Certificates Representing Restricted Shares. Any stock certificate representing Restricted Shares shall bear an appropriate legend with respect to the Forfeiture Restrictions applicable to such Restricted Shares and such stock certificate shall be reissued without such legends upon the lapse of all Forfeiture Restrictions applicable to the shares represented thereby. The Company may retain, at its option, the physical custody of any stock certificate representing any Restricted Shares, or require that such certificates be placed in escrow or trust, until all Forfeiture Restrictions applicable thereto are removed or lapse. The Employee shall promptly surrender to the Company for cancellation any stock certificate representing Restricted Shares that have become forfeited.
Appears in 2 contracts
Sources: Long Term Incentive Restricted Stock Unit Award Agreement (Pioneer Energy Services Corp), Long Term Incentive Restricted Stock Unit Award Agreement (Pioneer Energy Services Corp)