Cancellation of Restricted Shares Sample Clauses

Cancellation of Restricted Shares. If the Company shall make available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Restricted Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time the person from whom such shares are to be repurchased shall no longer have any rights as a holder of such shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such shares shall be deemed purchased in accordance with the applicable provisions hereof, and the Company shall be deemed the owner and holder of such shares, whether or not the certificates therefor have been delivered as required by this Agreement.
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Cancellation of Restricted Shares. In addition to the terms and conditions set forth in the Plan, upon a termination of the Employment Agreement by the Company for Cause or the resignation of employment by Grantee, any unvested Restricted Shares shall automatically be cancelled without any further action on behalf of the Company or Grantee.
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Cancellation of Restricted Shares. The Restricted Shares are hereby cancelled.
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Cancellation of Restricted Shares. (a) To the extent that, on or before the fifth anniversary of the Closing Date, the First Tier Vesting Event has not occurred with respect to a Restricted Unit pursuant to the Amended and Restated Company LLC Agreement and as a result any share of Series C-1 Common Stock has not converted in accordance with Section 5 hereof, then immediately and without any further action under this letter agreement, on the date that is the fifth anniversary of the Closing Date, 620,625 shares of Series C-1 Common Stock shall automatically be forfeited to Pubco and canceled for no consideration therefor and shall cease to be outstanding and any dividend declared in respect of such shares of Series C-1 Common Stock shall also be forfeited to Pubco for no consideration therefor.
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Cancellation of Restricted Shares. Captain’s Crew LLC will cancel the 18,000,000 (pre 4.04 for 1 split) shares of common stock it owns so that Realco will have 990,000 pre 4.04 for 1 split shares (3,999,600 post forward split shares) of common stock issued and outstanding at the Closing, without giving effect to the shares of common stock or warrants being issued in the PPO.
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Cancellation of Restricted Shares. If any or all of the Restricted Shares are forfeited in accordance with the terms hereof, then from and after such time as any such Restricted Shares are forfeited, the holder of those Restricted Shares shall no longer have any rights as a holder of such shares, and such Restricted Shares shall be deemed cancelled.
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Cancellation of Restricted Shares. As promptly as practicable after the date hereof and in any event prior to the Effective Time, the Company shall cancel the Cancelled Restricted Shares for no consideration.
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Cancellation of Restricted Shares. In the event that the Restricted Shares do not become Unrestricted Shares pursuant to Sections 1.1(b), 1.1(c), or 1.1(d), the Restricted Shares shall be automatically cancelled by Parent for no consideration, without the requirement for any further action on the part of the Holder, Parent or any other Person. The Holder agrees they shall have no rights to such cancelled Restricted Shares.
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Related to Cancellation of Restricted Shares

  • Issuance of Restricted Shares (a) The Restricted Shares are issued to the Recipient, effective as of the Grant Date (as set forth on the cover page of this Agreement), in consideration of employment services rendered and to be rendered by the Recipient to the Company.

  • Forfeiture of Restricted Shares Subject to Section 4(b), if your Service to the Company or any Affiliate terminates before all of the Restricted Shares have vested, or if you attempt to transfer Restricted Shares in a manner contrary to the transfer restrictions, you will immediately forfeit all unvested Restricted Shares. Any Restricted Shares that are forfeited shall be returned to the Company for cancellation.

  • Vesting of Restricted Shares The Restricted Shares are subject to forfeiture to the Company until they become nonforfeitable in accordance with this Section 2. While subject to forfeiture, the Restricted Shares may not be sold, pledged, assigned, otherwise encumbered or transferred in any manner, whether voluntarily or involuntarily by the operation of law.

  • Treatment of Restricted Stock Subject to Article III, Section C of the Plan and Section 13(b), in the event of a Change in Control, in the Company’s discretion, (i) the unvested shares of Restricted Stock may be continued (if the Company is the surviving entity); (ii) the unvested shares of Restricted Stock may be assumed by the successor entity or parent thereof; (iii) the successor entity or parent thereof may substitute for the shares of unvested Restricted Stock a similar stock award with substantially similar terms; (iv) an appropriate substitution of cash or other securities or property may be made for the unvested shares of Restricted Stock based on the Fair Market Value of the Shares issuable upon vesting of the Restricted Stock at the time of the Change in Control; and/or (v) vesting of the unvested Restricted Stock may be accelerated upon the Change in Control.

  • Grant of Restricted Shares (a) The Company hereby grants to the Grantee an award (the “Award”) of shares of Common Stock of the Company (the “Shares” or the “Restricted Shares”) on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan.

  • Non-Transferability of Restricted Stock The Restricted Stock and this Restricted Stock Agreement shall not be transferable.

  • Forfeiture of Restricted Stock Upon the termination of your employment by you, the Company or its Subsidiaries for any reason other than those set forth in Section 4 hereof prior to such vesting, in addition to the circumstance described in Section 9(a) hereof, any and all Shares of Restricted Stock which have not become vested in accordance with Section 3, 4 or 5 hereof shall be forfeited and shall revert to the Company.

  • Terms of Restricted Stock Units The grant of RSUs provided in Section 1 hereof shall be subject to the following terms, conditions and restrictions:

  • Escrow of Restricted Shares The Company shall evidence the Restricted Shares in the manner that it deems appropriate. The Company may issue in your name a certificate or certificates representing the Restricted Shares and retain such certificate(s) until the restrictions on such Restricted Shares expire as described in Section 5 or 6 of this Agreement or the Restricted Shares are forfeited as described in Section 4 and 6 of this Agreement. If the Company certificates the Restricted Shares, you shall execute one or more stock powers in blank for those certificates and deliver those stock powers to the Company. The Company shall hold the Restricted Shares and the related stock powers pursuant to the terms of this Agreement, if applicable, until such time as (a) a certificate or certificates for the Restricted Shares are delivered to you, (b) the Restricted Shares are otherwise transferred to you free of restrictions, or (c) the Restricted Shares are canceled and forfeited pursuant to this Agreement.

  • Vesting of Restricted Stock The restrictions and conditions in Paragraph 2 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date.

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