Common use of Forfeiture Restrictions Clause in Contracts

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture Restrictions, and in the event of termination of the Grantee’s service relationship with the Company (as provided in Section 5) for any reason other than as provided in Section 2(b), the Grantee shall, for no consideration, forfeit to the Company all Restricted Shares then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 2 contracts

Samples: Grantee Restricted Stock Agreement (Cyberonics Inc), Restricted Stock Agreement (Cyberonics Inc)

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Forfeiture Restrictions. The Restricted Shares Units may not be sold, assigned, pledged, exchanged, hypothecated hypothecated, or otherwise transferred, encumbered encumbered, or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as defined below), and in the event of the termination of the GranteeEmployee’s service relationship employment with the Company (as provided in Section 5) Entities for any reason other than or no reason whatsoever, except as provided in Section 2(b)below, the Grantee shallEmployee shall automatically upon such termination, for no consideration, forfeit to the Company all of the Restricted Shares Units to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares Units to the Company upon the Grantee’s termination of service employment are herein referred to herein as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 2 contracts

Samples: Employee Restricted Unit Agreement (Compressco Partners, L.P.), Restricted Unit Agreement (Compressco Partners, L.P.)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the Grantee’s service relationship Employee's employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided in Section 2(b)the last two sentences of subparagraph (b) of this Paragraph 2, the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “"Forfeiture Restrictions." The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 2 contracts

Samples: Employment Agreement (Halliburton Co), Executive Employment Agreement (Halliburton Co)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the Grantee’s service relationship Employee's employment with the Company (as provided in Section 5) for any a reason other than as provided those set forth in Section 2(b)the first sentence of subparagraph (c) of this Paragraph 2, the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 2 contracts

Samples: Restricted Stock Agreement (Sequiam Corp), Restricted Stock Agreement (Sequiam Corp)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the Grantee’s service relationship Employee's employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided those listed in Section 2(bparagraph 2(b)(vi), the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 2 contracts

Samples: Restricted Stock Agreement (FBL Financial Group Inc), Restricted Stock Agreement (FBL Financial Group Inc)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined). Except as provided in subsection (b) of this Section 2, and in the event of termination of the GranteeEmployee’s service relationship employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided in Section 2(b)reason, the Grantee Employee shall, for no consideration, immediately forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 2 contracts

Samples: Restricted Stock Agreement (Christopher & Banks Corp), Restricted Stock Agreement (Christopher & Banks Corp)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined). Except as provided in subsection (b) of this Section 2, and in the event of termination of the GranteeEmployee’s service relationship employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided in Section 2(b)reason, the Grantee Employee shall, for no consideration, immediately forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined). The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” ”. The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 2 contracts

Samples: Time Based Restricted Stock Agreement (Christopher & Banks Corp), Employment Agreement (Christopher & Banks Corp)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the Grantee’s service relationship Employee's employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided those listed in Section 2(bparagraph 2(b)(ix), the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 2 contracts

Samples: Restricted Stock Agreement (FBL Financial Group Inc), Restricted Stock Agreement (FBL Financial Group Inc)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined). Except as provided in subsection (b) of this Section 2, and in the event of termination of the GranteeEmployee’s service relationship employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided in Section 2(b)reason, the Grantee Employee shall, for no consideration, immediately forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.. 1 Time-Based Restricted Stock Agreement (July 9, 2018) (b) Lapse of Forfeiture Restrictions. (i)

Appears in 1 contract

Samples: Restricted Stock Agreement

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined). Except as provided in subsection (b) of this Section 2, and in the event of termination of the GranteeEmployee’s service relationship employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided in Section 2(b)reason, the Grantee Employee shall, for no consideration, immediately forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.. Time-Based Restricted Stock Agreement (July 9, 2018)

Appears in 1 contract

Samples: Restricted Stock Agreement (Christopher & Banks Corp)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the Grantee’s service relationship Employee's employment with the Company (as provided in Section 5) for any a reason other than as provided those set forth in Section 2(b)the first sentence of subparagraph (c) of this Paragraph 2, the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “"Forfeiture Restrictions." The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 1 contract

Samples: Executive Employment Agreement (Halliburton Co)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture Restrictions, and in Restrictions (as hereinafter defined). In the event of termination of that Executive resigns from his employment with Company or the GranteeEmployment Agreement and Executive’s service relationship employment with the Company are terminated for Cause (as provided defined in Section 5) for any reason other than as provided in Section 2(b4.2 of the Employment Agreement), the Grantee Executive shall, for no consideration, automatically forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit requirement of forfeiture and surrender the to Company of Restricted Shares as to which applicable forfeiture lapse dates have not occurred on or as of the date of Executive’s resignation of his employment with Company upon the Grantee’s or a termination of service his employment with Company for Cause are herein referred to herein as the “"Forfeiture Restrictions." The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of the Restricted Shares.

