Common use of Shares Subject to Holding Period Clause in Contracts

Shares Subject to Holding Period. Upon exercise of the Option, 50% of the shares of Stock acquired by the Participant (net of shares used to satisfy tax withholding obligations and/or the Option Exercise Price) shall be subject to a holding period during which the Participant may not transfer, sell or otherwise dispose of such shares of Stock, lasting until the earlier of (i) the fifth anniversary of the Grant Date or (ii) 6 months after the Participant’s termination of Service. Notwithstanding the foregoing, if the Participant terminates his or her Service upon his or her death, disability, Qualified Retirement or in connection with a Sale Event (each as described in Section 6) or if the Participant’s Service is terminated as described in Section 6(b) or Section 6(c), then the holding period shall expire upon such termination of Service. The Company reserves the right to enforce the holding period by any reasonable means that it deems advisable.

Shares Subject to Holding Period. Upon exercise of the Option, 50% of the shares of Stock acquired by the Participant (net of shares used to satisfy tax withholding obligations and/or the Option Exercise Price) shall be subject to a holding period during which the Participant may not transfer, sell or otherwise dispose of such shares of Stock, lasting until the earlier of (i) the fifth anniversary of the Grant Date or (ii) 6 months after the Participant’s termination of Service. Notwithstanding the foregoing, if the Participant terminates his or her Service upon his or her death, disability, Qualified Retirement or in connection with a Sale Event Change in Control (each as described in Section 6) or if the Participant’s Service is terminated as described in Section 6(b) or Section 6(c), then the holding period shall expire upon such termination of Service. The Company reserves the right to enforce the holding period by any reasonable means that it deems advisable.