Common use of Restriction and Forfeiture Clause in Contracts

Restriction and Forfeiture. The Grantee’s right to retain the Award Shares will be subject to the Grantee remaining in the continuous employ or service of the Company or any Subsidiary for a period of four (4) years (the “Restriction Period”) following the Date of Grant; provided, however, that such employment/service period restrictions (the “Restrictions”) will lapse and terminate prior to end of the Restriction Period as set forth in Sections 2.2 and 2.3 below.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Select Comfort Corp), Restricted Stock Award Agreement (Select Comfort Corp)

AutoNDA by SimpleDocs

Restriction and Forfeiture. The Grantee’s right to retain the Award Shares or the Adjusted Award Shares will be subject to the Grantee remaining in the continuous employ or service of the Company or any Subsidiary for a period of four (4) years (the “Restriction Period”) following the Date of Grant; provided, however, that such employment/service period restrictions (the “Restrictions”) will lapse and terminate prior to end of the Restriction Period as set forth in Sections 2.2 and 2.3 below.

Appears in 2 contracts

Samples: Performance Stock Award Agreement (Select Comfort Corp), Performance Stock Award Agreement (Select Comfort Corp)

Restriction and Forfeiture. The Grantee’s right to retain the Award Shares will be subject to the Grantee remaining in the continuous employ or service of the Company as an employee, officer or any Subsidiary director for a period of four (4( ) years (the “Restriction Period”) following the Date of Grant; provided, however, that such employment/service period restrictions (the “Restrictions”) will vest or lapse and terminate prior to end of the Restriction Period with respect to installments of Award Shares to the extent and on such dates as set forth in Sections 2.2 and 2.3 below.follows:

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Northern Technologies International Corp)

Restriction and Forfeiture. The Grantee’s right to retain the Adjusted Award Shares will be subject to the Grantee remaining in the continuous employ employment or service of with the Company or any Subsidiary for a period of four (4) years (the “Restriction Period”) following the Date of Grant; provided, however, that such employment/service period restrictions (the “Restrictions”) will lapse and terminate prior to end of the Restriction Period as set forth in Sections Section 2.2 and 2.3 belowbelow or as otherwise set forth in the Plan.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Select Comfort Corp)

Restriction and Forfeiture. The Grantee’s right to retain the Award Shares will be subject to the Grantee remaining in the continuous employ or service of the Company as an employee, officer or any Subsidiary director for a period of four ________ (4___) years (the “Restriction Period”) following the Date of Grant; provided, however, that such employment/service period restrictions (the “Restrictions”) will lapse and terminate prior to end of the Restriction Period with respect to installments of Award Shares to the extent and on such dates as set forth in Sections 2.2 and 2.3 below.follows:

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Northern Technologies International Corp)

AutoNDA by SimpleDocs

Restriction and Forfeiture. The Grantee’s right to retain the Award Shares will be subject to the Grantee remaining in the continuous employ employment or service of with the Company or any Subsidiary for a period of four (4) years (the “Restriction Period”) following the Date of Grant; provided, however, that such employment/service period restrictions (the “Restrictions”) will lapse and terminate prior to end of the Restriction Period as set forth in Sections Section 2.2 and 2.3 belowbelow or as otherwise set forth in the Plan.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Select Comfort Corp)

Restriction and Forfeiture. The Grantee’s right to retain the Award Shares will be subject to the Grantee remaining in the continuous employ or service of the Company or any Subsidiary as a non-employee director for a period of four three (43) years (the “Restriction Period”) following the Date of Grant; provided, however, that such employment/service period restrictions (the “Restrictions”) will lapse and terminate prior to end of the Restriction Period with respect to installments of Award Shares to the extent and on such dates as set forth in Sections 2.2 and 2.3 below.follows:

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Fargo Electronics Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!