LIMITATIONS ON DISPOSITION definition
LIMITATIONS ON DISPOSITION. If at any time your holdings of Shares do not satisfy any stock ownership guidelines adopted by the Company and in effect with respect to you from time to time (determined without regard to any grace period following the date of your initial employment for the accumulation of Shares), then unless and until you either terminate employment with the Company or satisfy such stock ownership guidelines (determined without regard to any such grace period), you shall be prohibited from selling, transferring or otherwise disposing of the Shares delivered to you under this Agreement if, immediately after such sale, transfer or other disposition, the number of Shares then held of record by you would not satisfy such stock ownership guidelines (determined without regard to any such grace period), and the Company may place a restrictive legend to this effect on the certificates delivered to you upon vesting. The Company shall remove any such legend from a Share upon your termination of Service or your earlier demonstration that you will satisfy any stock ownership guidelines adopted by the Company and in effect with respect to you from time to time (determined without regard to any such grace period) following your sale, transfer or other disposition of such Share.
Examples of LIMITATIONS ON DISPOSITION in a sentence
LIMITATIONS ON DISPOSITION OF VOTING STOCK OF PRINCIPAL SUBSIDIARY BANKS...............57 SECTION 10.08.
LIMITATIONS ON DISPOSITION OF ASSETS; ASSIGNMENT, SALE OR LEASE OF PROJECT..................
THE OPTIONEE HEREBY AGREES THAT ALL OPTIONED SHARES ACQUIRED UPON THE EXERCISE OF THIS OPTION SHALL BE SUBJECT TO CERTAIN LIMITATIONS ON DISPOSITION AND THE LIKE IN THE EVENT OF AN UNDERWRITTEN PUBLIC OFFERING OR OTHERWISE, IN ACCORDANCE WITH THE TERMS AND CONDITIONS SPECIFIED IN THE PURCHASE AGREEMENT AND THIS STOCK OPTION AGREEMENT.