Common use of Vesting and Forfeitures Clause in Contracts

Vesting and Forfeitures. SHARES SHALL CEASE TO BE RESTRICTED STOCK AND SHALL BECOME VESTED IN ACCORDANCE WITH THE FOLLOWING SCHEDULE PROVIDED THE EXECUTIVE IS EMPLOYED BY THE COMPANY ON THE FOLLOWING VESTING DATES. [Time Vesting Alternative:] [Performance Vesting Alternative:] [Insert description/calculation of performance measure]. Any shares of Restricted Stock which do not vest on a Vesting Date shall be immediately forfeited by the Executive, and returned and released to the Company, and the Executive thereafter shall have no further rights with respect to such shares. During the Restricted Period, all certificates evidencing the Restricted Stock will be imprinted will the following legend: "The securities evidenced by this certificate are subject to the transfer restrictions, forfeitures and other provisions of the Restricted Stock Agreement, dated as of ______________ between Ethan ▇▇▇▇▇ Interiors Inc. and __________."

Vesting and Forfeitures. SHARES SHALL CEASE TO BE RESTRICTED STOCK AND SHALL BECOME VESTED IN ACCORDANCE WITH THE FOLLOWING SCHEDULE PROVIDED THE EXECUTIVE DIRECTOR IS EMPLOYED BY PROVIDING SERVICES TO THE COMPANY ON THE FOLLOWING VESTING DATES. [Time Vesting Alternative:] [Performance Vesting Alternative:] [Insert description/calculation of performance measure]. : Any shares of Restricted Stock which that do not vest on a Vesting Date shall be immediately forfeited by the ExecutiveDirector, and returned and released to the Company, and the Executive Director thereafter shall have no further rights with respect to such shares. Any shares of Restricted Stock that are not vested or forfeited on the date on which the Director ceases to serve in such capacity, other than by reason of the Director having been removed from such service in accordance with the By-Laws of the Company, shall vest on such date. During the Restricted Period, all certificates evidencing the Restricted Stock will be imprinted will the following legend: "The securities evidenced by this certificate are subject to the transfer restrictions, forfeitures and other provisions of the Restricted Stock Agreement, dated as of ______________ between Ethan ▇▇▇▇▇ Interiors Inc. and __________."