Common use of Restrictions on Performance Shares Clause in Contracts

Restrictions on Performance Shares. Until the Performance Shares, if any, vest, unless otherwise determined by the Committee: (a) the Performance Shares may not be sold, assigned, pledged or transferred by the Grantee; and (b) all Performance Shares and accrued dividends will be forfeited and returned to the Company and the Grantee will cease to have any right to receive any Performance Shares or dividends pursuant to this Agreement, if the Grantee ceases to be an employee of the Company or any business entity in which the Company owns directly or indirectly 50% or more of the total voting power or has a significant financial interest as determined by the Committee (an “Affiliate”), other than terminations of employment covered by Sections 6(b), (c) or 7 hereunder.