Examples of Unrestricted Stock in a sentence
Notwithstanding anything to the contrary in this Agreement, in the event of a Change in Control at any time prior to the date on which the Restricted Stock Signing Bonus Grant shall become Unrestricted Stock as set forth in Paragraph 5, then all of the shares of the Restricted Stock Signing Bonus Grant shall immediately become Unrestricted Stock upon such Change in Control, and the Executive immediately shall own such shares free of all restrictions otherwise imposed by this Agreement.
Subject to the provisions of Paragraph 6 of this Agreement, 50% of the Restricted Stock Signing Bonus Grant shall cease to be restricted and shall become non-forfeitable (thereafter being referred to as “Unrestricted Stock”) on the first anniversary of the Grant Date, and the remainder of the Restricted Stock Signing Bonus Grant shall vest and become Unrestricted Stock on the second anniversary of the Grant Date.
Notwithstanding anything to the contrary in the Plan or in this Agreement, in the event of a Change in Control at any time prior to the date on which the Restricted Stock shall become Unrestricted Stock as set forth in Paragraph 5, then all of the shares of Restricted Stock shall immediately become Unrestricted Stock, and the Participant immediately shall own such shares free of all restrictions otherwise imposed by this Agreement.
Unrestricted Stock Awards may be granted in respect of past services or other valid consideration, or in lieu of cash compensation due to such grantee.
The Company (or any affiliate) shall not have any duty or obligation to disclose affirmatively to a record or beneficial holder of Company stock, restricted stock or Unrestricted Stock, and such holder shall have no right to be advised of, any material information regarding the Company at any time prior to, upon or in connection with receipt of the Restricted Stock Signing Bonus Grant or any Unrestricted Stock.