Common use of Payment of Restricted Stock Clause in Contracts

Payment of Restricted Stock. The shares of Restricted Stock shall be registered in the name of the Participant and the Restricted Stock will be held for the Participant by the Company (a) in certificate form or (b) in bank entry form subject to the Company’s instructions, unvested until vesting. The Participant shall then have all the rights of a stockholder with respect to such shares, including the right to vote and receive dividends or other distributions made or paid with respect to such shares, except that such shares (and dividends and other distributions on such shares) shall be subject to the vesting and forfeiture provisions described in Section 2 above. As promptly as practicable after the Restricted Stock has vested in accordance with paragraph 2, the Company shall deliver to the Participant (or in the event of the Participant’s death, to the Participant’s estate or any person who acquires the Participant’s interest in the Restricted Stock by bequest or inheritance) the Restricted Stock earned, together with any dividends and distributions thereon then held by the Company (or subject to its instructions).

Payment of Restricted Stock. The shares of Restricted Stock shall be registered in the name of the Participant and the Restricted Stock will be held for the Participant by the Company (a) in certificate form or (b) in bank entry form subject to the Company’s instructions, unvested until vesting. The Participant shall then have all the rights of a stockholder with respect to such shares, including the right to vote and receive dividends or other distributions made or paid with respect to such shares, except that such shares (and dividends and other distributions on such shares) shall be subject to the vesting and forfeiture provisions described in Section 2 above. As promptly as practicable after the Restricted Stock has vested in accordance with paragraph 2, the Company shall deliver to the Participant (or in the event of the Participant’s Participant‘s death, to the Participant’s estate or any person who acquires the Participant’s interest in the Restricted Stock by bequest or inheritance) the Restricted Stock earned, together with any dividends and distributions thereon then held by the Company (or subject to its instructions).