Common use of Release of Restrictions Clause in Contracts

Release of Restrictions. Subject to the provisions of paragraph 4 below, the restrictions described in paragraph 2 above shall be released with respect to the Award Shares on the first anniversary of the Date of Award, except as follows:

Appears in 14 contracts

Sources: Director Restricted Stock Agreement (Aar Corp), Director Restricted Stock Agreement (Aar Corp), Director Restricted Stock Agreement (Aar Corp)

Release of Restrictions. Subject to the provisions of paragraph 4 below, the restrictions described in paragraph 2 above shall be released with respect to 1/3 of the Award Shares on the first each successive anniversary of the Date of Award, except as follows:

Appears in 2 contracts

Sources: Director Restricted Stock Agreement (Aar Corp), Director Restricted Stock Agreement (Aar Corp)

Release of Restrictions. Subject to the provisions of paragraph 4 below, the restrictions described in paragraph 2 above shall be released with respect to the Award Shares on the first anniversary of the Date of Award, except as follows:: ​

Appears in 1 contract

Sources: Director Restricted Stock Agreement (Aar Corp)