Common use of Restrictions; Vesting Clause in Contracts

Restrictions; Vesting. The Restricted Stock shall be subject to the restrictions and other terms and conditions set forth in the Plan, which are hereby incorporated herein by reference, and in this Agreement. Subject to the terms and conditions of the Plan and this Agreement, Participant’s rights in and to the shares of Restricted Stock shall vest according to the following schedule: a. One-third of the shares of Restricted Stock shall vest on <Vesting Date>; b. One-third of the shares of Restricted Stock shall vest on <Vesting Date>; and c. The final one-third of the shares of Restricted Stock shall vest on <Vesting Date>. The shares of Restricted Stock awarded under this Agreement shall vest in accordance with the schedule set forth above unless, prior to the vesting date set forth above, the Award and the applicable shares of Restricted Stock are forfeited or have become subject to accelerated vesting under the terms and conditions of the Plan. Until the shares of Restricted Stock vest, Participant shall not sell, transfer, pledge, assign or otherwise encumber such shares of Restricted Stock or any interest therein.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Progressive Corp/Oh/), Restricted Stock Award Agreement (Progressive Corp/Oh/)

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Restrictions; Vesting. The Restricted Stock shall be subject to the restrictions and other terms and conditions set forth in the Plan, which are hereby incorporated herein by reference, and in this Agreement. Subject to the terms and conditions of the Plan and this Agreement, Participant’s 's rights in and to the shares of Restricted Stock shall vest according to the following schedule: a. One-third of the shares of Restricted Stock shall vest on <Vesting Date>;. b. One-third of the shares of Restricted Stock shall vest on <Vesting Date>; and. c. The final one-third of the shares of Restricted Stock shall vest on <Vesting Date>. The shares of Restricted Stock awarded under this Agreement shall vest in accordance with the schedule set forth above unless, prior to the vesting date set forth above, the Award and the applicable shares of Restricted Stock are forfeited or have become subject to accelerated vesting under the terms and conditions of the Plan. Until the shares of Restricted Stock vest, Participant shall not sell, transfer, pledge, assign or otherwise encumber such shares of Restricted Stock or any interest therein.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Progressive Corp/Oh/), Restricted Stock Award Agreement (Progressive Corp/Oh/)

Restrictions; Vesting. The Restricted Stock shall be subject to the restrictions and other terms and conditions set forth in the Plan, which are hereby incorporated herein by reference, and in this Agreement. Subject to the terms and conditions of the Plan and this Agreement, Participant’s rights in and to the shares of Restricted Stock shall vest according to the following schedule: a. One-third of the shares of Restricted Stock shall vest on <Vesting Date>;. b. One-third of the shares of Restricted Stock shall vest on <Vesting Date>; and. c. The final one-third of the shares of Restricted Stock shall vest on <Vesting Date>. The shares of Restricted Stock awarded under this Agreement shall vest in accordance with the schedule set forth above unless, prior to the vesting date set forth above, the Award and the applicable shares of Restricted Stock are forfeited or have become subject to accelerated vesting under the terms and conditions of the Plan. Until the shares of Restricted Stock vest, Participant shall not sell, transfer, pledge, assign or otherwise encumber such shares of Restricted Stock or any interest therein.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Progressive Corp/Oh/), Restricted Stock Award Agreement (Progressive Corp/Oh/)

Restrictions; Vesting. The Restricted Stock shall be subject to the restrictions and other terms and conditions set forth in the Plan, which are hereby incorporated herein by reference, and in this Agreement. Subject to the terms and conditions of the Plan and this Agreement, Participant’s rights in and to the shares of Restricted Stock shall vest according to the following schedule: a. One-third (a) of the shares of Restricted Stock shall vest on <Vesting Date>;. b. One-third (b) of the shares of Restricted Stock shall vest on <Vesting Date>; and. c. (c) The final one-third of the shares of Restricted Stock shall vest on <Vesting Date>. The shares of Restricted Stock awarded under this Agreement shall vest in accordance with the schedule set forth above unless, prior to the vesting date set forth above, the Award and the applicable shares of Restricted Stock are forfeited or have become subject to accelerated vesting under the terms and conditions of the Plan. Until the shares of Restricted Stock vest, Participant shall not sell, transfer, pledge, assign assign, or otherwise encumber such shares of Restricted Stock or any interest thereinStock.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Radiologix Inc)

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Restrictions; Vesting. The Restricted Stock shall be subject to the restrictions and other terms and conditions set forth in the Plan, which are hereby incorporated herein by reference, and in this Agreement. Subject to the terms and conditions of the Plan and this Agreement, Participant’s 's rights in and to the shares of Restricted Stock shall vest according to the following schedule: a. One-third of the shares of Restricted Stock shall vest on <Vesting Date>;. b. One-third of the shares of Restricted Stock shall vest on <Vesting Date>; and. c. The final one-third of the shares of Restricted Stock shall vest on <Vesting Date>. The shares of Restricted Stock awarded under this Agreement shall vest in accordance with the schedule set forth above unless, prior to the vesting date set forth above, the Award and the applicable shares of Restricted Stock are forfeited or have become subject to accelerated vesting under the terms and conditions of the Plan. Until the shares of Restricted Stock vest, Participant shall not sell, transfer, pledge, assign or otherwise encumber such shares of Restricted Stock or any interest thereinStock.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Progressive Corp/Oh/)

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