Restricted Share Awards definition
Examples of Restricted Share Awards in a sentence
Certificates for shares issued pursuant to Restricted Share Awards shall bear an appropriate legend referring to such restrictions, and any attempt to dispose of any such shares in contravention of such restrictions shall be null and void and without effect.
Restricted Share Awards, and any rights and interests with respect thereto, issued under this Award Agreement and the Plan shall not, prior to vesting, be sold, exchanged, transferred, assigned, or otherwise disposed of in any way by the Participant (or any beneficiary(ies) of the Participant), other than by testamentary disposition by the Participant or the laws of descent and distribution.
Except as otherwise provided in an Award Agreement or other written agreement between a Participant and the Company or an Affiliate, vesting of Restricted Share Awards will cease upon termination of a Participant’s Continuous Service.
The Plan provides for the grant of the following types of Awards: (i) Options, (ii) Share Appreciation Rights, (iii) Restricted Share Awards, (iv) Restricted Share Unit Awards, and (v) Other Awards.
Such Restricted Share Awards shall have terms and conditions as to vesting that are no less favorable to Executive than the terms applicable to the most recent grant of similar equity awards to Executive.
Subject to the immediately preceding sentence, the remaining terms and conditions of the Restricted Share Awards shall be determined by the Compensation Committee, but subject to the terms and conditions of the plan under which any such award is granted.
The Surviving Corporation shall issue to the holders of Director Restricted Share Awards the Merger Consideration in respect of the applicable number of Shares described in the immediately preceding sentence, less such amounts as are required to be withheld or deducted under the Code or any provision of state, local or foreign Tax Law with respect to the making of such payment, within five (5) business days following the Effective Time.
Certificates for shares issued pursuant to Restricted Share Awards, if issued, shall bear an appropriate legend referring to such restrictions, and any attempt to dispose of any such shares in contravention of such restrictions shall be null and void and without effect.
In the event of a Change in Control solely in connection with the transactions contemplated by the Acquisition Agreement, Sections 15.1 and 15.2 of the Plan shall not apply to this Agreement and the Restricted Stock shall be treated in accordance with the terms set forth in the Acquisition Agreement for Company Restricted Share Awards subject to a Letter Agreement (each as defined in the Acquisition Agreement).
At the Effective Time, Parent shall issue the Parent Restricted Share Awards in accordance with Sections 3.5(c)(ii) and 3.5(c)(iii).