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.
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: Date of Vesting Number of Shares Vested
Restrictions on Transfer and Restricted Period. During the period (the “Restricted Period”) commencing on the date of this Award Agreement and terminating on November 23, 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 Cumulative Number of Shares Vested November 23, 2011 1,666 November 23, 2012 3,333 November 23, 2013 5,000
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 or pursuant to a "domestic relations order," as defined in Section 4l4(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: Date of Vesting Number of Shares Vested [5 years or more, beginning one year from date of grant.] 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 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 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. Except as otherwise provided in Sections 3 and 8 of this Agreement, during the period commencing on ____________ and terminating on _______________ (the "Restricted Period"), the Shares 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, 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 an employee of the Company or any Subsidiary and subject to Section 8 of this Agreement, the Shares will vest per the following schedule: 100% (one hundred percent) of the Shares will vest 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 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. Number of
Restrictions on Transfer and Restricted Period. During the period (the "Restricted Period") commencing on July 29, 1998, and terminating on July 29, 2002, the Shares may not be sold, assigned, transferred, pledged, or otherwise encumbered by the Grantee, except as hereinafter provided. Except as set forth below, the Shares will vest at a rate of 20% of the Shares per year of Continuous Service (as defined in the Plan) commencing on July 29, 1998 pursuant to the following schedule: % of the Date of Vesting Shares Vested --------------- ------------- July 29, 1998 20% July 29, 1999 20% July 29, 2000 20% July 29, 2001 20% July 29, 2002 20% Subject to the restrictions set forth in the Plan, the Committee referred to in Section 6 of the Plan or its successor (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 Shares thereto, 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, or other changes in circumstances occurring after the commencement of the Restricted Period.
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.