Appears in 1 contract

Samples: Restricted Stock Agreement (Innovative Payment Solutions, Inc.)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined). Except as provided in subsection (b) of this Section 2, and in the event of termination of the GranteeEmployee’s service relationship employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided in Section 2(b)reason, the Grantee Employee shall, for no consideration, immediately forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.. Time-Based Restricted Stock Agreement ([Date])

Appears in 1 contract

Samples: Restricted Stock Agreement (Christopher & Banks Corp)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the Grantee’s service relationship Employee's employment with the Company (as provided in Section 5) for any a reason other than as provided those set forth in Section 2(b)the first sentence of subparagraph (c) of this Paragraph 2, the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares."Forfeiture

Appears in 1 contract

Samples: Executive Employment Agreement

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Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the Grantee’s service relationship Employee's employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided those listed in Section 2(bparagraph 2(b)(vii), the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 1 contract

Samples: Restricted Stock Agreement (FBL Financial Group Inc)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the GranteeEmployee’s service relationship employment with the Company (as provided in Section 5) for any reason other than as provided in Section 2(bdeath or disability (within the meaning of section 22(e)(3) of the Code), the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 1 contract

Samples: Restricted Stock Agreement (Particle Drilling Technologies Inc/Nv)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of Director’s membership on the Grantee’s service relationship with the Company (as provided in Section 5) Board for any reason other than as provided in Section 2(bdeath or disability (within the meaning of section 22(e)(3) of the Code), the Grantee Director shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service Director’s membership on the Board are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 1 contract

Samples: Restricted Stock Agreement (Particle Drilling Technologies Inc/Nv)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the Grantee’s service relationship Employee's employment with the Company (as provided in Section 5) for any reason other than as provided in Section 2(b)death, Disability, Involuntary Termination, or Retirement, the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the "Forfeiture Restrictions." The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 1 contract

Samples: Restricted Stock Agreement (Southwest Bancorp of Texas Inc)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the Grantee’s service relationship Employee's employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided those listed in Section 2(bparagraph 2(b)(vii)(A)-(C), the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 1 contract

Samples: Restricted Stock Agreement (FBL Financial Group Inc)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined), and in the event of termination of the GranteeEmployee’s service relationship employment with the Company (as provided in Section 5) for any reason other than death or Disability (as provided in Section 2(bhereinafter defined), the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions For purposes of this Agreement, the following capitalized words and terms shall be binding upon and enforceable against any transferee of Restricted Shares.have the meanings indicated below:

Appears in 1 contract

Samples: Restricted Stock Agreement (Group 1 Automotive Inc)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture RestrictionsRestrictions (as hereinafter defined). Except as provided in subsection (b) of this Section 2, and in the event of termination of the GranteeEmployee’s service relationship employment with the Company (as provided in Section 5) or employing subsidiary for any reason other than as provided in Section 2(b)reason, the Grantee Employee shall, for no consideration, immediately forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 1 contract

Samples: Restricted Stock Agreement (Christopher & Banks Corp)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture Restrictions, and in Restrictions (as hereinafter defined). In the event of termination of the Grantee’s service relationship Employee's employment with the Company (prior to the lapse of the Forfeiture Restrictions as provided in Section 5(b) for any reason other than as provided in Section 2(b)below, the Grantee Employee shall, for no consideration, forfeit to the Company all Restricted Shares to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon the Grantee’s termination of service employment are herein referred to as the “"Forfeiture Restrictions." The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 1 contract

Samples: Restricted Stock Agreement (K N Energy Inc)

Forfeiture Restrictions. The Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture Restrictions, and in the event of termination of the Grantee’s service relationship with the Company (as provided in Section 5) for any reason other than as provided in Section 2(b), the Grantee shall, for no consideration, forfeit to the Company all Restricted Shares then subject to the Forfeiture Restrictions. The prohibition against transfer and the Grantee’s obligation to forfeit and surrender the Restricted Shares to the Company upon either the Grantee’s termination of service or the failure to meet the Performance Objectives, as set forth below, are herein referred to as the “Forfeiture Restrictions.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Shares.

Appears in 1 contract

Samples: Performance Restricted Stock Agreement (Cyberonics Inc)

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