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

Lapse of Restrictions; Restricted Period. The restrictions set forth above shall lapse and the Restricted Stock shall become freely transferable (provided, that such transfer is otherwise in accordance with federal and state securities laws) and non-forfeitable as follows: as to twenty five percent (25%) of the Restricted Stock on [______________]; as to twenty five percent (25%) of the Restricted Stock on [______________]; as to twenty five percent (25%) of the Restricted Stock on [______________]; and as to twenty five percent (25%) of the Restricted Stock on [______________] (the “Restricted Period”). In order to enforce the foregoing restrictions, the Board may (i) require that the certificates representing the shares of Restricted Stock remain in the physical custody of the Company or in book entry until any or all of such restrictions expire or have been removed, and (ii) may cause a legend or legends to be placed on the certificates which make appropriate reference to the restrictions imposed under the Plan.

Lapse of Restrictions; Restricted Period. The restrictions set forth above shall lapse and the Restricted Stock shall become freely transferable (provided, that such transfer is otherwise in accordance with federal and state securities laws) and non-forfeitable as follows: as to twenty five percent one-third (25%1/3) of the Restricted Stock on [______________]; as to twenty five percent one-third (25%1/3) of the Restricted Stock on [______________]; and as to twenty five percent one-third (25%1/3) of the Restricted Stock on [______________]; and as to twenty five percent (25%) of the Restricted Stock on [______________] (the “Restricted Period”). In order to enforce the foregoing restrictions, the Board may (i) require that the certificates representing the shares of Restricted Stock remain in the physical custody of the Company or in book entry until any or all of such restrictions expire or have been removed, and (ii) may cause a legend or legends to be placed on the certificates which make appropriate reference to the restrictions imposed under the Plan.

Lapse of Restrictions; Restricted Period. The restrictions set forth above shall lapse and the Restricted Stock shall become freely finely transferable (provided, that such transfer is otherwise in accordance with federal and state securities laws) and non-forfeitable as follows: as to twenty five percent (25%) of the Restricted Stock on [______________]; as to twenty five percent (25%) of the Restricted Stock on [______________]; as to twenty five percent (25%) of the Restricted Stock on [______________]; and as to twenty five percent (25%) of the Restricted Stock on [______________] (the “Restricted Period”). In order to enforce the foregoing restrictions, the Board may (i) require that the certificates representing the shares of Restricted Stock remain in the physical custody of the Company or in book entry until any or all of such restrictions expire or have been removed, and (ii) may cause a legend or legends to be placed on the certificates which make appropriate reference to the restrictions imposed under the Plan.

Lapse of Restrictions; Restricted Period. The restrictions set forth above shall lapse and the Restricted Stock shall become freely transferable (provided, that such transfer is otherwise in accordance with federal and state securities laws) and non-forfeitable as follows: :as to twenty five percent (25%) of the Restricted Stock on [______________]; as to twenty five percent (25%) of the Restricted Stock on [______________]; as to twenty five percent (25%) of the Restricted Stock on [______________]; and as to twenty five percent (25%) of the Restricted Stock on [______________] (the “Restricted Period”). In order to enforce the foregoing restrictions, the Board may (i) require that the certificates representing the shares of Restricted Stock remain in the physical custody of the Company or in book entry until any or all of such restrictions expire or have been removed, and (ii) may cause a legend or legends to be placed on the certificates which make appropriate reference to the restrictions imposed under the Plan.