Cancellation of Restricted Shares Sample Clauses

Cancellation of Restricted Shares. If the Company shall make available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Restricted Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time the person from whom such shares are to be repurchased shall no longer have any rights as a holder of such shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such shares shall be deemed purchased in accordance with the applicable provisions hereof, and the Company shall be deemed the owner and holder of such shares, whether or not the certificates therefor have been delivered as required by this Agreement.
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Cancellation of Restricted Shares. In addition to the terms and conditions set forth in the Plan, upon a termination of the Employment Agreement by the Company for Cause or the resignation of employment by Grantee, any unvested Restricted Shares shall automatically be cancelled without any further action on behalf of the Company or Grantee.
Cancellation of Restricted Shares. Captain’s Crew LLC will cancel the 18,000,000 (pre 4.04 for 1 split) shares of common stock it owns so that Realco will have 990,000 pre 4.04 for 1 split shares (3,999,600 post forward split shares) of common stock issued and outstanding at the Closing, without giving effect to the shares of common stock or warrants being issued in the PPO.
Cancellation of Restricted Shares. If any or all of the Restricted Shares are forfeited in accordance with the terms hereof, then from and after such time as any such Restricted Shares are forfeited, the holder of those Restricted Shares shall no longer have any rights as a holder of such shares, and such Restricted Shares shall be deemed cancelled.
Cancellation of Restricted Shares. (a) To the extent that, on or before the fifth anniversary of the Closing Date, the First Tier Vesting Event has not occurred with respect to a Restricted Unit pursuant to the Amended and Restated Company LLC Agreement and as a result any share of Series C-1 Common Stock has not converted in accordance with Section 5 hereof, then immediately and without any further action under this letter agreement, on the date that is the fifth anniversary of the Closing Date, 620,625 shares of Series C-1 Common Stock shall automatically be forfeited to Pubco and canceled for no consideration therefor and shall cease to be outstanding and any dividend declared in respect of such shares of Series C-1 Common Stock shall also be forfeited to Pubco for no consideration therefor.
Cancellation of Restricted Shares. The Restricted Shares are hereby cancelled.
Cancellation of Restricted Shares. In the event that the Restricted Shares do not become Unrestricted Shares pursuant to Sections 1.1(b), 1.1(c), or 1.1(d), the Restricted Shares shall be automatically cancelled by Parent for no consideration, without the requirement for any further action on the part of the Holder, Parent or any other Person. The Holder agrees they shall have no rights to such cancelled Restricted Shares.
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Cancellation of Restricted Shares. As promptly as practicable after the date hereof and in any event prior to the Effective Time, the Company shall cancel the Cancelled Restricted Shares for no consideration.

Related to Cancellation of Restricted Shares

  • Issuance of Restricted Shares (a) The Restricted Shares are issued to the Recipient, effective as of the Grant Date (as set forth on the cover page of this Agreement), in consideration of employment services rendered and to be rendered by the Recipient to the Company.

  • Forfeiture of Restricted Shares Subject to Section 4(b), if your Service to the Company or any Affiliate terminates before all of the Restricted Shares have vested, or if you attempt to transfer Restricted Shares in a manner contrary to the transfer restrictions, you will immediately forfeit all unvested Restricted Shares. Any Restricted Shares that are forfeited shall be returned to the Company for cancellation.

  • Vesting of Restricted Shares The Restricted Shares are subject to forfeiture to the Company until they become nonforfeitable in accordance with this Section 2. While subject to forfeiture, the Restricted Shares may not be sold, pledged, assigned, otherwise encumbered or transferred in any manner, whether voluntarily or involuntarily by the operation of law.

  • Grant of Restricted Shares (a) The Company hereby grants to the Grantee an award (the “Award”) of shares of Common Stock of the Company (the “Shares” or the “Restricted Shares”) on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan.

  • Forfeiture of Restricted Stock Upon the termination of your employment by you, the Company or its Subsidiaries for any reason other than those set forth in Section 4 hereof prior to such vesting, in addition to the circumstance described in Section 9(a) hereof, any and all Shares of Restricted Stock which have not become vested in accordance with Section 3, 4 or 5 hereof shall be forfeited and shall revert to the Company.

  • Vesting of Restricted Stock The restrictions and conditions in Paragraph 2 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date.

  • Issuance of Restricted Stock On the date hereof the Company issues to the Participant the Restricted Stock subject to the Restrictions and other conditions set forth in this Award Agreement. The Company shall cause the Restricted Stock to be issued in the name of the Participant or held in book entry form, but if a stock certificate is issued it shall be delivered to and held in custody by the Company until the Restrictions lapse or such Restricted Stock is forfeited. As a further condition to the Company’s obligations under this Award Agreement, the Participant’s spouse, if any, shall execute and deliver to the Company the Consent of Spouse attached hereto as Exhibit A.

  • Delivery of Restricted Stock 7.1 Except as otherwise provided in Section 7.2 hereof, evidence of the book entry of Shares or, if requested by you prior to such lapse of restrictions, a stock certificate with respect to the Shares of Performance Based Restricted Stock for which the restrictions have lapsed pursuant to Section 3, 4 or 5 hereof, shall be delivered to you as soon as practicable following the date on which the restrictions on such Shares of Performance Based Restricted Stock have lapsed, free of all restrictions hereunder.

  • Grant of Restricted Share Units The Company hereby grants to the Participant [ ].00 restricted share units (the “RSUs”), subject to all of the terms and conditions of this RSU Award Agreement and the Plan.

  • Forfeiture of Restricted Stock Units Except as provided in Section 3, if the Employee terminates employment prior to the satisfaction of the vesting requirements set forth in Section 2(a) above, any unvested Restricted Stock Units shall immediately be forfeited. The period of time during which the Restricted Stock Units covered by this Award are forfeitable is referred to as the “Restricted Period.”

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