Common use of Escrow of Shares Clause in Contracts

Escrow of Shares. The Share Certificate shall be held by the Company until the earlier of the Lapse Date or the termination of the Awardee’s employment with the Company. If the Restricted Shares are forfeited to the Company under §2, above, then the Company shall cause the Restricted Shares to be transferred to the Company. If the Restricted Shares are not forfeited to the Company, then the Company shall deliver the Shares to the Awardee.

Appears in 20 contracts

Samples: Restricted Stock Agreement (State Auto Financial CORP), Restricted Stock Agreement (State Auto Financial CORP), Restricted Stock Agreement (State Auto Financial CORP)

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