Period of Restriction Sample Clauses
The 'Period of Restriction' clause defines the specific timeframe during which certain limitations or prohibitions apply to a party, such as restrictions on competing activities, disclosure of confidential information, or solicitation of clients. This period is typically measured from a key event, like the termination of an agreement or employment, and may last for a set number of months or years. By clearly establishing when restrictions begin and end, the clause provides certainty for both parties and helps prevent disputes over the duration of obligations.
Period of Restriction. The Award of Restricted Stock Units described in this Agreement shall be subject to the Period of Restriction as set forth in Paragraph 2; for purposes of this Agreement, “Period of Restriction” means the period of time after which the Award shall be deemed “vested” and settled in cash as provided in the Plan and this Agreement. The Restricted Stock Units awarded hereunder, and all rights with respect to such Restricted Stock Units, may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated.
Period of Restriction. (a) Subject to accelerated vesting or forfeiture as hereinafter provided, the Participant’s interest in the Award Shares shall become transferable and non-forfeitable (“Vested” or “Vesting”) on the following vesting dates, provided he remains in employment with the Company or any of its subsidiaries on the applicable date: Vesting Date Percent of Award Shares Vesting (in each case, rounded true to a whole share, with the balance on the final installment) 1st anniversary of Award Date <<PERCENT>> 2nd anniversary of Award Date <<PERCENT>> 3rd anniversary of Award Date <<PERCENT>> 4th anniversary of Award Date <<PERCENT>> 5th anniversary of Award Date <<PERCENT>> (each date, a “Vesting Date” and the period from the Award Date through each Vesting Date being a “Period of Restriction” with respect to the applicable Award Shares).
(b) Notwithstanding any other provision of this Agreement to the contrary:
(i) If the Participant’s employment with the Company and its subsidiaries is terminated during the Period of Restriction due to his death or permanent and total disability (within the meaning of Section 22(e)(3) of the Internal Revenue Code), any remaining unvested Award Shares at the date of such termination of employment shall automatically be Vested.
(ii) If the Participant’s employment with the Company and its subsidiaries is terminated during the Period of Restriction due to retirement at or after age 65 and provided no Cause (as defined below) exists to terminate his employment (“Normal Retirement”), then, provided either (i) upon such Normal Retirement the Participant will be subject to a non-competition covenant pursuant to an existing agreement with the Company or a subsidiary or (ii) the Participant executes and delivers to the Company, no later than the date of such Normal Retirement, a non-competition agreement in a form acceptable to the Company, any remaining unvested Award Shares at the date of such termination of employment shall automatically be Vested.
Period of Restriction. (i) The Restricted Stock Units subject to the Award shall be restricted during the period (the “Period of Restriction”) commencing on the Award Date and expiring on the first to occur of:
(a) The normal scheduled vesting of the Award Units. The Award Units shall vest in a single installment on the third anniversary of the Vesting Start Date (the “Anniversary Date”).
(b) The Participant’s death or permanent Disability; or
(c) The date of the Participant’s termination without Cause or termination for Good Reason, in each case, within 24 months following a Change of Control.
Period of Restriction. Except as otherwise set forth herein, all the Shares issued to the Trustee pursuant to this Agreement shall be subject to a period of restriction (the “Period of Restriction”) during which the Trustee’s rights in and to such Shares shall be subject to the limitations and obligations set forth in this Section 2.
Period of Restriction. Except as otherwise set forth herein, all the Units issued to the Participant pursuant to this Agreement shall be subject to a period of restriction (the “Period of Restriction”) during which the Participant’s rights in and to such Units shall be subject to the limitations and obligations set forth in this Section 2.
Period of Restriction. The restriction period with regard to the RSUs shall commence on the date the RSUs are granted. The Grantee shall not sell, transfer, assign, pledge or otherwise encumber or dispose of any portion of the RSUs, and any attempt to sell, transfer, assign, pledge or encumber any portion of the RSUs prior to termination of restrictions shall have no effect. During the period prior to vesting or forfeiture of all or any portion of the RSUs, the Grantee shall not be entitled to vote the Shares and shall not receive dividends paid on the Shares. The Grantee shall be entitled to receive dividend equivalents, in a cash amount equal to the number of RSUs subject to restriction times the per Share dividend (if any) paid to shareholders of the Corporation’s common stock; provided, however, the dividend equivalents shall not vest in, or be paid to the Grantee unless and to the extent the underlying RSUs vest as provided in Section 3 or 5 of this Agreement.
Period of Restriction. All restrictions imposed by this Agreement and the Plan shall apply to the Restricted Shares until such Restricted Shares are vested (as determined in accordance with Section 2(b) hereof) (the period during which such restrictions apply is referred to herein as the "Period of Restriction"). Restricted Shares as to which the Period of Restriction has ended are referred to herein as "Vested Shares."
Period of Restriction. The RSUs are subject to a Period of Restriction, during which the Grantee shall not vest in the RSUs, subject to earlier vesting in the event of a termination of Service as provided in Section 4 or a Change in Control as provided in Section 5. After the Period of Restriction ends with respect to an RSU, such RSU shall be considered vested, except as provided in this Agreement or the Plan. The Period of Restriction ends with respect to the RSUs in accordance with the following schedule:
Period of Restriction. The Shares are subject to a Period of Restriction, during which the Grantee shall not receive the Shares, be able to transfer the Shares, or otherwise have rights with respect to the Shares, subject to earlier vesting in the event of a termination of Service as provided in Section 4 or a Change in Control as provided in Section 5. After the Period of Restriction ends with respect to a Share, such Share shall be considered vested, except as provided in this Agreement or the Plan. The Period of Restriction ends with respect to the Shares in accordance with the following schedule:
Period of Restriction. (a) Subject to Paragraph 7, the Restricted Shares shall constitute "Vested Shares" pro rata over a period of thirty-six (36) months, beginning one month after the date of this Agreement. Notwithstanding the foregoing schedule, the Company may deem all or any portion of the Restricted Shares to be Vested Shares whenever, in the Company's sole discretion, circumstances warrant such action. Furthermore, should there be a "Change in Control" of the Company as defined herein, then all remaining Restricted Shares shall be deemed to be Vested Shares.