Terms of Restricted Stock. (a) The Restricted Stock is subject to forfeiture as provided herein and, during the Restriction Period defined below, may not be sold, exchanged, transferred, pledged, hypothecated or otherwise disposed of by the Participant, other than by will or by the laws of descent and distribution of the state in which the Participant resides on the date of his death. The period during which the Restricted Stock is not vested and is subject to transfer restrictions is referred to herein as the "Restriction Period."
Appears in 3 contracts
Samples: Share Purchase Agreement (Sanderson Farms Inc), Share Purchase Agreement (Sanderson Farms Inc), Share Purchase Agreement (Sanderson Farms Inc)
Terms of Restricted Stock. (a) The Restricted Stock is subject to forfeiture as provided herein and, during the Restriction Period defined below, may not be sold, exchanged, transferred, pledged, hypothecated or otherwise disposed of by the Participant, other than by will or by the laws of descent and distribution of the state in which the Participant resides on the date of his death. The period during which the Restricted Stock is not vested and is subject to transfer restrictions is referred to herein as the "βRestriction Period."β
Appears in 3 contracts
Samples: Share Purchase Agreement (Sanderson Farms Inc), Share Purchase Agreement (Sanderson Farms Inc), Share Purchase Agreement (Sanderson Farms Inc)