Restricted Shares Award. In connection with execution of this Agreement, Company shall grant to Executive an award of one hundred thousand (100,000) restricted shares of Company's common stock (such award being referred to in this Agreement as the "Restricted Shares Award"). The Restricted Shares Award shall be granted pursuant to an agreement (the "Restricted Shares Award Agreement") substantially identical to the BellSouth Corporation Restricted Shares Award Agreement attached hereto as Exhibit "A" and incorporated by this reference herein.
Restricted Shares Award. 42,000 shares of restricted stock of the Company (Company common stock par value $0.01) are hereby awarded to the Director. Restricted Shares awarded hereunder are not transferable by the Director until the date that the applicable shares become vested. Notwithstanding such restrictions, the Director shall retain all voting rights with respect to such non-vested Restricted Shares. However, the Director shall not be entitled to any dividends paid with respect to such non-vested Restricted Shares, and shall have no other rights respecting such shares except as specifically set forth in this Agreement. The Company will file appropriate registration documents (and bear all such costs) pertaining to the vested Restricted Shares as reasonably requested by the Director. As of the date any such shares become vested, then those shares shall contemporaneously become transferable and payable to the Director within thirty (30) days thereof.
Restricted Shares Award. (a) Subject to the terms and conditions of this Agreement, shares of the common stock of the Company, without par value (the “Restricted Shares”) are hereby awarded to the Participant as additional compensation for services as an independent director of the Company. None of the Restricted Shares may be sold, transferred, pledged, hypothecated or otherwise encumbered or disposed or until they have vested in accordance with Section 3 of this Agreement. The Restricted Shares shall be subject to forfeiture as described in Section 4 of this Agreement.
(b) In order for the Award to take effect, the Participant shall execute and deliver a copy of this Agreement to the Company at the Company’s offices within ten (10) business days of the date on which the Participant has received this Agreement. If the Committee determines that the Restricted Shares shall be held in escrow rather than delivered to the Participant pending the release of the applicable restrictions, the Participant additionally shall execute and deliver to the Company (1) an escrow agreement satisfactory to the Committee, and
Restricted Shares Award. (a) Subject to the terms and conditions of this Agreement, ___ shares of the common stock of the Company, without par value (the "Restricted Shares") are hereby awarded to the Participant as additional compensation for services as an independent director of the Company. None of the Restricted Shares may be sold, transferred, pledged, hypothecated or otherwise encumbered or disposed or until they have vested in accordance with Section 3 of this Agreement. The Restricted Shares shall be subject to forfeiture as described in Section 4 of this Agreement.
(b) In order for the Award to take effect, the Participant shall execute and deliver a copy of this Agreement to the Company at the Company's offices within ten (10) business days of the date on which the Participant has received this Agreement. If the Committee determines that the Restricted Shares shall be held in escrow rather than delivered to the Participant pending the release of the applicable restrictions, the Participant additionally shall execute and deliver to the Company (1) an escrow agreement satisfactory to the Committee, and (2) the appropriate blank stock powers with respect to the Restricted Shares covered by such agreements. If the Participant shall fail to execute this Agreement and, if applicable, an escrow agreement and stock powers, within ten (10) days after receipt thereof from the Company, the Award made hereunder shall be null and void.
(c) Subject to the restrictions set forth in the Plan and this Agreement, the Participant shall generally have the rights and privileges of a stockholder as to the Restricted Shares, including the right to vote such Restricted Shares, and to receive dividends paid thereon.
Restricted Shares Award. Pursuant to the Plan and subject to the terms and conditions of the Agreement, PNC grants to the Grantee named above (“Grantee”) a Restricted Shares Award of the number of restricted shares of PNC common stock set forth above (the “Award” and the “Restricted Shares”). The Award is subject to acceptance by Grantee in accordance with Section 17 and is subject to the terms and conditions of the Agreement and the Plan.
Restricted Shares Award. Pursuant to the Plan and subject to the terms and conditions of the Agreement, PNC grants to the Grantee named above (“Grantee”) a Restricted Shares Award of the number of restricted shares of PNC common stock set forth above (the “Award” and the “Restricted Shares”). The Award is subject to acceptance by Grantee in accordance with Section 17 and is subject to the terms and conditions of the Agreement and the Plan. For purposes of determining the Restricted Period, service requirements and other conditions applicable to each portion of the Restricted Shares under the Agreement, the Restricted Shares are divided into three “Tranches” as follows:
(a) one-third (1/3rd ) of these shares (rounded down to the nearest whole share) are in the First Tranche of Restricted Shares;
(b) one-half (1/2 ) of the remaining shares (rounded down to the nearest whole share) are in the Second Tranche of Restricted Shares; and
(c) the remainder of the shares are in the Third Tranche of Restricted Shares.
Restricted Shares Award. Pursuant to The PNC Financial Services Group, Inc. 2006 Incentive Award Plan (the “Plan”), and subject to the terms and conditions of the Agreement, PNC awards to the Grantee named above (“Grantee”) a Dollar-Denominated Award in the amount set forth above, such award to be received by Grantee in the form of a number of Restricted Shares of PNC common stock determined as set forth below (the “Award” and the “Restricted Shares”), all subject to acceptance of the Award by Grantee in accordance with Section 16 and subject to the terms and conditions of the Agreement and the Plan. The number of Restricted Shares to be received by Grantee on the Issuance Date set forth above will be calculated by dividing the dollar amount set forth above as the Award Denominated in Dollars by the reported closing price on the New York Stock Exchange for a share of PNC common stock on the Issuance Date, rounded down to the nearest whole number.
Restricted Shares Award. Contemporaneously with the execution of this Agreement, Employee and the Company have entered into a Restricted Stock Agreement providing for the grant to Employee of 50,000 Common Shares on the terms and conditions set forth therein.
Restricted Shares Award. 25,000 shares of restricted stock of the Company (Company common stock par value $0.01) are hereby awarded to the Director. Restricted Shares awarded hereunder are not transferable by the Director until the date that the applicable shares become vested. Notwithstanding such restrictions, the Director shall retain all voting rights with respect to such non-vested Restricted Shares. However, the Director shall not be entitled to any dividends paid with respect to such non-vested Restricted Shares, and shall have no other rights respecting such shares except as specifically set forth in this Agreement.
Restricted Shares Award. If Executive remains actively employed by Company or an Affiliated Company (or a successor to any such entity) through December 31, 2003, the Restricted Shares Award described in Section 1 of the Prior Agreement shall be 100% vested on December 31, 2003, notwithstanding the vesting scheduled described in the Restricted Shares Award Agreement (described in the Prior Agreement).
