject to certain restrictions on transfer as set forth in the terms Unit Corporation Stock and conditions (including forfeiture) of a Restricted Stock Agreement entered into between Incentive Compensation Plan, and in the registered owner and the Companyassociated Award Agreement. A copy of this Plan and such agreement is on file in the offices of the Secretary of the Company at 0000 Xxxxxxx Xxxx, Brentwood, Tennessee 37027Award Agreement may be obtained from Unit Corporation." (b) In the event that the Participant forfeits any of the Restricted Stock, the Company shall cancel the issuance on its stock records and, if applicable, the Share Custodian shall promptly deliver the share ” The certificate(s) representing will be retained by Unit (or its designee) until the forfeited shares time that all restrictions or conditions applicable to the Companyshares have been satisfied or lapsed. (c) Participant hereby irrevocably appoints the Share Custodian, and any successor thereto, as the true and lawful attorney-in-fact of Participant with full power and authority to execute any stock transfer power or other instrument necessary to transfer any Restricted Stock to the Company in accordance with this Award, in the name, place, and stead of the Participant. The term of such appointment shall commence on the Grant Date of this Award and shall continue until the last of the Restricted Stock are delivered to the Participant as Vested Shares or are returned to the Company as forfeited Restricted Stock. (d) In the event the number of shares of Common Stock is increased or reduced as a result of a subdivision or combination of shares of Common Stock or the payment of a stock dividend or any other increase or decrease in the number of shares of Common Stock or other transaction such as a merger, reorganization or other change in the capital structure of the Company, the Participant agrees that any certificate representing shares of Common Stock or other securities of the Company issued as a result of any of the foregoing shall be delivered to the Share Custodian or recorded in book entry form, as applicable, and shall be subject to all of the provisions of this Award as if initially granted hereunder.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Unit Corp)

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