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

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. Except as otherwise provided in Sections Section 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 Section 3 and 8 of this Agreement, the Shares will vest in full per the following schedule: 100% (one hundred percent) of the Shares will vest on ___________.

Restrictions on Transfer and Restricted Period. Except as otherwise provided in Sections 3 or 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, assigned or otherwise alienated or hypothecated 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 qualified domestic relations order or by gift to any member of the Grantee’s '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 “'s "immediate family” " shall mean the Grantee’s '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 Section 8 of this Agreement, the Shares will vest in full per the following schedule: 100% (one hundred percent) of the Shares will vest on ___________.

Restrictions on Transfer and Restricted Period. Except as otherwise provided in Sections 3 or 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, assigned or otherwise alienated or hypothecated 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 qualified domestic relations order or by gift to any member of the Grantee’s '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 “'s "immediate family” " shall mean the Grantee’s '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 ______________.