Common use of Distribution Following Termination of Restrictions Clause in Contracts

Distribution Following Termination of Restrictions. As soon as administratively feasible following the lapse of restrictions on the Restricted Stock in Section 4 of this Award, but no later than 30 days after such vesting occurs, and subject to the withholding referred to in Section 8, the Company will cause to be removed from the Account the restrictions or, if requested in writing to the Committee, cause to be issued and delivered to the Grantee (in certificate or electronic form) shares of Common Stock equal to the number of shares of Restricted Stock that have vested, less the amount of Common Stock withheld, if any (and provided that the Restricted Stock has not been forfeited prior to the date such restrictions lapsed).

Appears in 2 contracts

Samples: Employee Restricted Stock Award Agreement (Jones Energy, Inc.), Restricted Stock Award Agreement (Dril-Quip Inc)

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Distribution Following Termination of Restrictions. As soon as administratively feasible following the lapse of restrictions on the Restricted Stock in Section 4 of this Award, but no later than 30 days after such vesting occurs, and subject to the withholding referred to in Section 8, the Company will cause to be removed from the Account the restrictions or, if requested in writing to the Committee, cause to be issued and delivered to the Grantee (in certificate or electronic form) shares of Common Stock equal to the number of shares of Restricted Stock that have vested, less the amount of Common Stock withheld, if any vested (and provided that the Restricted Stock has not been forfeited prior to the date such restrictions lapsed).

Appears in 1 contract

Samples: 2004 Incentive Plan Of (Dril-Quip Inc)

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Distribution Following Termination of Restrictions. As soon as administratively feasible following the lapse of restrictions on the Restricted Stock in Section 4 of this Award, but no later than 30 days after such vesting occurs, and subject to the withholding referred to in Section 8, the Company will cause to be removed from the Account the restrictions or, if requested in writing to the CommitteeBoard, cause to be issued and delivered to the Grantee (in certificate or electronic form) shares of Common Stock equal to the number of shares of Restricted Stock that have vested, less the amount of Common Stock withheld, if any vested (and provided that the Restricted Stock has not been forfeited prior to the date such restrictions lapsed).

Appears in 1 contract

Samples: Director Restricted Stock Award Agreement (Jones Energy, Inc.)

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