Restrictions on Transfer and Restricted Period. During the period (the "Restricted Period") commencing on the date of this Award Agreement and terminating on November 1, 2015, Shares with respect to which the Restricted Period has not lapsed may not be sold, assigned, transferred, pledged, or otherwise encumbered by the Grantee except, in the event of the death of the Grantee, by will or the laws of descent and distribution or pursuant to a "domestic relations order," as defined in Section 414(p)(1)(B) the Code, or as hereinafter provided. Shares with respect to which the Restricted Period has lapsed shall sometimes be referred to herein as "Vested." Provided that the Grantee does not incur a Termination of Service, Shares shall become Vested in accordance with the following schedule: Except to the extent prohibited by the OTS regulations, the Committee referred to in Section 3 of the Plan shall have the authority, in its discretion, to accelerate the time at which any or all of the restrictions shall lapse with respect to any Shares or to remove any or all of such restrictions, whenever the Committee may determine that such action is appropriate by reason of changes in applicable tax or other laws, changes in circumstances occurring after the commencement of the Restricted Period, or any other reason.
Restrictions on Transfer and Restricted Period. Except as otherwise provided in Section 3 or Section 8 of this Agreement, during the period commencing on the date of this Agreement and terminating on , 20 (the “Restricted Period”), Shares with respect to which the Restricted Period has not lapsed may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated by the Grantee. Shares with respect to which the Restricted Period has lapsed shall sometimes be referred to herein as “Vested.” Except as otherwise provided in Section 3 or Section 8 of this Agreement, provided that the Grantee is then serving as a director, officer, employee or consultant of the Company or any Subsidiary or Affiliate, Shares shall become Vested in accordance with the following schedule:
Restrictions on Transfer and Restricted Period. (a) During the period (the “Restricted Period”) hereinafter described, the Shares may not be sold, assigned, transferred, pledged, or otherwise encumbered by the Grantee.
(b) The Shares granted pursuant to paragraph 1. are subject to the restrictions in paragraph 2.(a) during the Restricted Period commencing on the date of this Agreement (the “Commencement Date”) and (subject to the forfeiture provisions herein) continuing through the date of vesting applicable to that portion of the Shares specified in clauses (i), (ii), and (iii) below:
(i) One-third of the Shares will vest on April 1, 2011 if TCF Financial’s return on equity (“RXX”) for fiscal year 2010 exceeds the mean of TCF Financial’s peer group of institutions (as such peer group applicable to fiscal year 2010 is disclosed in the proxy statement) and, if achieved, the restrictions shall lapse as to one-third of the Shares on the vesting date as finally determined by the Committee referred to in section 2. of the Program (the “Committee”).
(ii) One-third of the Shares will vest on April 1, 2012 if TCF Financial’s RXX for fiscal year 2011 exceeds the mean of TCF Financial’s peer group of institutions (as such peer group applicable to fiscal year 2011 is disclosed in the proxy statement) and, if achieved, the restrictions shall lapse as to one-third of the Shares on the vesting date as finally determined by the Committee.
(iii) One-third of the Shares will vest on April 1, 2013 if TCF Financial’s RXX for fiscal year 2012 exceeds the mean of TCF Financial’s peer group of institutions (as such peer group applicable to fiscal year 2012 is disclosed in the proxy statement) and, if achieved, the restrictions shall lapse as to one-third of the Shares on the vesting date as finally determined by the Committee. Notwithstanding the foregoing, as to any portion of the Shares for which the restrictions have not lapsed as a result of the failure to achieve the RXX goal applicable thereto, all rights of the Grantee to such portion of the Shares shall terminate and be forfeited effective as of April 2nd of the year in which such Shares would otherwise have vested and be returned to TCF Financial on or about that date.
