Retention of Restricted Stock in Book Entry Form. The Restricted Stock shall be held at the Company’s transfer agent in book entry form with appropriate restrictions relating to the transfer of such Restricted Stock until all restrictions thereon shall have lapsed.
Retention of Restricted Stock in Book Entry Form. The Restricted Stock will be held at the Company’s transfer agent in book entry form with appropriate restrictions relating to the transfer of such Restricted Stock until all restrictions thereon will have lapsed. 1 For employees of the Folgers business, use the following for Section 3(b): [Notwithstanding the provisions of Article II, Section 3(a), (i) all of the Restricted Stock covered by this Agreement shall immediately become nonforfeitable if at any time during the four-year period from the Date of Grant, the Grantee has either (A) reached the age of 60 with at least ten years of combined service with the Folgers business and the Company or its Subsidiaries or (B) reached the age of 57½ years of age and has at least twenty years of combined service with the Folgers business and the Company or its Subsidiaries (the applicable date in (A) or (B), the “Age and Service Vesting Date”), or (C) the grantee has satisfied the Age and Service Vesting Date as of the Date of Grant; provided, further, that the Grantee was at least 48 years of age as of November 19, 2008; and (ii) as of the Age and Service Vesting Date, the restrictions set forth in Article II, Section 2 shall lapse with respect to 50% of such Restricted Stock and the restrictions set forth in Article II, Section 2 shall lapse with respect to the remaining 50% of such Restricted Stock as of the earlier of the date set forth in Article II, Section 3(a) or the occurrence of the applicable vesting event set forth in Article II, Section 3(c) or (d).] - 2 -
