Transfer Restrictions Clause Example from Business Contracts

This example Transfer Restrictions clause appears in 6 contracts from 1 company

Transfer Restrictions. Prior to the time that they have been delivered to you, you may not transfer, pledge, sell or otherwise dispose of the shares of Common Stock underlying your Units. For example, you may not use shares that may be issued in respect of your Units as security for a loan. This restriction on transfer will lapse upon delivery to you of shares of Common Stock in respect of your vested Units. Your Award is not transferable, except by will or by the laws of descent and distribution. Notwithstanding the ...foregoing, you may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who, in the event of your death, shall thereafter be entitled to receive any distribution of shares of Common Stock in respect of vested Units pursuant to this Restricted Stock Unit Award Agreement. View More