Restrictions on Transfer and Conversion. (a) The Company and the Holder acknowledge and agree that the Restricted Shares are subject to and restricted by this Agreement. Once vested, the Restricted Shares shall no longer be restricted by the terms of this Agreement but shall be subject to the restrictions set forth in the Registration Rights Agreement and the Securities Act. (b) The Restricted Shares shall only be transferable to Permitted Transferees of the Holder. Any attempt to Transfer any of the Restricted Shares to Persons other than Permitted Transferees of the Holder shall be null and void and have no force or effect, and the Company shall not, and shall cause any transfer agent not to, give any effect in such entity’s share records to such attempted Transfer. (c) The Holder acknowledges that the transfer restrictions contained in this Agreement are reasonable and in the best interests of the Company. The Holder understands that this Agreement contains forfeiture provisions in respect of the Restricted Shares in favor of the Company or its designee upon the Holder’s termination of employment.
Appears in 5 contracts
Sources: Restricted Common Stock Agreement (STR Holdings, Inc.), Restricted Common Stock Agreement (STR Holdings, Inc.), Restricted Common Stock Agreement (STR Holdings, Inc.)
Restrictions on Transfer and Conversion. (a) The Company and the Holder acknowledge and agree that the Restricted Shares are subject to and restricted by this Agreement. Once vested, the Restricted Shares shall no longer be restricted by the terms of this Agreement but shall be subject to the restrictions set forth in the Registration Rights Agreement and the Securities Act.
(b) The Restricted Shares shall only be transferable to Restricted Share Permitted Transferees of the Holder. Any attempt to Transfer any of the Restricted Shares to Persons other than Restricted Share Permitted Transferees of the Holder shall be null and void and have no force or effect, and the Company shall not, and shall cause any transfer agent not to, give any effect in such entity’s share records to such attempted Transfer.
(c) The Holder acknowledges that the transfer restrictions contained in this Agreement are reasonable and in the best interests of the Company. The Holder understands that this Agreement contains forfeiture provisions in respect of the Restricted Shares in favor of the Company or its designee upon the Holder’s termination of employment.
Appears in 2 contracts
Sources: Restricted Common Stock Agreement (STR Holdings (New) LLC), Restricted Common Stock Agreement (STR Holdings, Inc.)
Restrictions on Transfer and Conversion. (a) The Company and the Holder acknowledge and agree that the Restricted Shares are subject to and restricted by this Agreement. Once vested, the Restricted Shares shall no longer be restricted by the terms of this Agreement but shall be subject to the restrictions set forth in the Registration Rights Agreement and the Securities Act.
(b) The Restricted Shares shall only be transferable to Permitted Transferees of the Holder. Any attempt to Transfer any of the Restricted Shares to Persons other than Permitted Transferees of the Holder shall be null and void and have no force or effect, and the Company shall not, and shall cause any transfer agent not to, give any effect in such entity’s share records to such attempted Transfer.
(c) The Holder acknowledges that the transfer restrictions contained in this Agreement are reasonable and in the best interests of the Company. The Holder understands that this Agreement contains forfeiture provisions in respect of the Restricted Shares in favor of the Company or its designee upon the Holder’s termination of employment.
Appears in 1 contract
Sources: Restricted Common Stock Agreement (STR Holdings (New) LLC)