Common use of Holding Requirements Clause in Contracts

Holding Requirements. If at the time of the lapse date set forth in Section 6 of this Agreement for any Forfeiture Restrictions applicable with respect to any of the Performance Units hereunder the Executive is not then in compliance with the equity ownership guidelines for executive officers of the Company established from time to time by the Company’s Board of Directors or any committee thereof (the “Ownership Guidelines”), then 50% of the shares of Common Stock that are received in exchange for such Performance Units in accordance with Section 6 of this Agreement must be retained by the Executive until the earlier of the date the Executive (i) otherwise satisfies such then applicable Ownership Guidelines or (ii) is no longer subject to such guidelines.

Holding Requirements. If at the time of the lapse date set forth in Section 6 of this Agreement for any Forfeiture Restrictions applicable with respect to any of the Performance Deferred Stock Units hereunder the Executive is not then in compliance with the equity ownership guidelines for executive officers of the Company established from time to time by the Company’s Board of Directors or any committee thereof (the “Ownership Guidelines”), then 50% of the shares of Common Stock that are received in exchange for such Performance Deferred Stock Units in accordance with Section 6 of this Agreement must be retained by the Executive until the earlier of the date the Executive (i) otherwise satisfies such then applicable Ownership Guidelines or (ii) is no longer subject to such guidelines.