Common use of Delivery of Certificates Upon Vesting Clause in Contracts

Delivery of Certificates Upon Vesting. Upon the lapse of restrictions relating to any Restricted Shares, the Company shall, as applicable, either remove the notations on any such Restricted Shares issued in book-entry form or deliver to the Grantee or the Grantee's personal representative a stock certificate representing a number of shares of common stock, free of the restrictive legend described above, equal to the number of Restricted Shares with respect to which such restrictions have lapsed. If certificates representing such Restricted Shares shall have heretofore been delivered to the Grantee, such certificates shall be returned to the Company, complete with any necessary signatures or instruments of transfer prior to the issuance by the Company of such unlegended Restricted Shares of common stock.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Iec Electronics Corp), Restricted Stock Award Agreement (Iec Electronics Corp)

AutoNDA by SimpleDocs

Delivery of Certificates Upon Vesting. Upon the lapse of restrictions relating to any Restricted Shares, the Company shall, as applicable, either remove the notations on any such Restricted Shares issued in book-entry form or deliver to the Grantee Director or the GranteeDirector's personal representative a stock certificate representing a number of shares of common stock, free of the restrictive legend described above, equal to the number of Restricted Shares with respect to which such restrictions have lapsed. If certificates representing such Restricted Shares shall have heretofore been delivered to the GranteeDirector, such certificates shall be returned to the Company, complete with any necessary signatures or instruments of transfer prior to the issuance by the Company of such unlegended Restricted Shares of common stock.

Appears in 1 contract

Samples: Director Restricted Stock Award Agreement (Iec Electronics Corp)

Delivery of Certificates Upon Vesting. Upon the lapse of restrictions relating to any Restricted Shares, the Company shall, as applicable, either remove the notations on any such Restricted Shares issued in book-entry form or deliver to the Grantee Director or the Grantee's Director’s personal representative a stock certificate representing a number of shares of common stock, free of the restrictive legend described above, equal to the number of Restricted Shares with respect to which such restrictions have lapsed. If certificates representing such Restricted Shares shall have heretofore been delivered to the GranteeDirector, such certificates shall be returned to the Company, complete with any necessary signatures or instruments of transfer prior to the issuance by the Company of such unlegended Restricted Shares shares of common stock.

Appears in 1 contract

Samples: Restricted Share Award Agreement (Iec Electronics Corp)

AutoNDA by SimpleDocs

Delivery of Certificates Upon Vesting. Upon the lapse of restrictions relating to any Restricted Shares, the Company shall, as applicable, either remove the notations on any such Restricted Shares issued in book-entry form or deliver to the Grantee or the Grantee's ’s personal representative a stock certificate representing a number of shares of common stock, free of the restrictive legend described above, equal to the number of Restricted Shares with respect to which such restrictions have lapsed. If certificates representing such Restricted Shares shall have heretofore been delivered to the Grantee, such certificates shall be returned to the Company, complete with any necessary signatures or instruments of transfer prior to the issuance by the Company of such unlegended Restricted Shares shares of common stock.

Appears in 1 contract

Samples: Restricted Share Award Agreement (Iec Electronics Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.