Issuance of Certificate. (a) The Grant Shares may not be Transferred until they become Vested Shares. Further, the Vested Shares may not be sold or otherwise disposed of in any manner which would constitute, in the opinion of counsel for the Company, a violation of any applicable federal or state securities or other laws or regulations, or any rules or regulations of any stock exchange on which the Common Stock is listed. The Company shall cause to be issued a stock certificate, registered in the name of the Grantee, evidencing the Grant Shares upon receipt of a stock power duly endorsed in blank with respect to such shares. Each such stock certificate shall bear the following legend: (b) The Certificate issued pursuant to this Section 4, together with the stock powers relating to the Grant Shares evidenced by such certificate, shall be held by the Company. The Company shall issue to Grantee a receipt evidencing the certificates held by it which are registered in the name of Grantee.
Appears in 20 contracts
Sources: Restricted Stock Agreement (Resaca Exploitation, Inc.), Restricted Stock Agreement (Resaca Exploitation, Inc.), Restricted Stock Agreement (Resaca Exploitation, Inc.)