Common use of Lapse of Restrictions and Forfeiture Clause in Contracts

Lapse of Restrictions and Forfeiture. Subject to Section 4(c) hereof, the restrictions on transfer imposed on the shares of Restricted Stock by this Section 4 shall lapse with respect to the shares of Restricted Stock and the Awardee will vest, or gain actual “ownership” of the shares of Restricted Stock in accordance with the terms of Section 4(a) hereof. Except as set forth below, in the event that prior to the lapse of restrictions on transfer, Awardee’s service as a Director terminates, then all shares of Restricted Stock as to which the restrictions upon transfer imposed by Section 3 hereof shall not have lapsed prior to such date, shall be forfeited as of the date such service as a Director terminates.

Lapse of Restrictions and Forfeiture. Subject to Section 4(c) hereof, the restrictions on transfer imposed on the shares of Restricted Stock by this Section 4 shall lapse with respect to the shares of Restricted Stock and the Awardee Recipient will vest, or gain actual “ownership” of the shares of Restricted Stock in accordance with the terms of Section 4(a) hereof. Except as set forth below, in the event that prior to the lapse of restrictions on transfer, Awardeethe Recipient’s service as a Director terminates, then all shares of Restricted Stock as to which the restrictions upon transfer imposed by Section 3 hereof shall not have lapsed prior to such date, and shall be forfeited as of the date such service as a Director terminates.

Lapse of Restrictions and Forfeiture. Subject to Section 4(c) hereof, the restrictions on transfer imposed on the shares of Restricted Stock by this Section 4 shall lapse with respect to the shares of Restricted Stock and the Awardee will vest, or gain actual “ownership” of the shares of Restricted Stock in accordance with the terms of Section 4(a) hereof. Except as set forth below, in the event that prior to the lapse of restrictions on transfer, Awardee’s service as a Director terminates, then all shares of Restricted Stock as to which the restrictions upon transfer imposed by Section 3 hereof shall not have lapsed prior to such date, shall be forfeited as of the date such service as a Director terminates.