Common use of Forfeiture Restriction Clause in Contracts

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Notice, in the event of Participant’s cessation of Service for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment in the form attached as Exhibit C to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service). Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.

Appears in 5 contracts

Samples: Restricted Stock Award Agreement (Image Entertainment Inc), Stock Option Agreement (Image Entertainment Inc), Restricted Stock Award Agreement (Image Entertainment Inc)

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Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of Participant’s cessation of Service for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment stock assignment in the form attached as Exhibit C B to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.

Appears in 5 contracts

Samples: Restricted Stock Award Agreement (American Assets Trust, L.P.), Restricted Stock Award Agreement (Excel Trust, Inc.), Restricted Stock Award Agreement (American Assets Trust, Inc.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of Participant’s cessation of Service for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment stock assignment in the form attached as Exhibit C B to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the CommitteeAdministrator, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (American Assets Trust, L.P.), Restricted Stock Award Agreement (American Assets Trust, L.P.), Restricted Stock Award Agreement (American Assets Trust, L.P.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Notice2(b) below, in the event of Participant’s cessation Termination of Service for any reason, including as a result of Participant’s death or Disability, all of the Shares which, from time to time, have not yet been released from the Forfeiture Restriction (together with and any Retained Distributions paid thereon pursuant to Section 1(c) and held by the Company, the “Unreleased Shares (as defined belowShares”) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares Shares, and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment in the form attached as Exhibit C to the Grant Notice shall be held by the Company in accordance with Section 2.4 3 until the Shares are forfeited as provided in this Section 2.12(a), until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the CommitteeAdministrator, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 2(a) from Participant to the Company.

Appears in 4 contracts

Samples: Restricted Stock Agreement (Gossamer Bio, Inc.), Restricted Stock Agreement (Gossamer Bio, Inc.), Restricted Stock Agreement (Phathom Pharmaceuticals, Inc.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of Participant’s cessation Termination of Service for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”), except as otherwise provided in that certain Employment Agreement between the Participant and CoreSite, LLC, dated as of August 1, 2010 (including Section 4(d) thereof), as such agreement may be amended or replaced from time to time (the “Employment Agreement”), or any other written agreement between the Company, the Partnership and the Participant. Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment stock assignment in the form attached as Exhibit C B to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (CoreSite Realty Corp), Restricted Stock Award Agreement (CoreSite Realty Corp)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Notice3.2 below, in the event of Participant’s cessation of Service Termination for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined in Section 3.2(d) below) shall thereupon be forfeited immediately for no consideration and without any further action by the Company (the “Forfeiture Restriction”), except as otherwise provided in a written agreement between Participant and the Company. Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment in the form attached as Exhibit C to the Grant Notice shall be held by the Company in accordance with Section 2.4 3.3 until the Shares are forfeited as provided in this Section 2.13.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, Restriction as provided in Section 3.2 or until such time as this Agreement is no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, Company (or such other person designated by the Committee), to transfer the any Unreleased Shares which have been that are forfeited pursuant to this Section 2.1 3.1 from Participant to the Company.

Appears in 2 contracts

Samples: Restricted Stock Agreement (Essent Group Ltd.), Restricted Stock Agreement (Essent Group Ltd.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Notice2(b) below, in the event of Participant’s cessation Termination of Service for any reason, including as a result of Participant’s death or Disability, all of the Shares which, from time to time, have not yet been released from the Forfeiture Restriction (together with and any Distributions paid thereon pursuant to Section 1(c) and held by the Company, the “Unreleased Shares (as defined belowShares”) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment in the form attached as Exhibit C to the Grant Notice shall be held by the Company in accordance with Section 2.4 3 until the Shares are forfeited as provided in this Section 2.12(a), until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the CommitteeAdministrator, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 2(a) from Participant to the Company.

Appears in 2 contracts

Samples: Restricted Stock Agreement (Airgain Inc), Restricted Stock Agreement (Airgain Inc)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to Section 17(b) of the Grant NoticePlan, in the event of Participant’s cessation of Service employment with or service to the Company for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment stock assignment in the form attached as Exhibit C B to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Innovative Industrial Properties Inc), Restricted Stock Award Agreement (Innovative Industrial Properties Inc)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of Participant’s cessation of Service for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment stock assignment in the form attached as Exhibit C B to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the CommitteeAdministrator, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.. Executive Version (12-18)

Appears in 1 contract

Samples: Restricted Stock Award Agreement (American Assets Trust, L.P.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of ParticipantHolder’s cessation Termination of Service for any reason, including other than as a result of ParticipantXxxxxx’s death or Disability, all of the Shares which, from time to time, have not yet been released from the Forfeiture Restriction (the “Unreleased Shares (as defined belowShares”) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by ParticipantHolder. The Unreleased Shares and Participant’s executed Stock Assignment in the form attached as Exhibit C to the Grant Notice shall be held by the Company in accordance with Section 2.4 2.3 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant Xxxxxx hereby authorizes and directs the Secretary of the Company, or such other person designated by the CommitteeAdministrator, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant Holder to the Company. The Shares shall vest immediately upon Termination of Service due to Holder’s death or Disability, so long as the Holder (A) received this Award in his or her capacity as an Employee or Consultant, and (B) was in good standing as of the date of Termination of Service and was employed by or providing services to the Company or an Affiliate for at least one year prior to the date of the Termination of Service.

