Common use of Waiver of Restrictions Clause in Contracts

Waiver of Restrictions. The Option Committee, in its sole discretion, may waive the repurchase or forfeiture period and any other terms, conditions, or restrictions on any Restricted Stock or Restricted Stock Units under such circumstances and subject to such terms and conditions as the Option Committee shall deem appropriate; provided, however, that the Option Committee may not adjust performance goals for any Restricted Stock or Restricted Stock Units intended to be exempt under Section 162(m) of the Code for the year in which the Restricted Stock or Restricted Stock Unit is settled in such a manner as would increase the amount of compensation otherwise payable to a Participant.

Appears in 4 contracts

Samples: 2007 Stock Incentive Plan (American Enterprise Development Corp), 2006 Stock Incentive Plan (Rancher Energy Corp.), Equity Incentive Plan (Zulu Energy Corp.)

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Waiver of Restrictions. The Option Notwithstanding any other provisions of the Plan, the Committee, in its sole discretion, may waive the repurchase or forfeiture period and any other terms, conditions, conditions or restrictions on any Restricted Stock or Restricted Stock Units Unit under such circumstances and subject to such terms and conditions as the Option Committee shall deem appropriate; provided, however, that the Option Committee may not adjust performance goals for any Restricted Stock or Restricted Stock Units Unit intended to be exempt under Section 162(m) of qualify for the Code Performance Based Exception for the year in which the Restricted Stock or Restricted Stock Unit is settled in such a manner as would increase the amount of compensation otherwise payable to a Participant.

Appears in 2 contracts

Samples: Restricted Stock Agreement (LSB Industries Inc), Restricted Stock Agreement (LSB Industries Inc)

Waiver of Restrictions. The Option Committee, in its sole discretion, may waive the repurchase or forfeiture period and any other terms, conditions, or restrictions on any Restricted Stock or Restricted Stock Units Unit Award under such circumstances and subject to such terms and conditions as the Option Committee shall deem appropriate; provided, however, that the Option Committee may not adjust performance goals for any Restricted Stock or Restricted Stock Units intended to be exempt under Section 162(m) of the Code for the year in which the Restricted Stock or Restricted Stock Unit is settled in such a manner as would increase the amount of compensation otherwise payable to a Participant.

Appears in 1 contract

Samples: Equity Incentive Plan (Zulu Energy Corp.)

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Waiver of Restrictions. The Option Compensation Committee, in its sole discretion, may waive the repurchase or forfeiture period and any other terms, conditions, or restrictions on any Restricted Stock or Restricted Stock Units under such circumstances and subject to such terms and conditions as the Option Compensation Committee shall deem appropriate; provided, however, that the Option Compensation Committee may not adjust performance goals for any Restricted Stock or Restricted Stock Units intended to be exempt under Section 162(m) of the Code for the year in which the Restricted Stock or Restricted Stock Unit is settled in such a manner as would increase the amount of compensation otherwise payable to a Participant.

Appears in 1 contract

Samples: Pyr Energy Corp

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