Common use of Rights with Regard to Restricted Shares Clause in Contracts

Rights with Regard to Restricted Shares. The Participant will have the right to vote the Restricted Shares, to receive and retain all regular cash dividends payable to holders of Plan Shares of record on and after the transfer of the Restricted Shares (although such dividends shall be treated, to the extent required by applicable law, as additional compensation for tax purposes if paid on Restricted Shares), and to exercise all other rights, powers and privileges of a holder of Common Shares with respect to the Restricted Shares set forth in the Plan, with the exceptions that: (i) the Participant will not be entitled to delivery of the share certificate or certificates representing the Restricted Shares until the Restricted Period shall have expired; (ii) the Company (or its designated agent) will retain custody of the share certificate or certificates representing the Restricted Shares and the other RS Property during the Restricted Period; (iii) no RS Property shall bear interest or be segregated in separate accounts during the Restricted Period; and (iv) the Participant may not sell, assign, transfer, pledge, exchange, encumber or dispose of the Restricted Shares during the Restricted Period, except as set forth in the Plan, this Agreement or the Employment Agreement.

Appears in 8 contracts

Samples: Performance Vesting Share Option Agreement (United America Indemnity, LTD), Time Vesting Share Option Agreement (United America Indemnity, LTD), Executive Employment Agreement (United America Indemnity, LTD)

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Rights with Regard to Restricted Shares. The Participant will have the right to vote the Restricted Shares, to receive and retain all regular cash any dividends payable to holders of Plan Shares of record on and after the transfer of the Restricted Shares (although such dividends shall be treated, to the extent required by applicable law, as additional compensation for tax purposes if paid on Restricted SharesShares and stock dividends will be subject to the restrictions provided in Section 3(a)), and to exercise all other rights, powers and privileges of a holder of Common Shares Share with respect to the Restricted Shares set forth in the PlanShares, with the exceptions that: (i) the Participant will not be entitled to delivery of the share stock certificate or certificates representing the Restricted Shares until the Restricted Restriction Period shall have expired; (ii) the Company (or its designated agent) will retain custody of the share stock certificate or certificates representing the Restricted Shares and the other RS Property during the Restricted Restriction Period; (iii) no RS Property shall bear interest or be segregated in separate accounts during the Restricted Restriction Period; and (iv) the Participant may not sell, assign, transfer, pledge, exchange, encumber hypothecate or otherwise dispose of the Restricted Shares during the Restricted Restriction Period, except as set forth in the Plan, this Agreement or the Employment Agreement.

Appears in 1 contract

Samples: Restricted Share Agreement (Reunion Hospitality Trust, Inc.)

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