Miscellaneous Clause Example from Business Contracts

Miscellaneous. 11.1 No Restricted Stock Award will confer upon the Participant any rights as a stockholder of the Company prior to the date on which the individual fulfills all conditions for receipt of such rights. 11.2 This Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the Company and the Participant. 11.3 Restricted Stock Awards are not transferable prior to the time such Awards vest in the Participant. 11.4 This Restricted Stock Award will be governed by and c...onstrued in accordance with the laws of the Commonwealth of Pennsylvania. 11.5 This Restricted Stock Award is subject to all laws, regulations and orders of any governmental authority which may be applicable thereto and, notwithstanding any of the provisions hereof, the Company will not be obligated to issue any shares of stock hereunder if the issuance of such shares would constitute a violation of any such law, regulation or order or any provision thereof. 11.6 Subject to written consent by the Committee, the Participant shall have the right to direct the Company to collect federal, state and local income taxes and the employee portion of FICA taxes (Social Security and Medicare) with respect to any Restricted Stock Award in accordance with Section 7.8 of the Plan. Notwithstanding the foregoing, the Company shall have the right to require the Participant to pay the Company the amount of any tax that the Company is required to withhold with respect to such vesting of the Restricted Stock Award or sell without notice, a sufficient number of shares of Stock to cover the minimum amount required to be withheld under applicable law. View More