Common use of Sale Restriction Agreement Clause in Contracts

Sale Restriction Agreement. Pursuant to the terms of the Sale Restriction Agreement, twenty percent (20%) of the Restricted Shares are released from the Sale Restriction (as defined in the Sale Restriction Agreement) on each anniversary of November 4, 2013, subject to the Executive’s continued service to the Company. The following shall apply to the release of the Sale Restriction with respect to the Restricted Shares: (i) Eighty percent (80%) of the Restricted Shares have been released from the Sale Restriction as of the date hereof. (ii) An additional twenty percent (20%) of the Restricted Shares will be released from the Sale Restriction on the remaining anniversary (i.e., November 4, 2018). (iii) If the Executive violates the Non-Compete Covenant prior to the last release date on November 4, 2018, then the portion of the Restricted Shares that have not been released as of the date of such violation will be delayed and not released from the Sale Restriction until the fifth anniversary of the date you cease to provide services to the Company.

Sale Restriction Agreement. Pursuant to the terms of the Sale Restriction Agreement, twenty percent (20%) of the Restricted Shares are released from the Sale Restriction (as defined in the Sale Restriction Agreement) on each anniversary of November 4, 2013, subject to the Executive’s continued service to the Company. The following shall apply to the release of the Sale Restriction with respect to the Restricted Shares: (i) Eighty Forty percent (8040%) of the Restricted Shares have been released from the Sale Restriction as of the date hereof. (ii) An additional twenty percent (20%) of the Restricted Shares will be released from the Sale Restriction on the each remaining anniversary of November 4, 2013 (i.e., November 4, 2016, November 4, 2017 and November 4, 2018). (iii) If the Executive violates you violate the Non-Compete Covenant prior to the last release date on November 4, 2018, then the portion of the your Restricted Shares that have not been released as of the date of such violation will be delayed and not released from the Sale Restriction until the fifth anniversary of the date you cease to provide services to the Company.

Sale Restriction Agreement. Pursuant to the terms of the Sale Restriction Agreement, twenty percent (20%) of the Restricted Shares are released from the Sale Restriction (as defined in the Sale Restriction Agreement) on each anniversary of November 4, 2013, subject to the Executive’s continued service to the Company. The following shall apply to the release of the Sale Restriction with respect to the Restricted Shares: (i) Eighty Sixty percent (8060%) of the Restricted Shares have been released from the Sale Restriction as of the date hereof. (ii) An additional twenty percent (20%) of the Restricted Shares will be released from the Sale Restriction on the each remaining anniversary of November 4, 2013 (i.e., November 4, 2017 and November 4, 2018). (iii) If the Executive violates the Non-Compete Covenant prior to the last release date on November 4, 2018, then the portion of the your Restricted Shares that have not been released as of the date of such violation will be delayed and not released from the Sale Restriction until the fifth anniversary of the date you cease to provide services to the Company.