Non-transferable Shares definition

Non-transferable Shares means those Shares that are subject to the transfer restrictions imposed under this Section 3 which restrictions have not expired or terminated. Non-transferable Shares may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered. The restrictions imposed under this Section shall apply to all shares of the Company’s common stock or other securities issued with respect to Non-transferable Shares hereunder in connection with any merger, reorganization, consolidation, recapitalization, stock dividend or other change in corporate structure affecting the common stock of the Company. The transfer restrictions imposed under this Section 3 will expire as to all of the Shares indicated on Page 1 on the earliest to occur of the following (the period prior to such expiration being referred to herein as the “Non-transferable Period”):
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Examples of Non-transferable Shares in a sentence

  • Non-transferable Shares may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered.

  • The restrictions imposed under this Section shall apply to all shares of the Company’s common stock or other securities issued with respect to Non-transferable Shares hereunder in connection with any merger, reorganization, consolidation, recapitalization, stock dividend or other change in corporate structure affecting the common stock of the Company.

  • The Non-transferable Vested Shares shall continue to remain in escrow, and be subject to the transfer restrictions contained in Section 3.4 until Director’s Termination of Directorship, at which time such Non-transferable Shares shall be released from any escrow and delivered to the Director or for the benefit of his or her account without the legend referenced in Section 3.8, and such shares shall be free of all restrictions hereunder (including the restrictions contained in Section 3.4).

  • The Non-transferable Vested Shares shall continue to remain in escrow, and be subject to the transfer restrictions contained in Section 3.4 until Director’s Termination of Service, at which time such Non-transferable Shares shall be released from any escrow and delivered to the Director or for the benefit of his or her account without the legend referenced in Section 3.8, and such shares shall be free of all restrictions hereunder (including the restrictions contained in Section 3.4).