Grants of Restricted Stock Sample Clauses

Grants of Restricted Stock. The Board of Directors may grant a Participant an award of Restricted Stock subject to such terms and conditions as the Board of Directors deems appropriate, including, without limitation, restrictions on the pledging, sale, assignment, transfer or other disposition of such shares and the requirement that the Participant forfeit all or a portion of such shares back to the Company upon termination of employment.

Grants of Restricted Stock. Subject to the terms and conditions contained in this Agreement, the Notice of Grant applicable to the Award and the Plan, the Company may, from time to time in its discretion, grant you Restricted Stock. The Shares issued pursuant to an Award of Restricted Stock will be registered in your name. The Shares will be evidenced by one or more certificates delivered to and deposited with the Secretary of the Company as escrow agent or, at the discretion of the Company, may be held in a restricted book entry account in lieu of issuing a certificate or certificates. Such certificates or such book entry shares are to be held by the escrow agent until the Restricted Stock vests, at which time the escrow agent will release the vested Shares; provided, however, that a portion of the Shares may be surrendered in payment of required withholding taxes in accordance with Section 8(b) below, unless alternative procedures for the payment of required withholding taxes are established by the Company.

Grants of Restricted Stock. The title of Section 6 shall be changed to “Stock Options/Restricted Stock”. Section 6 shall be deleted in its entirety and replaced with the following: (a) Employee shall be eligible for awards under Employer’s 2007 Incentive Stock Plan (the “Plan”) on the same terms as are generally available to senior executive officers of Employer and on terms which are in accordance with comparative market practices. The parties agree that any grant of stock options or restricted stock under the Plan or any similar plan is subject to the discretion of the Board (or Compensation Committee) based upon the duties of Employee’s position, the extent to which Employee’s individual performance objectives and Employer’s profitability objectives and other financial and non-financial objectives were achieved during the applicable period. (b) In addition to any rights Employee may have under the Plan or specific option and restricted stock grants under the Plan, all stock options and restricted stock granted to Employee which would have otherwise vested during the two-year period following the occurrence of a Change in Control shall immediately vest and become exercisable in the event of a Change in Control.

Grants of Restricted Stock. (a) The Company may grant Restricted Stock or Rights to receive Restricted Stock to Eligible Directors and Eligible Employees as provided in this Article IV. Shares of Restricted Stock, or Rights thereto, will be deemed granted only upon (i) authorization by the Committee and (ii) the execution and delivery of a Restricted Stock Agreement by the Eligible Director or Eligible Employee to whom such Restricted Stock is to be issued (the "Holder") and a duly authorized officer of the Company. Restricted Stock will not be deemed to have been granted merely upon authorization by the Committee. The aggregate number of shares of Restricted Stock potentially acquirable under all Rights to acquire Restricted Stock shall not exceed the total number of shares of Stock in the Plan Pool, less all shares of Stock potentially acquirable under, or underlying, all other Rights outstanding under this Plan. (b) Each grant of Restricted Stock, or Rights thereto, pursuant to this Article IV will be evidenced by a Restricted Stock Agreement between the Company and the Holder in form and substance satisfactory to the Committee in its sole discretion, consistent with this Article IV. Each Restricted Stock Agreement will specify the purchase price per share (the "Purchase Price"), if any, with respect to the Restricted Stock to be issued to the Holder thereunder. The purchase price will be fixed by the Committee in its discretion. The Purchase Price will be payable to the Company in United States dollars in cash or by check or such other legal consideration as may be approved by the Committee, in its discretion. (c) Without limiting the foregoing, each Restricted Stock Agreement shall include the following terms and conditions: (i) Nothing contained in this Article IV, any Restricted Stock Agreement or in any other agreement executed in connection with the issuance of Restricted Stock under this Article IV will confer upon any Holder any right with respect to the continuation of his or her status as an employee or director of the Company or any of its Subsidiaries. (ii) Except as otherwise provided herein, each Restricted Stock Agreement may specify the period or periods of time within which each Right to receive Restricted Stock or portion thereof will first become exercisable (the "Vesting Period") with respect to the total number of shares of Restricted Stock acquirable thereunder. Such Vesting Periods will be fixed by the Committee in its discretion, and may be accelerated or s...

Grants of Restricted Stock. (a) Employee shall continue to be eligible to participate in Employer’s 2007 Incentive Stock Plan (For Restricted Stock Bonus Awards) (the “Plan”) on the same terms as are generally available to executive officers of Employer and on terms which are in accordance with comparative market practices. Subject to the terms and conditions of the 2007 Stock incentive Plan, effective April 1, 2016, Employee will be granted 5,000 restricted shares of Employer common stock. These shares will vest by March 31, 2017, if Employer achieves budgeted pre-tax net income of US$13 million or more in 2016. In addition, the restricted shares of Employer common stock granted to Employee pursuant to the employment agreement between Employer and Employee dated as of August 13, 2014 (the “2014 Employment Agreement”) that are unvested as of the Start Date shall continue to vest in accordance with the terms of the 2014 Employment Agreement. (b) The parties agree that any additional grant of restricted stock under the Plan or any similar plan is subject to the discretion of the Compensation Committee of the Board based upon the duties of Employee’s position, the extent to which Employee’s individual performance objectives and Employer’s profitability objectives and other financial and non-financial objectives were achieved during the applicable period, and comparative market practices. (c) In addition to any rights Employee may have under the Plan or specific restricted stock under the Plan, all restricted stock bonus awards granted to Employee which would have otherwise vested during the period following the occurrence of a Change in Control shall immediately vest and become exercisable in the event of a Change in Control.

