Common use of Lapse of Restrictions; Restricted Period Clause in Contracts

Lapse of Restrictions; Restricted Period. Except as otherwise provided in the Recipient’s Employment Agreement with the Company, the restrictions set forth in Section 1 above shall lapse and a portion of the Restricted Shares shall become unrestricted and freely tradable as follows: (i) 25% of the Restricted Shares on February 23, 2011; (ii) 25% of the Restricted Shares on February 23, 2012; (iii) 25% of the Restricted Shares on February 23, 2013; and (iv) 25% of the Restricted Shares on February 23, 2014.

Appears in 1 contract

Samples: Restricted Stock Agreement (First Potomac Realty Trust)

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Lapse of Restrictions; Restricted Period. Except as otherwise provided in the Recipient’s Employment Agreement with the Company, the restrictions set forth in Section 1 above shall lapse and a portion of the Restricted Shares shall become unrestricted and freely tradable as follows: (i) 25% 18,750 of the Restricted Shares on February 23January 13, 20112018; (ii) 25% 18,750 of the Restricted Shares on February 23January 13, 20122019; (iii) 25% 18,750 of the Restricted Shares on February 23January 13, 20132020; and (iv) 25% 18,750 of the Restricted Shares on February 23January 13, 20142021.

Appears in 1 contract

Samples: Restricted Share Agreement (First Potomac Realty Trust)

Lapse of Restrictions; Restricted Period. Except as otherwise provided in the Recipient’s Employment Agreement with the Company, the restrictions set forth in Section 1 above shall lapse and a portion of the Restricted Shares shall become unrestricted and freely tradable as follows: (i) 25% 16,250 of the Restricted Shares on February 23January 13, 20112018; (ii) 25% 16,250 of the Restricted Shares on February 23January 13, 20122019; (iii) 25% 16,250 of the Restricted Shares on February 23January 13, 20132020; and (iv) 25% 16,250 of the Restricted Shares on February 23January 13, 20142021.

Appears in 1 contract

Samples: Restricted Share Agreement (First Potomac Realty Trust)

Lapse of Restrictions; Restricted Period. Except as otherwise provided in the Recipient’s Employment Agreement with the Company, the restrictions set forth in Section 1 above shall lapse and a portion of the Restricted Shares shall become unrestricted and freely tradable as follows: (i) 2520% of the Restricted Shares on February 2322, 20112012; (ii) 2520% of the Restricted Shares on February 2322, 20122013; (iii) 2520% of the Restricted Shares on February 2322, 20132014; and (iv) 2520% of the Restricted Shares on February 2322, 20142015; and (vi) 20% of the Restricted Shares on February 22, 2016.

Appears in 1 contract

Samples: Restricted Stock Agreement (First Potomac Realty Trust)

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Lapse of Restrictions; Restricted Period. Except as otherwise provided in the Recipient’s Employment Agreement with the Company, the restrictions set forth in Section 1 above shall lapse and a portion of the Restricted Shares shall become unrestricted and freely tradable as follows: (i) 25% 37,500 of the Restricted Shares on February 23January 13, 20112018; (ii) 25% 37,500 of the Restricted Shares on February 23January 13, 20122019; (iii) 25% 37,500 of the Restricted Shares on February 23January 13, 20132020; and (iv) 25% 37,500 of the Restricted Shares on February 23January 13, 20142021.

Appears in 1 contract

Samples: Restricted Share Agreement (First Potomac Realty Trust)

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