Common use of Transfer and Forfeiture of Shares Clause in Contracts

Transfer and Forfeiture of Shares. Subject to the terms hereof, shares of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered until the expiration of the Restriction Period. Except as otherwise expressly provided in paragraph 6, if the Termination of Service occurs prior to the end of the Restriction Period, the Executive shall forfeit the shares of Restricted Stock effective as of the date of the Termination of Service.

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (Imco Recycling Inc), Restricted Stock Award Agreement (Imco Recycling Inc), Award Agreement (Imco Recycling Inc)

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Transfer and Forfeiture of Shares. Subject to the terms hereof, shares --------------------------------- of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered until the expiration of the Restriction Period. Except as otherwise expressly provided in paragraph 6, if the Termination of Service occurs EXHIBIT A prior to the end of the Restriction Period, the Executive shall forfeit the shares of Restricted Stock effective as of the date of the Termination of Service.

Appears in 2 contracts

Samples: Employment Agreement (Imco Recycling Inc), Employment Agreement (Imco Recycling Inc)

Transfer and Forfeiture of Shares. Subject to the terms hereof, shares of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered until the expiration of the Restriction Period. Except as otherwise expressly provided in paragraph 6, if the Termination of Service occurs prior to the end of the Restriction Period, the Executive shall forfeit the shares of Restricted Stock effective as of the date of the Termination of Service.

Appears in 1 contract

Samples: Restricted Stock (Imco Recycling Inc)

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Transfer and Forfeiture of Shares. Subject to the terms hereof, shares --------------------------------- of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered until the expiration of the Restriction Period. Except as otherwise expressly provided in paragraph 6, if the Termination of Service occurs prior to the end of the Restriction Period, the Executive shall forfeit the shares of Restricted Stock effective as of the date of the Termination of Service.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Imco Recycling Inc)

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