Common use of Restrictions Generally Clause in Contracts

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.

Appears in 3 contracts

Samples: Incentive Plan Performance Share Agreement (Charming Shoppes Inc), Performance Share Agreement (Charming Shoppes Inc), Award and Incentive Plan Performance Share Agreement (Charming Shoppes Inc)

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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.

Appears in 1 contract

Samples: 2004 Stock Award and Incentive Plan (Charming Shoppes Inc)

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