Common use of Restrictions; Forfeiture Clause in Contracts

Restrictions; Forfeiture. The RSUs are restricted in that they cannot be sold, transferred or otherwise alienated or hypothecated until Shares related to such RSUs are issued pursuant to Section 6 following the removal or expiration of the restrictions as contemplated in Section 5 of this Agreement and as described in the Notice of Grant. In the event you cease to serve as a member of the Board, other than as a result of death, Disability, or Retirement, the RSUs that are not vested on the date of such cessation of service shall be immediately forfeited unless the Committee, in its sole discretion, otherwise elects to accelerate the vesting of such RSUs.

Appears in 3 contracts

Samples: 2020 Long Term Incentive Plan Restricted Stock Unit Agreement (HF Sinclair Corp), Restricted Stock Unit Agreement (HollyFrontier Corp), 2020 Long Term Incentive Plan Restricted Stock Unit Agreement (HollyFrontier Corp)

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Restrictions; Forfeiture. The RSUs are restricted in that they canmay not be sold, transferred or otherwise alienated or hypothecated until Shares related to such RSUs are issued pursuant to Section 6 following the removal or expiration of the restrictions as contemplated in Section 5 of this Agreement and as described in the Notice of Grant. In the event you cease to serve as a member of the Board, other than as a result of death, Disability, or Retirement, the RSUs that are not vested on the date of such cessation of service shall be immediately forfeited unless the Committee, in its sole discretion, otherwise elects to accelerate the vesting of such RSUs.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (HollyFrontier Corp), Corporation Restricted Stock Unit Agreement (HollyFrontier Corp)

Restrictions; Forfeiture. The RSUs are restricted in that they cannot be sold, transferred or otherwise alienated or hypothecated until Shares related to such RSUs are issued pursuant to Section 6 following the removal or expiration of the restrictions as contemplated in Section 5 of this Agreement and as described in the Notice of Grant. In the event you cease to serve as a member of the Board, other than as a result of death, Disability, or Retirement, the RSUs that are not vested on shall be forfeited immediately following the date of such cessation of service shall be immediately forfeited service, unless the Committee, in its sole discretion, otherwise elects to accelerate the vesting of such RSUs.

Appears in 2 contracts

Samples: 2020 Long Term Incentive Plan Restricted Stock Unit Agreement (HF Sinclair Corp), 2020 Long Term Incentive Plan Restricted Stock Unit Agreement (HF Sinclair Corp)

Restrictions; Forfeiture. The RSUs are restricted in that they canmay not be sold, transferred or otherwise alienated or hypothecated until Shares related to such RSUs shares of Stock are issued pursuant to Section 6 following the removal or expiration of the restrictions as contemplated in Section 5 of this Agreement and as described in the Notice of Grant. In Unless otherwise set forth in the Notice of Grant, in the event you cease to serve as a member of the Board, other than as a result of death, Disability, or Retirement, the RSUs that are not vested on the date of such cessation of service shall be immediately forfeited unless the Committee, in its sole discretion, otherwise elects to accelerate the vesting of such RSUs.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Jagged Peak Energy Inc.)

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Restrictions; Forfeiture. The RSUs are restricted in that they canmay not be sold, transferred or otherwise alienated or hypothecated until Shares related to such RSUs shares of Stock are issued pursuant to Section 6 following the removal or expiration of the restrictions as contemplated in Section 5 of this Agreement and as described in the Notice of Grant. In Unless otherwise set forth in the Notice of Grant, in the event you cease to serve as a member of terminate employment with the Board, other than as a result of death, Disability, or RetirementCompany and its Affiliates, the RSUs that are not vested on the date of such cessation termination of service employment shall be immediately forfeited unless the Committee, in its sole discretion, otherwise elects to accelerate the vesting of such RSUs.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Jagged Peak Energy Inc.)

Restrictions; Forfeiture. The RSUs are restricted in that they canmay not be sold, transferred or otherwise alienated or hypothecated until Shares related to such RSUs are issued pursuant to Section 6 following the removal or expiration of the restrictions as contemplated in Section 5 of this Agreement and as described in the Notice of Grant. In the event you cease to serve as a member of the Board, other than as a result of death, Disability, or Retirement, the RSUs that are not vested on the date of such cessation of service shall be immediately forfeited unless the Committee, in its sole discretion, otherwise elects to accelerate the vesting of such RSUs.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Jagged Peak Energy Inc.)

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