Common use of Return of Shares Clause in Contracts

Return of Shares. Upon the occurrence of any forfeiture of the Restricted Shares pursuant to Section 7(a), such unvested, forfeited shares and related Restricted Property shall, without payment of any consideration by the Corporation for such transfer, be automatically transferred to the Corporation, without any other action by the Executive, or the Executive’s beneficiary or personal representative, as the case may be. The Corporation may exercise its powers under Section 6 hereof and take any other action necessary or advisable to evidence such transfer. The Executive or any permitted transferee of the Executive, or any such person’s beneficiary or personal representative, as the case may be, shall deliver any additional documents of transfer that the Corporation may request to confirm the transfer of such unvested, forfeited shares and related Restricted Property to the Corporation.

Return of Shares. Upon the occurrence of any forfeiture of the shares of Restricted Shares pursuant to Section 7(a)Stock hereunder, such unvested, forfeited shares and related Restricted Property shall, without payment of any consideration by the Corporation for such transfer, be automatically transferred to the Corporation, without any other action by the ExecutiveGrantee, or the Executive’s beneficiary Grantee's Beneficiary or personal representativePersonal Representative, as the case may be. The Corporation may exercise its powers under Section 6 7(d) hereof and take any other action necessary or advisable to evidence such transfer. The Executive or any permitted transferee of the ExecutiveGrantee, or any such person’s beneficiary the Grantee's Beneficiary or personal representativePersonal Representative, as the case may be, shall deliver any additional documents of transfer that the Corporation may request to confirm the transfer of such unvested, forfeited shares and related Restricted Property to the Corporation.

Return of Shares. Upon the occurrence of any forfeiture of the Restricted Shares pursuant to Section 7(a)6.1, such unvested, forfeited shares and related Restricted Property shall, without payment of any consideration by the Corporation for such transfer, be automatically transferred to the Corporation, without any other action by the ExecutiveGrantee, or the ExecutiveGrantee’s beneficiary or personal representative, as the case may be. The Corporation may exercise its powers under Section 6 5.4 hereof and take any other action necessary or advisable to evidence such transfer. The Executive or any permitted transferee of the ExecutiveGrantee, or any such personthe Grantee’s beneficiary or personal representative, as the case may be, shall deliver any additional documents of transfer that the Corporation may request to confirm the transfer of such unvested, forfeited shares and related Restricted Property to the Corporation.