Restrictions Generally. The Option is personal to the Grantee and neither the Option nor any of the rights of the Grantee hereunder may be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) except by the laws of descent and distribution, nor shall the Option or any rights with respect thereto be subject to execution, attachment or similar process. Upon any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights with respect thereto contrary to the provisions of this Agreement, or upon the placement or levy of any attachment or similar process on the Option or any of the Grantee’s rights hereunder, the Option and all such rights shall expire and become null and void, unless the Committee, in its discretion, determines otherwise.
Restrictions Generally. Until they expire in accordance with Section 3(b), the following restrictions (the “Restrictions”) shall apply to the Restricted Stock: (1) the Restricted Stock shall be subject to a risk of forfeiture as set forth in Section 3(b) (the “Risk of Forfeiture”), and (2) Employee shall not sell, transfer, assign, pledge, margin, or otherwise encumber or dispose of the Restricted Stock (except for transfers and forfeitures to the Company). Upon issuance of certificates or the transfer agent making the appropriate entry on its books representing the Restricted Stock in the name of Employee, which shall occur as promptly as practicable after the Grant Date, Employee shall be entitled to receive dividends on the Restricted Stock as provided in Section 3(e), shall be entitled to vote Restricted Stock on any matter submitted to a vote of holders of Common Stock, and shall have all other rights in connection with such Restricted Stock as would a holder of Common Stock except as otherwise expressly provided under this Section 3, and subject to the Committee’s authority (including authority to make adjustments to Awards) under the 2003 Plan.
Restrictions Generally. The Units are subject to the provisions of the Partnership Agreement, which agreement provides, among other things, Partnership call rights, restrictions on transfer and certain drag-along provisions with respect to the Units.
Restrictions Generally. Until the Shares vest in accordance with Section 3(b), 3(c), or 3(d), the following restrictions (the "Restrictions") shall apply to the Performance Shares: (1) Employee shall have no right to sell, transfer, assign, pledge, or otherwise encumber or dispose of the Performance Shares (except for transfers and forfeitures to the Company); and (2) the Performance Shares shall be subject to the risk of forfeiture as set forth in Section 3(b) and 3(c). Employee shall be entitled to receive dividend and distribution equivalents with respect to the Performance Shares in accordance with Section 4. Employee shall not have any rights of a shareholder of the Company, including the right to vote, with respect to Performance Shares, until actual Shares are issued to Employee upon vesting of the Shares.
Restrictions Generally. Until they lapse in accordance with Section 3(b), 3(c), or 3(d), the following restrictions (the "Restrictions") shall apply to the Restricted Stock: (1) Employee shall have no right to sell, transfer, assign, pledge, or otherwise encumber or dispose of the Restricted Stock (except for transfers and forfeitures to the Company); and (2) the Restricted Stock shall be subject to the risk of forfeiture as set forth in Section 3(b). Employee shall be entitled to receive dividends and distributions on the Restricted Stock in accordance with Section 4. If certificates are issued to Employee, Employee shall be entitled to vote Restricted Stock on any matter submitted to a vote of holders of Common Stock, to the extent permitted by law; and Employee shall have all other rights of a shareholder of the Company except as otherwise expressly limited or provided under this Agreement.
Restrictions Generally. The Purchaser shall not directly or indirectly effect any sale, transfer, assignment, gift, exchange, pledge, hypothecation, encumbrance or other disposition of any Purchased Securities or Warrant Shares (collectively, the “Restricted Securities”), or any interest therein, whether voluntary or involuntary and regardless of the nature or method thereof (other than an exchange, reclassification or other conversion of the Restricted Securities into cash, securities or other property pursuant to a merger, consolidation or recapitalization of the Company) (each, a “Transfer”) during the one (1)-year period following the Closing Date or otherwise except in accordance with this Agreement and applicable federal and state securities laws and regulations. In addition, the Purchaser and the Purchaser’s sole stockholder, Sharad Tak, agree that the shares of capital stock of the Purchaser may not be Transferred to persons other than immediately family members of Sharad Tak without the prior written consent of the Company, and that the Purchaser may not issue any additional equity securities, as long as the Transfer restrictions on the Restricted Securities set forth in this Agreement remain in effect. In the event of a Transfer of shares of capital stock of the Purchaser, the transferee shall execute an addendum to this Agreement and such shares shall be similarly bound by the provisions of this Agreement. The Purchaser and Sharad Tak agree that the stock certificate(s) representing the shares of capital stock of the Purchaser shall be imprinted with a legend referencing this Agreement and the restrictions imposed hereby.
Restrictions Generally. The Class A Units are subject to the provisions of the Unitholders Agreement, the Registration Agreement and LLC Agreement which provide, among other things, restrictions on transfer, certain drag-along and tag-along rights, holdback provisions, and repurchase rights on the Class A Units held by Executive. The Company acknowledges that certain limited transfers to Permitted Transferees are permissible, as further detailed in the Unitholders Agreement and the LLC Agreement.
Restrictions Generally. The Options and, as applicable, any Units that are issuable upon exercise of any vested Options that are exercisable are subject to the provisions of the Partnership Agreement, which agreement provides, among other things, Partnership call rights, restrictions on transfer and certain drag-along provisions with respect to the Options or Units, as applicable.
Restrictions Generally. Until they expire in accordance with Section 2(d) or 2(e), the following restrictions (the “Restrictions”) shall apply to the Restricted Stock:
Restrictions Generally. Until they lapse in accordance with Section 3(b), 3(c), or 5(a), the following restrictions (the "Restrictions") shall apply to the Restricted Stock: (1) Employee shall have no right to sell, transfer, assign, pledge, or otherwise encumber or dispose of the Restricted Stock (except for transfers and forfeitures to the Company); and (2) the Restricted Stock shall be subject to the risk of forfeiture as set forth in Section 3(b). Employee shall be entitled to receive dividends and distributions on the Restricted Stock when, as, and if declared and paid on Shares, provided that, unless otherwise determined by the Committee, dividends and distributions shall be deemed reinvested in additional Restricted Stock at the Fair Market Value of Shares on the payment date, which additional Restricted Stock shall be subject to the same Restrictions as apply to the original Restricted Stock; Employee shall be entitled to vote Restricted Stock on any matter submitted to a vote of holders of Common Stock; and Employee shall have all other rights of a shareholder of the Company except as otherwise expressly limited or provided under this Section 3. THE DATE OF GRANT OF THIS OPTION IS: GRANT NUMBER:
