Common use of Restrictions on Transfer and Restricted Period Clause in Contracts

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

Appears in 1 contract

Samples: Employment Agreement (First Pactrust Bancorp Inc)

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Restrictions on Transfer and Restricted Period. During the period (the “Restricted Period”) commencing on the date of this Award Agreement and terminating on November 29May 6, 20132014, 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 29, 2011 1434 November 29May 6, 2012 1433 November 29May 6, 2013 1433May 6, 2014 1,666 3,333 5,000

Appears in 1 contract

Samples: Employment Agreement (First Pactrust Bancorp Inc)

Restrictions on Transfer and Restricted Period. During the period (the "Restricted Period") commencing on the date of this Award Agreement and terminating on November 2917, 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:

Appears in 1 contract

Samples: Employment Agreement (First Pactrust Bancorp Inc)

Restrictions on Transfer and Restricted Period. During the period (the “Restricted Period”) commencing on the date of this Award Agreement and terminating on November 2923, 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 29, 2011 1434 November 29, 2012 1433 November 29, 2013 1433Vested

Appears in 1 contract

Samples: Employment Agreement (First Pactrust Bancorp Inc)

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Restrictions on Transfer and Restricted Period. During the period (the “Restricted Period”) commencing on the date of this Award Agreement and terminating on November 2923, 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:

Appears in 1 contract

Samples: Employment Agreement (First Pactrust Bancorp Inc)

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