Additional Restriction Period definition
Examples of Additional Restriction Period in a sentence
Notwithstanding the vesting of Shares and your right to sell or transfer a portion of the Shares during the Additional Restriction Period, you agree that you will not sell or otherwise transfer Shares if the consequence of such sale or transfer would reduce your total Common Stock ownership below such minimum ownership guidelines or requirements as they may exist at the time you would otherwise wish to sell or transfer Shares.
Subject to limitations on transfer during the Additional Restriction Period, on each such vesting date, you will obtain unrestricted ownership of the Shares that vest on such vesting date.
Vesting will occur only if you have continuously been an employee of an Employer from the Grant Date through the vesting date; provided, however, that notwithstanding the foregoing, Shares that comprise the Recognition Award that are unvested as of the date of your termination of employment with an Employer by reason of your death or Disability shall vest immediately upon such termination, and the Restriction Period and Additional Restriction Period applicable to all such Shares shall expire.
Notwithstanding anything to the contrary in the foregoing, all unvested Shares shall become 100% vested upon the occurrence of a Change of Control if you are an employee of an Employer at the time a Change of Control occurs, and the Restriction Period and Additional Restriction Period applicable to all such Shares shall expire.
CFC IPA also acknowledges that if a holder of the Buyer Parent Shares is an “affiliate” of Buyer Parent following the Additional Restriction Period, any sales made by such holder also shall be subject to the limitations applicable to sales by an “affiliate” of Buyer Parent under Rule 144.
CFC IPA acknowledges that the Buyer Parent Shares will not be eligible for offer, resale, transfer, pledge or disposition pursuant to Rule 144 promulgated under the Securities Act (“Rule 144”) until after the Additional Restriction Period expires.
To the extent required to enable such holders to sell Buyer Parent Shares after the Additional Restriction Period expires pursuant to Rule 144, Buyer Parent will use commercially reasonable efforts to file with the Securities and Exchange Commission all reports required to be filed to meet the requirements of Rule 144(c)(1).
Except for the restrictions on the Additional Restricted Shares during the Additional Restriction Period set forth in the immediately preceding sentence, Executive shall have all of the rights of a shareholder with respect to the Additional Restricted Shares, including without limitation the right to vote the shares and receive dividends and other distributions.
During the Additional Restriction Period, dividends and other distributions payable in capital stock of the Company received by the Executive shall be subject to the foregoing restrictions.