Common use of Removal of Restrictions Clause in Contracts

Removal of Restrictions. Except as otherwise provided in the Plan, each of the Shares of Restricted Stock granted under this Agreement shall become freely transferable by the Participant on each of the “Dates of Lapse of Restrictions” set forth on Paragraph 3 herein. Once the shares are released from the restrictions, the Participant shall be entitled to receive certificates representing the Shares of stock which have been vested, without the restrictive legend required by Paragraph 5 of this Agreement. Notwithstanding the terms of this Agreement, no stock shall be issued by the Corporation while its stock transfer books are closed.

Removal of Restrictions. Except as may otherwise be provided herein and in the Plan, each of the Shares of Restricted Stock granted under pursuant to this Agreement shall become freely transferable by the Participant on each of the “Dates of date and in the amount set forth under the Lapse of Restrictions” set forth on Paragraph 3 hereinRestriction Dates above, subject to applicable federal and state securities laws. Once the shares Shares of Restricted Stock are released from the no longer subject to any restrictions, the Participant shall be entitled to receive certificates representing have the Shares of stock which have been vested, without the restrictive legend required by Paragraph 5 Section 2 of this Agreement. Notwithstanding Agreement removed from the terms of this Agreement, no applicable stock shall be issued by the Corporation while its stock transfer books are closedcertificates.

Removal of Restrictions. Except as otherwise provided in the Plan, each of the Shares of Restricted Stock granted under this Agreement shall become freely transferable by the Participant on each of the “Dates of Lapse of Restrictions” set forth on Paragraph 3 herein. Once the shares Shares are released from the restrictions, the Participant shall be entitled to receive certificates representing the Shares of stock which have been vested, without the restrictive legend required by Paragraph 5 of this Agreement. Notwithstanding the terms of this Agreement, no stock shall be issued by the Corporation while its stock transfer books are closed.