Restrictions Clause Example with 5 Variations from Business Contracts
This page contains Restrictions clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Restrictions. The Shares are subject to each of the following restrictions. "Restricted Shares" mean those Shares that are subject to the restrictions imposed hereunder and such restrictions have not then expired or terminated. Restricted Shares may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered. If Grantee's Continuous Status as a Participant terminates for any reason other than as set forth in paragraph (b) of Section 4 hereof, then Grantee shall forfeit all of ...Grantee's right, title and interest in and to the Restricted Shares as of the date of termination of such service or employment, and such Restricted Shares shall revert to the Company. The restrictions imposed under this Section shall apply to all shares of the Company's Stock with respect to the Restricted Shares or other securities issued in connection with any merger, reorganization, consolidation, recapitalization, stock dividend or other change in corporate structure affecting the Stock of the Company.View More
Variations of a "Restrictions" Clause from Business Contracts
Restrictions. The Shares are subject to each of the following restrictions. "Restricted Shares" mean those Shares that are subject to the restrictions imposed hereunder and such which restrictions have not then expired or terminated. Restricted Shares may not be sold, transferred, exchanged, assigned, pledged, encumbered or hypothecated to or otherwise encumbered. If Grantee's Continuous Status as a Participant terminates for in favor of any reason party other than as set forth the Corporation, or be subjecte...d to any lien, obligation or liability of Holder to any other party other than the Corporation. If the Restricted Shares do not become vested in paragraph (b) of accordance with the vesting criteria in Section 4 hereof, 1, then Grantee Holder shall forfeit all of Grantee's Holder's right, title and interest in and to the Restricted Shares as of the date of termination of such service or employment, and such Restricted Shares shall revert to the Company. Corporation immediately following the event of forfeiture. The restrictions imposed under this Section 2 shall apply to all shares of the Company's Stock with respect to the Restricted Shares or other securities issued with respect to Restricted Shares hereunder in connection with any merger, reorganization, consolidation, recapitalization, stock dividend or other change in corporate structure affecting the Stock capital stock of the Company. 1 3. Delivery of Shares. (a) The Shares shall be registered in the name of Holder as of the Grant Date and will be held by the Corporation during the Restricted Period in certificated or uncertificated form. If a certificate for Restricted Shares is issued during the Restricted Period with respect to such Shares, such certificate shall be registered in the name of Holder and shall bear a legend in substantially the following form (in addition to any legend required under applicable state securities laws): "THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE AND RESTRICTIONS AGAINST TRANSFER) CONTAINED IN A RESTRICTED STOCK AGREEMENT BETWEEN THE REGISTERED OWNER OF THE SHARES REPRESENTED HEREBY AND MEDL MOBILE HOLDINGS, INC. RELEASE FROM SUCH TERMS AND CONDITIONS SHALL BE MADE ONLY IN ACCORDANCE WITH THE PROVISIONS OF SUCH AGREEMENT, COPIES OF WHICH ARE ON FILE IN THE OFFICES OF MEDL MOBILE HOLDINGS, INC." (b) Stock certificates for the Shares without the first above legend shall be delivered to Holder or Holder's designee upon request of Holder after the expiration of the Restricted Period, but delivery may be postponed for such period as may be required for the Corporation with reasonable diligence to comply, if deemed advisable by the Corporation, with registration requirements under the Securities Act of 1933, as amended (the "Securities Act"), listing requirements under the rules of any stock exchange, and requirements under any other law or regulation applicable to the issuance or transfer of the Shares. (c) The Holder agrees to deliver to the Corporation a stock power executed in blank covering the Shares (and covering any capital stock distributed with respect to such Shares) which shall be returned to Holder with the appropriate stock certificate after the expiration of the Restricted Period. The stock power with respect to any certificate representing Shares which do not vest shall be completed in the name of the Corporation by an officer of the Corporation and returned to the treasury. View More
Restrictions. The Shares are subject to each of the following restrictions. "Restricted Shares" mean those Shares that are subject to the restrictions imposed hereunder and such which restrictions have not then expired or terminated. Restricted Shares may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered. If Grantee's Continuous Status service as a Participant director of the Company or any Subsidiary terminates for any reason other than as set forth in paragraph (b)... of Section 4 hereof, reason, then Grantee shall forfeit all of Grantee's right, title and interest in and to the Restricted Shares as of the date of termination of such service or employment, termination, and such Restricted Shares shall revert to the Company. Company immediately following the event of forfeiture. The restrictions imposed under this Section shall apply to all shares of the Company's Stock with respect to the Restricted Shares or other securities issued with respect to Restricted Shares hereunder in connection with any merger, reorganization, consolidation, recapitalization, stock dividend or other change in corporate structure affecting the Stock of the Company. Company.2. Expiration and Termination of Restrictions. The restrictions imposed under Section 1 will expire on the earliest to occur of the following (the period prior to such expiration being referred to herein as the "Restricted Period"): (a)on the earlier of (i) the first anniversary of the Grant Date or (ii) the date of the annual meeting of the Company's stockholders in 2022; provided Grantee is then a member of the Board of Directors of the Company (b)upon Grantee's Disability or death, but only with respect to the number of Shares that would otherwise have vested within the 12 months following the Disability or death based on Grantee's continued service with the Company; or(c)upon a Change of Control of the Company.3. Delivery of Shares. The Shares will be registered in the name of Grantee as of the Grant Date and may be held by the Company during the Restricted Period in certificated or uncertificated form. If a certificate