Common use of Lifting of Restrictions Clause in Contracts

Lifting of Restrictions. The restrictions applicable to the Stock Unit Awards held by the Grantee at the end of the TSR and XXX Measuring Periods (after the completion of the adjustments in the number of Stock Unit Awards by reason of the computations called for by the (A) the Shareholder Value Performance Schedule, and (B) the XXX metrics) (January 1, 2008 through December 31, 2010 is the “Performance Period”) shall be lifted in whole as of December 31, 2011; provided, however, that except as provided in the Plan, which directs, under certain conditions, that the restrictions shall be lifted earlier: (a) the restrictions shall be lifted on December 31, 2011 only if the Grantee is still employed by a Participating Company on that date, and, subject to the terms of this Agreement and the Plan, (b) if the Grantee ceases to be employed by a Participating Company before the restrictions lapse on any Stock Unit Awards held by him or her, the Stock Unit Awards still subject to restrictions shall be immediately forfeited.

Appears in 1 contract

Samples: Vectren Corp

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Lifting of Restrictions. The restrictions applicable to the Stock Unit Awards held by the Grantee at the end of the TSR and XXX Measuring Periods (after the completion of the adjustments in the number of Stock Unit Awards by reason of the computations called for by the (A) the Shareholder Value TSR Performance Schedule, and (B) the XXX metrics) (January 1, 2008 2013 through December 31, 2010 2015 is the “Performance Period”) shall be lifted in whole as of December 31, 20112016; provided, however, that except as provided in the Plan, which directs, under certain conditions, that the restrictions shall be lifted earlier: (a) the restrictions shall be lifted on December 31, 2011 2016 only if the Grantee is still employed by a Participating Company on that date, and, subject to the terms of this Agreement and the Plan, (b) if the Grantee ceases to be employed by a Participating Company before the restrictions lapse on any Stock Unit Awards held by him or her, the Stock Unit Awards still subject to restrictions shall be immediately forfeited.

Appears in 1 contract

Samples: Risk Compensation Plan (Vectren Utility Holdings Inc)

Lifting of Restrictions. The restrictions applicable to the Stock Unit Awards held by the Grantee at the end of the TSR and XXX Measuring Periods (after the completion of the adjustments in the number of Stock Unit Awards by reason of the computations called for by the (A) the Shareholder Value TSR Performance Schedule, and (B) the XXX metrics) (January 1, 2008 2014 through December 31, 2010 2016 is the “Performance Period”) shall be lifted in whole as of December 31, 20112017; provided, however, that except as provided in the Plan, which directs, under certain conditions, that the restrictions shall be lifted earlier: (a) the restrictions shall be lifted on December 31, 2011 2017 only if the Grantee is still employed by a Participating Company on that date, and, subject to the terms of this Agreement and the Plan, (b) if the Grantee ceases to be employed by a Participating Company before the restrictions lapse on any Stock Unit Awards held by him or her, the Stock Unit Awards still subject to restrictions shall be immediately forfeited.

Appears in 1 contract

Samples: Risk Compensation Plan (Vectren Corp)

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Lifting of Restrictions. The restrictions applicable to the Stock Unit Awards held by the Grantee at the end of the TSR and XXX Measuring Periods (after the completion of the adjustments in the number of Stock Unit Awards by reason of the computations called for by the (A) the Shareholder Value TSR Performance Schedule, and (B) the XXX metrics) (January 1, 2008 2009 through December 31, 2010 2011 is the “Performance Period”) shall be lifted in whole as of December 31, 20112012; provided, however, that except as provided in the Plan, which directs, under certain conditions, that the restrictions shall be lifted earlier: (a) the restrictions shall be lifted on December 31, 2011 2012 only if the Grantee is still employed by a Participating Company on that date, and, subject to the terms of this Agreement and the Plan, (b) if the Grantee ceases to be employed by a Participating Company before the restrictions lapse on any Stock Unit Awards held by him or her, the Stock Unit Awards still subject to restrictions shall be immediately forfeited.

Appears in 1 contract

Samples: Award Agreement (Vectren Utility Holdings Inc)

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