Grants of Restricted Stock. (a) Employee will be eligible to participate in any Employer’s incentive stock plan (For Restricted Stock Bonus Awards) (the “Plan”) on the same terms as are generally available to executive officers of Employer and on terms which are in accordance with comparative market practices. The parties agree that any additional grant of restricted stock under the Plan or any similar plan is subject to the discretion of the Board, or the Compensation Committee of the Board, based upon the duties of Employee’s position, the extent to which Employee’s individual performance objectives and Employer’s profitability objectives and other financial and non-financial objectives were achieved during the applicable period, and comparative market practices. (b) In addition to any rights Employee may have under the Plan or specific restricted stock under the Plan, all restricted stock bonus awards granted to Employee which would have otherwise vested during the period following the occurrence of a Change in Control shall immediately vest and become exercisable in the event of a Change in Control.

Grants of Restricted Stock. (a) Employee shall continue to be eligible to participate in Employer’s 2021 incentive stock plan (For Restricted Stock Bonus Awards) (the “Plan”) on the same terms as are generally available to executive officers of Employer and on terms which are in accordance with comparative market practices. The restricted shares of Employer’s common stock granted to Employee pursuant to the Prior Employment Agreement that are unvested as of the Start Date shall continue to vest in accordance with their existing terms. (b) Subject to Section 6(c) below, the parties agree that any additional grant of restricted stock under the Plan or any similar plan is subject to the discretion of the Compensation Committee of the Board based upon the duties of Employee's position, the extent to which Employee's individual performance objectives and Employer's profitability objectives and other financial and non-financial objectives were achieved during the applicable period, and comparative market practices. (c) Notwithstanding anything to the contrary in this Agreement, Employee shall be granted a number of shares of restricted stock that is no less than sixty-five percent (65%) of the number of shares of restricted stock granted to the CEO. (d) In addition to any rights Employee may have under the Plan or specific restricted stock under the Plan, all restricted stock bonus awards granted to Employee which would have otherwise vested during the period following the occurrence of a Change in Control shall immediately vest and become exercisable in the event of a Change in Control.

Grants of Restricted Stock. Subject to the approval of the Compensation Committee of the Board of Directors of Mercantile Bankshares Corporation (“Mercshares”), which approval Management of Employer will recommend, Executive: 1) will receive a grant of 10,000 restricted shares of common stock of Mercshares, which shares shall vest entirely three (3) years from Executive’s date of employment. 2) if he is actively employed by Employer on December 31, 2003, will receive a grant of 10,000 restricted shares of common stock of Mercshares, which shares shall vest entirely three (3) years after December 31, 2003. The restricted shares referred to herein shall only vest if Executive is actively employed by Employer on the dates of vesting. Otherwise the grants of restricted shares shall lapse. Furthermore, the grants will become effective only upon the execution and delivery of, and will be subject to the terms of, restricted stock agreements to be approved by counsel and entered into between Mercshares and Executive and, to the extent necessary, by Employer.

Grants of Restricted Stock. (a) Employee shall continue to be eligible to participate in Employer’s 2023 Incentive Stock Plan and any successor or replacement plan for restricted stock awards (the “Plan”) on the same terms as are generally available to executive officers of Employer and on terms which are in accordance with comparative market practices. The restricted shares of Employer’s common stock granted to Employee pursuant to the Prior Employment Agreement that are unvested as of the Start Date shall continue to vest in accordance with their existing terms. (b) Subject to Section 6(c) below, the parties agree that any additional grant of restricted stock under the Plan or any similar plan is subject to the discretion of the Compensation Committee of the Board based upon the duties of Employee's position, the extent to which Employee's individual performance objectives and Employer's profitability objectives and other financial and non-financial objectives were achieved during the applicable period, and comparative market practices. (c) Notwithstanding anything to the contrary in this Agreement or elsewhere, Employee shall receive all incentive bonuses described in Section 4(b), above, and restricted stock awards described in Sections 6(a) and (b), above, per the 2024 bonus plan and long-term equity award schedule approved by the Compensation Committee on or before the Start Date for calendar year 2024 (whether payable or granted (as applicable) in 2024 or 2025), respectively, and the Employer may not reduce the bonus or stock award amounts for discretionary reasons. This Section 6(c) shall only be applicable to 2024 bonus plan payments and 2024 long term equity awards and will no longer be applicable thereafter. (d) In addition to any rights Employee may have under the Plan or specific restricted stock under the Plan, all restricted stock bonus awards granted to Employee which would have otherwise vested during the period following the occurrence of a Change in Control shall immediately vest and become exercisable in the event of a Change in Control.