Restrictions Clause Example from Business Contracts

Restrictions. Subject to any exceptions set forth in this Agreement or the Plan, during the Period of Restriction, the Restricted Stock or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the Restricted Stock or the rights relating thereto during the Period of Restriction shall be wholly ineffective and, if any such attempt is made, t...he Restricted Stock will be forfeited by the Grantee and all of the Grantee's rights to such Shares shall immediately terminate without any payment or consideration by the Company. View More