Common use of Restrictions During Restriction Period Clause in Contracts

Restrictions During Restriction Period. A stock certificate representing the number of Restricted Shares specified in Section 1 above shall be registered in the Director’s name (the “Stock Certificate”), and shall be deposited and held in the custody of the Company for the Director’s account until such Restricted Shares vest. Director acknowledges and agrees that Restricted Shares may be issued as a book entry with the Company’s transfer agent and that no physical certificates need be issued for as long as the Restricted Shares remain unvested (“Unvested Shares”). Upon written request to the Company by the Director, a stock certificate for Restricted Shares which become vested under this Agreement shall be delivered to the Director.