Common use of Restricted Unit Award Clause in Contracts

Restricted Unit Award. On the terms and conditions and subject to the restrictions, including forfeiture, hereinafter set forth and specified in the Plan, the Company hereby awards to Employee, and Employee hereby accepts, a restricted Unit award (the “Award”) of __________ Units (the “Restricted Units”). The Award is made effective as of January 31, 2020 (the “Effective Date”). The Restricted Units shall be issued in book-entry or unit certificate form in the name of Employee as of the Effective Date. The Restricted Units shall be held by the Company in escrow for Employee’s benefit until such time as the Restricted Units are either forfeited by Employee to the Company or the restrictions thereon terminate as set forth in this Agreement. Employee shall not retain physical custody of any certificates representing Restricted Units until such time as the restrictions on such Restricted Units terminate as set forth in this Agreement. Employee, by acceptance of the Award, shall be deemed to appoint, and does so appoint, the Company and each of its authorized representatives as Employee’s attorney(s)-in-fact to effect any transfer of forfeited Restricted Units to the Company as may be required pursuant to the Plan or this Agreement, and to execute such representations or other documents or assurances as the Company or such representatives deem necessary or advisable in connection with any such transfer. To the extent allowable by applicable law, the Company, or its designee, shall not be liable for any act it may do or omit to do with respect to holding the Restricted Units in escrow while acting in good faith in the exercise of its judgment.

Restricted Unit Award. On the terms and conditions and subject to the restrictions, including forfeiture, hereinafter set forth and specified in the Plan, the Company hereby awards to Employee, and Employee hereby accepts, a restricted Unit award (the “Award”) of __________ Units (the “Restricted Units”). The Award is made effective as of January 31, 2020 ________________________ (the “Effective Date”). The Restricted Units shall be issued in book-entry or unit certificate form in the name of Employee as of the Effective Date. The Restricted Units shall be held by the Company in escrow for Employee’s benefit until such time as the Restricted Units are either forfeited by Employee to the Company or the restrictions thereon terminate as set forth in this Agreement. Employee shall not retain physical custody of any certificates representing Restricted Units until such time as the restrictions on such Restricted Units terminate as set forth in this Agreement. Employee, by acceptance of the Award, shall be deemed to appoint, and does so appoint, the Company and each of its authorized representatives as Employee’s attorney(s)-in-fact to effect any transfer of forfeited Restricted Units to the Company as may be required pursuant to the Plan or this Agreement, and to execute such representations or other documents or assurances as the Company or such representatives deem necessary or advisable in connection with any such transfer. To the extent allowable by applicable law, the Company, or its designee, shall not be liable for any act it may do or omit to do with respect to holding the Restricted Units in escrow while acting in good faith in the exercise of its judgment.

Restricted Unit Award. On the terms and conditions and subject to the restrictions, including forfeiture, hereinafter set forth and specified in the Plan, the Company hereby awards to EmployeeDirector, and Employee Director hereby accepts, a restricted Unit award (the “Award”) of __________ Units (the “Restricted Units”). The Award is made effective as of January 31, 2020 ________________________ (the “Effective Date”). The Restricted Units shall be issued in book-entry or unit certificate form in the name of Employee Director as of the Effective Date. The Restricted Units shall be held by the Company in escrow for EmployeeDirector’s benefit until such time as the Restricted Units are either forfeited by Employee Director to the Company or the restrictions thereon terminate as set forth in this Agreement. Employee Director shall not retain physical custody of any certificates representing Restricted Units until such time as the restrictions on such Restricted Units terminate as set forth in this Agreement. EmployeeDirector, by acceptance of the Award, shall be deemed to appoint, and does so appoint, the Company and each of its authorized representatives as EmployeeDirector’s attorney(s)-in-fact to effect any transfer of forfeited Restricted Units to the Company as may be required pursuant to the Plan or this Agreement, and to execute such representations or other documents or assurances as the Company or such representatives deem necessary or advisable in connection with any such transfer. To the extent allowable by applicable law, the Company, or its designee, shall not be liable for any act it may do or omit to do with respect to holding the Restricted Units in escrow while acting in good faith in the exercise of its judgment.