Stock Retention. Executive agrees to own and hold by and after July 1, 2011 at least 6,000 shares of Company common stock (“Retained Stock”) during his employment with the Company (including any of its subsidiaries). The number of shares of Retained Stock shall be adjusted for stock splits, stock dividends, spin offs and other relevant changes in the Company’s capital structure. Retained Stock shall include (i) restricted stock issued to Executive that is no longer subject to a forfeiture restriction, (ii) stock held in an individual retirement account, 401(k) plan or other qualified plan pursuant to the Code for the primary benefit of the Executive and/or Executive’s spouse and (iii) stock held by the Executive’s spouse. Restricted stock granted to the Executive by the Company that is subject to forfeiture restrictions shall not be counted as Retained Stock.
Stock Retention. The Participant acknowledges and agrees that the Shares to be delivered upon vesting of the Stock Grant shall be subject to the Company’s stock retention requirements , which will be specified in the Notice of Grant. In the event that the Participant fails to comply with the stock retention requirements of this Section 10 and the Notice of Grant, the Participant shall be subject to such disciplinary action as the Committee determines, in its sole discretion, to be appropriate under the circumstances, including, but not limited to, termination of employment.
Stock Retention. The Participant agrees to retain and hold 40 percent of the net number of shares of Class A Stock received from the exercise of the Option until termination of the Participant’s employment.
Stock Retention. The Executive agrees to retain ownership of a number of shares of DFC common stock, or DFC common stock that is subject to any of the Executive’s vested and outstanding options, restricted stock units or stock appreciation rights, at least equal to the number of such shares granted pursuant to the equity award granted on or about November 1, 2009 until the earliest of (i) the first anniversary of his Retirement or Delayed Retirement, (ii) the first anniversary of his voluntary termination of employment that is not a Retirement or Delayed Retirement, (iii) the first anniversary of his termination of employment by the Company for Cause, (iv) a Change in Control, (v) Executive’s death and (vi) the termination of Executive’s employment by the Company without Cause or due to Disability, or by the Executive with Good Reason.
Stock Retention. The Participant acknowledges and agrees that the Shares to be delivered upon vesting of the Stock Grant shall be subject to the Company’s stock retention policy (the “Policy”) such that during the calendar year in which the Scheduled Vesting Date occurs the Participant may only sell, dispose or otherwise transfer up to seventy percent (70%) of the number of Shares delivered and that, subject to the Policy, the Participant shall not be required to hold the remaining Shares for a period greater than five (5) years after the Scheduled Vesting Date. In the event that the Participant fails to comply with the stock retention requirements of this Section 10 and the Policy, the Participant shall be subject to such disciplinary action as the Committee determines, in its sole discretion, to be appropriate under the circumstances, including, but not limited to, termination of employment.
Stock Retention. Executive acknowledges that the Company has established certain guidelines relating to the retention of a minimum number of shares of Company common stock (“Retained Stock”) during the employment of the executive officers by the Company (including any of its subsidiaries) and that such guidelines will be applicable to Executive. Such guidelines shall permit the Executive to sell shares of Company common stock, including Retained Stock, in order to satisfy any taxes arising from the receipt by the Executive of Company common stock pursuant to any Stock Option or Restricted Stock Award, and shall not require the Executive to purchase any shares of Company common stock. The number of shares of Retained Stock shall be adjusted for stock splits, stock dividends, spin offs and other relevant changes in the Company’s capital structure. Retained Stock shall include (i) restricted stock issued to Executive that is no longer subject to a forfeiture restriction, (ii) stock held in an individual retirement account, 401(k) plan or other qualified plan pursuant to the Code for the primary benefit of the Executive and/or Executive’s spouse and (iii) stock held by the Executive’s spouse. Restricted stock granted to the Executive by the Company that is subject to forfeiture restrictions shall not be counted as Retained Stock.
Stock Retention. During the 90-day period following the Effective Date and subject to all applicable laws and to the Company’s trading policies, Executive shall only be allowed to sell, pledge, encumber or otherwise transfer 100,000 shares of Company stock in total but not more than 50,000 shares in any one month period; provided, however, that the Company may withhold shares or Executive may sell shares in an amount sufficient to cover statutory tax withholding requirements in connection with the vesting, exercise or settlement of equity-based awards. From the end of such 90-day period until the earlier of (a) the date Executive is no longer employed by the Company and (b) the First Anniversary Date, Executive may sell or otherwise dispose of up to 10,000 of his shares per month. The amounts set forth above are cumulative.
Stock Retention. The Company and the Employee confirm that under the current stock retention guidelines adopted by the Compensation and Stock Option Committee of the Board of Directors, future grants of premium priced options to Employee will be conditioned upon the Employee's ownership of 10,000 shares of the Common Stock of the Company, provided, that in accordance with such policy, Employee will have until February 17, 2000 to establish said ownership level.
Stock Retention. Employee will own not less than 164,000 shares of the Company's common stock until June 30, 2003.
Stock Retention. “Named Executive Officers” of the Company for purposes of its public reporting and other executives of the Company expressly subject to the Company’s Statement of Policy Concerning Trading in the Company’s Securities will hold any Company stock acquired upon the exercise of stock options issued to them for one year following their exercise except to the extent necessary to (a) pay income and other taxes assessed upon exercise of the options or (b) to provide for funds for the exercise of the options (including any “cashless” exercise of the options).