Appears in 1 contract

Samples: Restricted Stock Agreement (Pricesmart Inc)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of Participant’s cessation Termination of Service for any reason, including as a result of Participant’s death or Disabilitydisability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”), except as otherwise provided in a written agreement between the Participant and the Company. Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment in the form attached as Exhibit C to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (UCI International, Inc.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Notice3.2 below, in the event of Participant’s cessation of Service Termination for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately for no consideration and without any further action by the Company (the “Forfeiture Restriction”), except as otherwise provided in a written agreement between Participant and the Company. Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment in the form attached as Exhibit C to the Grant Notice shall be held by the Company in accordance with Section 2.4 3.3 until the Shares are forfeited as provided in this Section 2.13.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, Restriction as provided in Section 3.2 or until such time as this Agreement is no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, Company (or such other person designated by the Committee), to transfer the any Unreleased Shares which have been that are forfeited pursuant to this Section 2.1 3.1 from Participant to the Company.

Appears in 1 contract

Samples: Restricted Stock Agreement (Essent Group Ltd.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of Participant’s cessation Termination of Service for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”), except as otherwise provided in a written agreement between the Participant and the Company and the Partnership. Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment stock assignment in the form attached as Exhibit C B to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (CoreSite Realty Corp)

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Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of Participant’s cessation of Service for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment stock assignment in the form attached as Exhibit C B to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the CommitteeAdministrator, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.. Executive Version (12-23)

Appears in 1 contract

Samples: Restricted Stock Award Agreement (American Assets Trust, L.P.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Notice3.2 below, in the event of Participant’s cessation Termination of Service, but excluding a Termination of Service for any reason, including as a result of Participant’s death or Disabilitydisability and excluding a Qualifying Termination, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s any stock assignment executed Stock Assignment in the form attached as Exhibit C to the Grant Notice by Participant shall be held by the Company in accordance with Section 2.4 3.4 until the Shares are forfeited as provided in this Section 2.13.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 3.1 from Participant to the Company.

Appears in 1 contract

Samples: And Restricted Stock Award Agreement (SeaSpine Holdings Corp)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Notice3.2 below, in the event of Participant’s cessation Termination of Service for any reason, including as a result of Participant’s death or Disabilitydisability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s any stock assignment executed Stock Assignment in the form attached as Exhibit C to the Grant Notice by Participant shall be held by the Company in accordance with Section 2.4 3.4 until the Shares are forfeited as provided in this Section 2.13.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 3.1 from Participant to the Company.

Appears in 1 contract

Samples: Notice and Restricted Stock Award Agreement (SeaSpine Holdings Corp)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Notice3.2 below, in the event of ParticipantHolder’s cessation Termination of Service for any reason, including as a result of ParticipantHolder’s death or Disabilitydisability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by ParticipantXxxxxx. The Unreleased Shares and Participant’s any stock assignment executed Stock Assignment in the form attached as Exhibit C to the Grant Notice by Holder shall be held by the Company in accordance with Section 2.4 3.4 until the Shares are forfeited as provided in this Section 2.13.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant Xxxxxx hereby authorizes and directs the Secretary of the Company, or such other person designated by the CommitteeAdministrator, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 3.1 from Participant Holder to the Company.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (ChemoCentryx, Inc.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of Participant’s cessation Termination of Service for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s any stock assignment executed Stock Assignment in the form attached as Exhibit C to the Grant Notice by Participant shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Presidio Property Trust, Inc.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of Participant’s cessation of Service for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment stock assignment in the form attached as Exhibit C B to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Excel Trust, Inc.)

Forfeiture Restriction. Subject to the provisions of Section 2.2 below and Exhibit B to the Grant Noticebelow, in the event of Participant’s cessation of Service employment with or service to the Company for any reason, including as a result of Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon be forfeited immediately and without any further action by the Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant. The Unreleased Shares and Participant’s executed Stock Assignment stock assignment in the form attached as Exhibit C B to the Grant Notice shall be held by the Company in accordance with Section 2.4 until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this Agreement no longer is in effect (e.g., upon Termination of Service)effect. Participant hereby authorizes and directs the Secretary of the Company, or such other person designated by the Committee, to transfer the Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the Company.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (BioMed Realty Trust Inc)

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