Common use of Restriction on Transfer of Restricted Shares Clause in Contracts

Restriction on Transfer of Restricted Shares. All of the Shares initially shall be subject to forfeiture in the event Participant's employment with the Company terminates prior to the date specified below and/or in the event the performance criteria described in SECTION 2(b)(i) are not satisfied. During the period of forfeiture, the shares are referred to herein as Restricted Shares. The Participant shall not transfer, assign, encumber or otherwise dispose of any Restricted Shares, except as provided in the following sentence. The Participant may transfer Restricted Shares (i) by beneficiary designation, will or intestate succession or (ii) to the Participant's spouse, children or grandchildren or to a trust established by the Participant for the benefit of the Participant or the Participant's spouse, children or grandchildren, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If the Participant transfers any Restricted Share, then this SECTION 2 shall apply to the Transferee to the same extent as to the Participant. A purported transfer of any Restricted Shares not in compliance with this SECTION 2(a) shall be void and of no effect.

Restriction on Transfer of Restricted Shares. All of the Shares initially shall be subject to forfeiture in the event Participant's employment with the Company service as a member of Key Technology, Inc.'s Board of Directors terminates prior to the date specified below and/or in the event the performance criteria described in SECTION 2(b)(i) are not satisfiedVesting Period as defined below. During the period of forfeiture, the shares are referred to herein as Restricted Shares. The Participant shall not transfer, assign, encumber or otherwise dispose of any Restricted Shares, except as provided in the following sentence. The Participant may transfer Restricted Shares (i) by beneficiary designation, will or intestate succession or (ii) to the Participant's spouse, children or grandchildren or to a trust established by the Participant for the benefit of the Participant or the Participant's spouse, children or grandchildren, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If the Participant transfers any Restricted Share, then this SECTION Section 2 shall apply to the Transferee to the same extent as to the Participant. A purported transfer of any Restricted Shares not in compliance with this SECTION Section 2(a) shall be void and of no effect.

Restriction on Transfer of Restricted Shares. All of the Shares initially shall be subject to forfeiture in the event Participant's employment with the Company terminates prior to the date dates specified below and/or in the event the performance criteria described in SECTION 2(b)(i2(b) are not satisfiedbelow. During the period of forfeiture, the shares are referred to herein as Restricted Shares. The Participant shall not transfer, assign, encumber or otherwise dispose of any Restricted Shares, except as provided in the following sentence. The Participant may transfer Restricted Shares (i) by beneficiary designation, will or intestate succession or (ii) to the Participant's spouse, children or grandchildren or to a trust established by the Participant for the benefit of the Participant or the Participant's spouse, children or grandchildren, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If the Participant transfers any Restricted Share, then this SECTION 2 shall apply to the Transferee to the same extent as to the Participant. A purported transfer of any Restricted Shares not in compliance with this SECTION 2(a) shall be void and of no effect.

Restriction on Transfer of Restricted Shares. All of the Shares initially shall be subject to forfeiture in the event Participant's employment with the Company terminates prior to the date specified below and/or in the event the performance criteria described in SECTION Section 2(b)(i) are not satisfied. During the period of forfeiture, the shares are referred to herein as Restricted Shares. The Participant shall not transfer, assign, encumber or otherwise dispose of any Restricted Shares, except as provided in the following sentence. The Participant may transfer Restricted Shares (i) by beneficiary designation, will or intestate succession or (ii) to the Participant's spouse, children or grandchildren or to a trust established by the Participant for the benefit of the Participant or the Participant's spouse, children or grandchildren, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement. If the Participant transfers any Restricted Share, then this SECTION Section 2 shall apply to the Transferee to the same extent as to the Participant. A purported transfer of any Restricted Shares not in compliance with this SECTION Section 2(a) shall be void and of no effect.