Common use of Restrictions on Restricted Stock Clause in Contracts

Restrictions on Restricted Stock. In addition to the conditions and restrictions provided in the Plan, the shares of Restricted Stock and the right to vote the Restricted Stock and to receive dividends thereon may not be sold, assigned, transferred, exchanged, pledged, hypothecated or otherwise encumbered prior to vesting. Subject to the restrictions on transfer provided in this Section 3, the Award Recipient shall be entitled to all rights of a shareholder of SEI with respect to the Restricted Stock, including the right to vote the shares and receive dividends and/or other distributions declared thereon.

Restrictions on Restricted Stock. In addition to the conditions and restrictions provided in the Plan, the shares of Restricted Stock and the right to vote the Restricted Stock and to receive dividends thereon may not be sold, assigned, transferred, exchanged, pledged, hypothecated hypothecated, or otherwise encumbered prior to vesting. Subject to the restrictions on transfer provided in this Section 3, the Award Recipient shall be entitled to all rights of a shareholder stockholder of SEI Cal Dive with respect to the Restricted Stock, including the right to vote the shares and receive dividends and/or other distributions declared thereon.