Common use of Lapse of Restrictions; Restricted Period Clause in Contracts

Lapse of Restrictions; Restricted Period. Except as otherwise provided in the Recipient’s Employment Agreement with the Company, the restrictions set forth in Section 1 above shall lapse and a portion of the Restricted Shares shall become unrestricted and freely tradable only as follows: (i) 25% of the Restricted Shares on the day (the “First Measurement Date”) on which the Total Return to the Company’s shareholders for the period beginning February 23, 2010 through the First Measurement Date shall equal at least 40% for ten (10) consecutive Business Days; provided, however, the First Measurement Date shall not occur later than February 23, 2016;

Appears in 1 contract

Sources: Restricted Stock Agreement (First Potomac Realty Trust)

Lapse of Restrictions; Restricted Period. Except as otherwise provided in the Recipient’s Employment Agreement with the Company, the restrictions set forth in Section 1 above shall lapse and a portion of the Restricted Shares shall become unrestricted and freely tradable only as follows: (i) 25% of the Restricted Shares on the day (the “First Measurement Date”) on which the Total Return to the Company’s shareholders for the period beginning February 23May 21, 2010 2009 through the First Measurement Date shall equal at least 40% for ten (10) consecutive Business Days; provided, however, the First Measurement Date shall not occur later than February 23May 21, 20162015;

Appears in 1 contract

Sources: Restricted Stock Agreement (First Potomac Realty Trust)

Lapse of Restrictions; Restricted Period. Except as otherwise provided in the Recipient’s Employment Agreement with the Company, the restrictions set forth in Section 1 above shall lapse and a portion of the Restricted Shares shall become unrestricted and freely tradable only as follows: (i) 25% of the Restricted Shares on the day (the “First Measurement Date”) on which the Total Return to the Company’s shareholders for the period beginning February 23, 2010 200 through the First Measurement Date shall equal at least 40% for ten (10) consecutive Business Days; provided, however, the First Measurement Date shall not occur later than February 23, 201620 ;

Appears in 1 contract

Sources: Restricted Stock Agreement (First Potomac Realty Trust)