Custody of Restricted Shares. Any Common Stock certificates or book-entry shares evidencing such Restricted Shares shall be held in custody by Limoneira or, if specified by the Committee, with a custodian or trustee, until the restrictions thereon set forth in this Agreement shall have lapsed. The Participant agrees to deliver a stock power, duly endorsed in blank, relating to any such Restricted Shares in certificate or book entry form.
Custody of Restricted Shares. The Restricted Shares shall be issued and registered in the name of the Grantee and held, together with a stock power endorsed in blank, by the Chairman of the Executive Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of the Company or his designee. The grant of Restricted Shares shall constitute an immediate transfer of the record and beneficial ownership of such shares to the Grantee; however, the Restricted Shares shall not be transferable by the Grantee until such time as the restrictions on their transfer imposed by the terms hereof have expired and such shares are delivered to or on behalf of the Grantee pursuant to Section 7. No interest, right or benefit in any Restricted Shares shall in any manner be liable for or subject to any debts, obligations, contracts, liabilities or torts of the Grantee until such time as the shares have been delivered pursuant to Section 7. Until such time as the Restricted Shares have been delivered pursuant to Section 7, the shares may not be transferred, pledged, hypothecated or otherwise disposed of, except by will or the laws of descent and distribution, by the Grantee.
Custody of Restricted Shares. The Restricted Shares shall be issued by the Company and registered in Participant’s name on the stock transfer books of the Company. Such Restricted Shares shall remain in the physical custody of the Company or its designee at all times until the expiration of the vesting dates as specified in the vesting schedule, above.
Custody of Restricted Shares. Until the Restricted Shares have become vested and nonforfeitable as provided in Section 2, the Restricted Shares shall be issued in book-entry only form and shall not be represented by a certificate. The restrictions set forth in this Agreement shall be reflected on the stock transfer records maintained by or on behalf of the Company. Effective until the Restricted Shares have become vested and nonforfeitable as provided in Section 2, the Grantee hereby irrevocably constitutes and appoints the Chief Executive Officer of the Company, the Chief Financial Officer of the Company, and the Secretary of the Company, or any of them, as attorneys-in-fact to transfer to the Company or its designee, without further action, all or any portion of the Restricted Shares that are forfeited in accordance with this Agreement. The Grantee agrees to take any and all other actions (including without limitation executing, delivering, performing and filing such other agreements, instruments and documents) as the Company may deem necessary or appropriate to carry out and give effect to such transfer.
Custody of Restricted Shares. Upon satisfaction of the vesting conditions set forth in Paragraph 4, the Company shall issue and deliver to the Grantee a certificate or certificates for such number of Restricted Shares as are required to be issued and delivered pursuant to this Restricted Stock Grant. Prior to the satisfaction of such vesting conditions or the occurrence of such events, the Restricted Shares are not transferable and shall be held in trust or in escrow pursuant to an agreement satisfactory to the Committee until such time as the restrictions on their transfer have expired. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Grantee.
Custody of Restricted Shares. Upon satisfaction of the vesting conditions set forth in Paragraph 3, Company shall issue and deliver to Participant a certificate or certificates for such number of Restricted Shares as are required to be issued and delivered under this Restricted Stock Grant unless Participant elects to hold such shares on an uncertificated basis through the Company's stock transfer agent or such other agent as the Company may from time to time designate. Prior to the satisfaction of such vesting conditions or the occurrence of such events, the Restricted Shares may not be sold, transferred, assigned, pledged or otherwise encumbered or disposed of, and shall be held in custody by the Company until such time as the restrictions on their transfer have lapsed.
Custody of Restricted Shares. Upon satisfaction of the vesting conditions set forth in Paragraph 4 or the occurrence of any of the events contemplated by Paragraph 5(b) or 5(c), Company shall issue and deliver to Participant a certificate or certificates for such number of Restricted Shares as are required to be issued and delivered under the Restricted Stock Grant. Prior to the satisfaction of such vesting conditions or the occurrence of such events, the Restricted Shares are not transferable and shall be held in trust or in escrow pursuant to an agreement satisfactory to the Administrator until such time as the restrictions on their transfer have expired. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Participant.
Custody of Restricted Shares. The certificate(s) representing the Restricted Shares shall be held in custody by the Company until those shares have become vested and nonforfeitable in accordance with Section 2 of this Agreement. By execution of this Agreement and effective until the Restricted Shares have become vested and nonforfeitable as provided in Section 2, the Grantee hereby irrevocably constitutes and appoints the Company’s Secretary and the Company’s Chief Financial Officer, or any of them, as attorneys-in-fact to transfer on the books of the Company with full power of substitution all or any portion of the Restricted Shares that are forfeited in accordance with this Agreement. The Grantee agrees to take any and all other actions (including without limitation executing, delivering, performing and filing such other agreements, instruments and documents) as the Company may deem necessary or appropriate to carry out and give effect to such transfer.
