Common use of Restricted (Vesting) Period Clause in Contracts

Restricted (Vesting) Period. The period of time during which the transfer of shares of Restricted Stock is restricted is from the date of this Agreement through January 24, 2008 (the “Restricted Period”). The time period restrictions will lapse, and the Restricted Stock will vest, on January 24, 2008, but only if the Grantee remains in office as a director of the Corporation or its subsidiary, National Penn Bank (the “Bank”), through the end of the Restricted Period.

Restricted (Vesting) Period. The period of time during which the transfer of shares of Restricted Stock is restricted is from the date of this Agreement through January 24February 25, 2008 2009 (the “Restricted Period”). The time period restrictions will lapse, and the Restricted Stock will vest, on January 24February 25, 20082009, but only if the Grantee remains in office as a director of the Corporation or its subsidiary, National Penn Bank (the “Bank”), through the end of the Restricted Period.

Restricted (Vesting) Period. The period of time during which the transfer of shares of Restricted Stock is restricted is from the date of this Agreement through January 2425, 2008 2007 (the “Restricted Period”). The time period restrictions will lapse, and the Restricted Stock will vest, on January 2425, 20082007, but only if the Grantee remains in office as a director of the Corporation or its subsidiary, National Penn Bank (the “Bank”), ) through the end of the Restricted Period.

Restricted (Vesting) Period. The period of time during which the transfer of shares of Restricted Stock is restricted is from the date Date of this Agreement through January 24Grant to August 19, 2008 2013 (the “Restricted Period”). ) The time period restrictions restriction will lapse, lapse and the Restricted Stock will vest, on January 24, 2008vest upon expiration of the applicable Restricted Period and achievement of the Performance Goals as defined in subsection 3. b., but only if the Grantee remains in office as a director of continuously employed by the Corporation or its subsidiary, National Penn Bank (the “Bank”), through the end of the applicable Restricted PeriodPeriod or as otherwise provided herein.