Common use of Section Escrow Clause in Contracts

Section Escrow. The Secretary of the Company, or such other escrow holder as the Committee may appoint, shall retain physical custody of the certificates representing Restricted Stock (but not any cash dividends or other distributions paid thereon which dividends or distributions shall be paid by the escrow holder, as soon as practicable, to the Holder of the applicable Restricted Stock) until all of the Restrictions lapse or shall have been removed; provided, however, that in no event shall the Holder retain physical custody of any certificates representing unvested Restricted Stock issued to the Holder.