Common use of Holding Requirements Clause in Contracts

Holding Requirements. The Employee must retain fifty percent (50%) of the net shares of Common Stock acquired in connection with the PSs (net of withholding tax and exercise fees) until ownership guidelines are met under Paragraph 4 hereof. Such shares shall be held in the Employee’s Xxxxx Xxxxxx account or at another account acceptable to the Company. If employment terminates due to the death of the Employee, such holding requirements shall cease at the date of death. If the Employee terminates for any other reason, the holding requirement will be applicable for up to a one year period following termination.

Holding Requirements. The Employee must retain fifty percent (50%) of the net shares of Common Stock acquired in connection with the PSs (net of withholding tax and exercise any applicable fees) until ownership guidelines are met under Paragraph 4 hereof. Such shares shall be held in the Employee’s Xxxxxx Xxxxxxx Xxxxx Xxxxxx account or at another account acceptable to the Company. If employment terminates due to the death of the Employee, such holding requirements shall cease at the date of death. If the Employee terminates for any other reason, the holding requirement will be applicable for up to a one year period following termination.