Restrictions on Stock. Until the restrictions terminate under Section 3, unless otherwise determined by the Committee: (a) the Restricted Stock may not be sold, assigned, pledged or transferred by the Grantee; and (b) all shares of Restricted Stock will be forfeited and returned to the Company if the Grantee ceases to be an employee of the Company or any business entity in which the Company owns directly or indirectly 50% or more of the total voting power or has a significant financial interest as determined by the Committee (an “Affiliate”).
Appears in 9 contracts
Samples: Restricted Stock Agreement (Tampa Electric Co), Restricted Stock Agreement (Teco Energy Inc), Restricted Stock Agreement (Tampa Electric Co)
Restrictions on Stock. Until the restrictions terminate under Section 3, unless otherwise determined by the Committee:
(a) the Restricted Stock may not be sold, assigned, pledged or transferred by the Grantee; and
(b) all shares of Restricted Stock will be forfeited and returned to the Company if the Grantee ceases to be an employee of the Company or any business entity in which the Company owns directly or indirectly 50% or more of the total voting power or has a significant financial interest as determined by the Committee (an “"Affiliate”").
Appears in 4 contracts
Samples: Restricted Stock Agreement (Teco Energy Inc), Restricted Stock Agreement (Tampa Electric Co), Restricted Stock Agreement (Teco Energy Inc)
Restrictions on Stock. Until the restrictions terminate under Section 3, unless otherwise determined by the CommitteeBoard:
(a) the Restricted Stock may not be sold, assigned, pledged or transferred by the Grantee; and
(b) all shares of Restricted Stock will be forfeited and returned to the Company if the Grantee ceases to be an employee a Director of the Company or any business entity in which the Company owns directly or indirectly 50% or more of the total voting power or has a significant financial interest as determined by the Committee (an “Affiliate”)Company.
Appears in 3 contracts
Samples: Restricted Stock Agreement (Teco Energy Inc), Restricted Stock Agreement (Teco Energy Inc), Restricted Stock Agreement (Tampa Electric Co)
Restrictions on Stock. Until the restrictions terminate under Section 3, unless otherwise determined by the Committee:
(a) the Restricted Stock may not be sold, assigned, pledged or transferred by the Grantee; and
(b) all shares of Restricted Stock will be forfeited and returned to the Company if the Grantee ceases to be an employee of employed in his current position with the Company or any business entity in which the Company owns directly or indirectly 50% or more of the total voting power or has a significant financial interest as determined by the Committee (an “Affiliate”)Company.
Appears in 2 contracts
Samples: Restricted Stock Agreement (Teco Energy Inc), Restricted Stock Agreement (Teco Energy Inc)
