Common use of Restrictions on Transfer of Restricted Stock Clause in Contracts

Restrictions on Transfer of Restricted Stock. The Restricted Stock may not be transferred, sold, pledged, exchanged, assigned or otherwise encumbered or disposed of by the Grantee, except to the Company, until the shares have become nonforfeitable in accordance with Section 1. Any purported transfer, encumbrance or other disposition of the Restricted Stock that is in violation of this Section 5 shall be null and void, and the other party to any such purported transaction shall not obtain any rights to or interest in the Restricted Stock

Restrictions on Transfer of Restricted Stock. The Restricted Stock may not be transferred, sold, pledged, exchanged, assigned or otherwise encumbered or disposed of by the Grantee, except to the Company, until the shares have it has become nonforfeitable in accordance with Section 13. Any purported transfer, encumbrance or other disposition of the Restricted Stock that is in violation of this Section 5 2 shall be null and void, and the other party to any such purported transaction shall not obtain any rights to or interest in the Restricted Stock.