Common use of Restrictions and Restricted Period Clause in Contracts

Restrictions and Restricted Period. (a) Units shall be issued in the name of the Employee upon the execution by the Employee of this Agreement, and shall be evidenced on the books and records of Limited. One-third of the Units issued herein shall be free of any transfer or forfeiture restrictions set forth in Sections 2 and 4 of this Agreement as of the Award Date. (b) If the Employee terminates service with the Company, or the Company terminates the service of the Employee for any reason whatsoever prior to the first anniversary of the Award Date, two-thirds of the Units issued to the Employee herein shall be forfeited and void, and the cash capital contribution paid by the Employee in respect of such forfeited Restricted Units shall be returned to the Employee. If the Employee is in the employ of the Company on the first anniversary of the award date, an additional one-third of the Units granted to the Employee herein shall be free of all restrictions contained in this Agreement. (c) If the Employee terminates service with the Company, or the Company terminates the service of the Employee for any reason whatsoever after the first anniversary of the Award Date but prior to the second anniversary of the Award Date, one-third of the Units shall be forfeited and void, and the cash capital contribution paid by the Employee in respect of such forfeited Restricted Units shall be returned to the Employee. If the Employee is in the employ of the Company on the second anniversary of the Award Date, all restrictions with respect to all Units covered by this Agreement shall lapse. (d) Notwithstanding the foregoing provisions of this Section 4, all forfeiture and transfer restrictions with respect to the Units (other than as provided in Section 9 hereof) shall lapse (i) upon the death or permanent and total disability of the Employee; (ii) if the Company exercises its "Bring-Along Rights" described in Section 7 hereof; or (iii) if there is a "Change in Control." 15.