Common use of Vesting and Forfeiture of Restricted Stock Clause in Contracts

Vesting and Forfeiture of Restricted Stock. Subject to earlier vesting in accordance with the provisions of Paragraph 7(b) below, Grantee shall become vested as to 50% of the shares of Restricted Shares subject to this Agreement as of four years following the Grant Date, and Grantee shall become vested as to the remaining 50% of the shares of Restricted Shares subject to this Agreement as of five years following the Grant Date, each such date being a Vesting Date; provided, however, that Grantee shall not vest, pursuant to this Paragraph 4, in shares of Restricted Shares as to which Grantee would otherwise vest as of a given date if Grantee has not been continuously employed by the Company or its Subsidiaries from the date of this Agreement through such date (the vesting or forfeiture of such shares to be governed instead by the provisions of Paragraph 5). Notwithstanding the foregoing, in the event that any date on which vesting would otherwise occur is a Saturday, Sunday or a holiday, such vesting shall instead occur on the business day next following such date.

Vesting and Forfeiture of Restricted Stock. Subject to earlier vesting in accordance with the provisions of Paragraph 7(b) below, and subject to shareholder approval of the Plan at the ____________ annual meeting of the shareholders of the Company, Grantee shall become vested as to 50% of the shares of Restricted Shares subject to this Agreement as of four years following the Grant Date, and Grantee shall become vested as to the remaining 50% of the shares of Restricted Shares subject to this Agreement as of five years following the Grant Date, each such date being a Vesting Date; provided, however, that Grantee shall not vest, pursuant to this Paragraph 4, in shares of Restricted Shares as to which Grantee would otherwise vest as of a given date if Grantee has not been continuously employed by the Company or its Subsidiaries from the date of this Agreement through such date (the vesting or forfeiture of such shares to be governed instead by the provisions of Paragraph 5). Notwithstanding the foregoing, in the event that any date on which vesting would otherwise occur is a Saturday, Sunday or a holiday, such vesting shall instead occur on the business day next following such date.

Vesting and Forfeiture of Restricted Stock. Subject to earlier vesting in accordance with the provisions of Paragraph 7(b) below, and subject to shareholder approval of the Plan at the _____________ annual meeting of the shareholders of the Company, Grantee shall become vested as to 50% of the shares of Restricted Shares subject to this Agreement as of four years following the Grant Date, and Grantee shall become vested as to the remaining 50% of the shares of Restricted Shares subject to this Agreement as of five years following the Grant Date, each such date being a Vesting Date; provided, however, that Grantee shall not vest, pursuant to this Paragraph 4, in shares of Restricted Shares as to which Grantee would otherwise vest as of a given date if Grantee has not been continuously employed by the Company or its Subsidiaries from the date of this Agreement through such date (the vesting or forfeiture of such shares to be governed instead by the provisions of Paragraph 5). Notwithstanding the foregoing, in the event that any date on which vesting would otherwise occur is a Saturday, Sunday or a holiday, such vesting shall instead occur on the business day next following such date.

Vesting and Forfeiture of Restricted Stock. Subject to earlier vesting in accordance with the provisions of Paragraph 7(b) below, Grantee shall become vested as to 50% of the shares of Restricted Shares subject to this Agreement as of four years following the Grant Dateon September 3, 2002; and Grantee shall become vested as to the remaining 50% of the shares of Restricted Shares subject to this Agreement as of five years following the Grant DateSeptember 3, 2003, each such date being a Vesting Date; provided, however, that Grantee shall not vest, pursuant to this Paragraph 4, in shares of Restricted Shares as to which Grantee would otherwise vest as of a given date if Grantee has not been continuously employed by the Company or its Subsidiaries from the date of this Agreement through such date (the vesting or forfeiture of such shares to be governed instead by the provisions of Paragraph 5). Notwithstanding the foregoing, in the event that any date on which vesting would otherwise occur is a Saturday, Sunday or a holiday, such vesting shall instead occur on the business day next following such date.