for Restricted Shares is issued during the Restricted Period with respect to such Shares, such certificate shall be registered in the name of Grantee and shall bear a legend in substantially the following form (in addition to any legend required under applicable state securities laws): "This certificate and the shares of stock represented hereby are subject to the terms and conditions (including forfeiture and restrictions against transfer) contained in a Restricted Stock Agreement between the registered owner of the shares represented hereby and Citi Trends, Inc. Release from such terms and conditions shall be made only in accordance with the provisions of such Agreement, copies of which are on file in the offices of Citi Trends, Inc." Stock certificates for the Shares, without the first above legend, shall be delivered to Grantee or Grantee's designee upon request of Grantee after the expiration of the Restricted Period, but delivery may be postponed for such period as may be required for the Company with reasonable diligence to comply, if deemed advisable by the Company, with registration requirements under the Securities Act of 1933, listing requirements under the rules of any stock exchange, and requirements under any other law or regulation applicable to the issuance or transfer of the Shares.4. Voting Rights. Grantee, as beneficial owner of the Shares, shall have full voting rights with respect to the Shares during and after the Restricted Period. View More
Restrictions. The Shares are subject to each of the following restrictions. "Restricted Shares" mean those Shares that are subject to the restrictions imposed hereunder and such which restrictions have not then expired or terminated. Restricted Shares may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered. If Grantee's Continuous Status as a Participant employment with the Company or any Subsidiary terminates for any reason other than as set forth in paragraph (b) of ...Section 4 hereof, reason, then Grantee shall forfeit all of Grantee's right, title and interest in and to the Restricted Shares as of the date of termination of such service or employment, employment termination, and such Restricted Shares shall revert to the Company. Company immediately following the event of forfeiture. The restrictions imposed under this Section shall apply to all shares of the Company's Stock with respect to the Restricted Shares or other securities issued with respect to Restricted Shares hereunder in connection with any merger, reorganization, consolidation, recapitalization, stock dividend or other change in corporate structure affecting the Stock of the Company.2. Expiration and Termination of Restrictions. The restrictions imposed under Section 1 will expire on the earliest to occur of the following (the period prior to such expiration being referred to herein as the "Restricted Period"): (a)as to the percentage of the Shares specified on the cover page hereof, on the respective date specified on the cover page hereof; provided Grantee is then employed by the Company; or(b)upon Grantee's death or Disability, but only with respect to the number of Shares that would otherwise have vested within the 12 months following the death or Disability based on Grantee's continued employment with the Company; or(c)upon a Change of Control of the Company. View More
Restrictions. The Shares are subject to each of the following restrictions. "Restricted Shares" mean means those Shares that are subject to the restrictions imposed hereunder and such which restrictions have not then expired or terminated. Restricted Shares may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered. If the Grantee's Continuous Status as a Participant employment with the Company or any Parent or Subsidiary terminates for any reason other than as set forth ...in paragraph (a) or (b) of Section 4 hereof, then the Grantee shall forfeit all of the Grantee's right, title and interest in and to the Restricted Shares as of the date of employment termination of such service or employment, and such Restricted Shares shall revert be re-conveyed to the Company. Company without further consideration or any act or action by the Grantee. The restrictions imposed under this Section 3 shall apply to all shares of the Company's Stock with respect to the Restricted Shares stock or other securities issued with respect to Restricted Shares hereunder in connection with any merger, reorganization, consolidation, recapitalization, re-capitalization, stock dividend or other change in corporate structure affecting the Stock common stock of the Company. Restricted Stock Agreement -- Grantee [DATE]- 4. Expiration and Termination of Restrictions. The restrictions imposed under Section 3 will expire on the earliest to occur of the following: (a) On the date of termination of the Grantee's employment with the Company or any Parent or Subsidiary because of his or her death or Disability; or (b) On the date specified by the Committee or as otherwise established in the Plan in the event of an acceleration of vesting under Article 14 of the Plan (including, without limitation, upon the occurrence of a Change in Control, as defined in the Plan). View More
Restrictions. The Shares are subject to each of the following restrictions. "Restricted Shares" mean those Shares that are subject to the restrictions imposed hereunder and such which restrictions have not then expired or terminated. Restricted Shares may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered. If Subject to Section 3 hereof, if Grantee's Continuous Status as a Participant service terminates for any reason other than as set forth described in paragraph (b)... of Section 4 hereof, 2(c) below, then Grantee shall forfeit all of Grantee's right, title and interest in and to the Restricted Shares as of the date of termination of such service or employment, termination, and such Restricted Shares shall revert be reconveyed to the Company. Company without further consideration or any act or action by the Grantee. If any Restricted Shares do not vest pursuant to Section 2(c), then Grantee shall forfeit all of Grantee's right, title and interest in and to such Restricted Shares as of the date of termination, and such Restricted Shares shall be reconveyed to the Company without further consideration or any act or action by the Grantee. The restrictions imposed under this Section shall apply to all shares of the Company's Common Stock with respect to the Restricted Shares or other securities issued with respect to Restricted Shares hereunder in connection with any merger, reorganization, consolidation, recapitalization, stock dividend or other change in corporate structure affecting the Stock of the Company. Common Stock. View More