Restrictions on Transfer and Restricted Period. Except as otherwise provided in Section 3 or Section 8 of this Agreement, during the period (the “Restricted Period”) commencing on the date of this Agreement and terminating on November 5, 2015, Shares with respect to which the Restricted Period has not lapsed may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated by the Grantee. Shares with respect to which the Restricted Period has lapsed shall sometimes be referred to herein as “Vested.” Except as otherwise provided in Section 3 or Section 8 of this Agreement and subject to Section 10(b) of the Employment Agreement, provided that the Grantee is then serving as a Director or an Employee of the Corporation or any Subsidiary, Shares shall become Vested in accordance with the following schedule: Date of Vesting Cumulative Shares Vested November 5, 2013 5,000 November 5, 2014 10,000 November 5, 2015 15,000 November 5, 2016 20,000 November 5, 2017 25,000
Restrictions on Transfer and Restricted Period. During the period (the “Restricted Period”) commencing on the date of this Award Agreement and terminating on November 29, 2013, Shares with respect to which the Restricted Period has not lapsed may not be sold, assigned, transferred, pledged, or otherwise encumbered by the Grantee except, in the event of the death of the Grantee, by will or the laws of descent and distribution or pursuant to a “domestic relations order,” as defined in Section 414(p)(1)(B) the Internal Revenue Code of 1986, as amended (the “Code”), or as hereinafter provided. Shares with respect to which the Restricted Period has lapsed shall sometimes be referred to herein as “Vested.” Provided that the Grantee has commenced employment under the Employment Agreement and does not incur a Termination of Service or termination of employment prior to the Commencement Date (as defined in the Employment Agreement), Shares shall become Vested in accordance with the following schedule: Date of Vesting Number of Shares Vested November 29, 2011 1434 November 29, 2012 1433 November 29, 2013 1433
Restrictions on Transfer and Restricted Period. Except as otherwise provided in this Section 2 or in Section 3 of this Agreement, during the period commencing on [ ] and terminating on [ ] (the "Restricted Period"), the Shares may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated by the Grantee, except in the event of the death of the Grantee, by will or the laws of descent and distribution, or, during the lifetime of the Grantee, pursuant to a Qualified Domestic Relations Order or by gift to any member of the Grantee's immediate family or to a trust for the benefit of Grantee or one or more of such immediate family members, provided, that such Shares shall remain subject to the provisions of the Agreement. For purposes of this Section 2, the Grantee's "immediate family" shall mean the lineal ascendants and lineal descendants of the Grantee or his or her spouse, or any one or more of them. The lapsing of the restrictions described above is sometimes referred to in this Agreement as "vesting." Subject to Section 3 of this Agreement, restrictions described above shall lapse, and the Shares will vest, per the following schedule: [ ] of the Shares will vest on each of [ ] (each a "Scheduled Vesting Date"), provided that Grantee is then serving as a director[, director emeritus or advisory director] of the Company or any Subsidiary.
Restrictions on Transfer and Restricted Period. Except as otherwise provided in Sections 3 or 8 of this Agreement, during the period commencing on ____________ and terminating on _______________ (the "Restricted Period"), the Shares may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated by the Grantee, except in the event of the death of the Grantee, by will or the laws of descent and distribution, or, during the lifetime of the Grantee, pursuant to a Qualified Domestic Relations Order or by gift to any member of the Grantee’s immediate family or to a trust for the benefit of one or more of such immediate family members. For purposes of this Section 2, the Grantee’s “immediate family” shall mean the Grantee’s spouse, children and grandchildren. The lapsing of the restrictions described above is sometimes referred to in this Agreement as “vesting.” Provided the Grantee is then serving as a director or an employee of the Company or any Subsidiary and subject to Sections 3 and 8 of this Agreement, the Shares will vest in full on __________.
Restrictions on Transfer and Restricted Period. During the period (the “Restricted Period”) commencing on the date of this Award Agreement and terminating on ___________, ____, Shares with respect to which the Restricted Period has not lapsed may not be sold, assigned, transferred, pledged, or otherwise encumbered by the Grantee except, in the event of the death of the Grantee, by will or the laws of descent and distribution, pursuant to a Domestic Relations Order, pursuant to a Family Member as and to the extent permitted by the Plan, or as hereinafter provided. Shares with respect to which the Restricted Period has lapsed shall sometimes be referred to herein as “Vested.” Provided that the Grantee does not incur a Termination of Service, Shares shall become Vested in accordance with the following schedule:
Restrictions on Transfer and Restricted Period. The Organization and Compensation Committee of the Company’s Board of Directors (the “Committee”) shall have the authority, in its discretion, to accelerate the time at which any or all of the restrictions shall lapse with respect to any RSUs, or to remove any or all of such restrictions. If the date on which the restrictions lapse is accelerated, in no event shall the Distribution Date be accelerated, except as otherwise provided herein.
Restrictions on Transfer and Restricted Period. (a) During the period (the “Restricted Period”) hereinafter described, the Shares may not be sold, assigned, transferred, pledged, or otherwise encumbered by the Grantee.
(b) The Shares will be subject to the restrictions in paragraph 2(a) during the Restricted Period commencing on the date of this Agreement (the “Commencement Date”) and (subject to the forfeiture provisions herein) continuing until January 31, 2011, when the restrictions will expire with respect to the “Earned Shares” as determined under sections 3 and 4.
