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Earning Restricted Stock Units
Earning Restricted Stock Units contract clause examples

Restricted Stock. The Corporation, as of the Effective Date, hereby grants to the Participant a Restricted Stock award of ​ shares of common stock, par value $0.10 per share, of the Corporation (the "Common Stock"), subject to the terms and conditions set forth herein and subject to the terms and conditions of the Plan which is incorporated herein by reference and made a part hereof for all purposes.

Award of Restricted Stock. The Company hereby grants to Participant an award (the “Award”) of restricted stock (the “Restricted Stock”) consisting of of the Company’s Common Shares, $1 Par Value (“Common Shares”), pursuant to, and subject to the terms of, 2017 Directors Equity Incentive Plan (the “Plan”).

Award of Restricted Stock. Company hereby awards to Participant the number of shares of common stock of Company, par value $0.001 per share, set forth on the signature page to this Agreement (“Restricted Shares”), subject to the Forfeiture Restrictions set forth herein.

Restricted Stock Unit Award. The Participant is hereby awarded, pursuant to 2021 Long-Term Incentive Plan (as amended from time to time, the “Plan”), and subject to its terms, a Restricted Stock Unit award (the “Award”) giving the Participant the conditional right to receive, without payment but subject to the conditions and limitations set forth in this Agreement and in the Plan, [●] shares of common stock of the Company, par value $1.00 per share (the “Shares”), subject to adjustment pursuant to Section 7 of the Plan in respect of transactions occurring after the date hereof.

Subject to the terms and conditions of the Plan and the additional terms and conditions set forth in this Agreement, the Company hereby grants to the Participant a Restricted Stock Award consisting of a number of shares of Common Stock (the “Shares” and such Shares subject to the vesting and other restrictions contained in this Agreement, the “Restricted Shares”) set forth on the Signature Page. The Restricted Shares shall vest and become nonforfeitable in accordance with Section 2 hereof.

Grant of Restricted Stock Award. The Company hereby grants to the Participant on the Grant Date set forth above a Restricted Stock Award (the “Award”) for ​ ( ) shares of common stock of the Company, par value $.10 per share (the “Shares”), on the terms and conditions set forth herein, which Shares are subject to adjustment pursuant to [Section 4(g)] of the Plan. The Shares will be issued to the Participant for no cash consideration. The Company will cause the Shares to be issued in “book form” with its transfer agent until such time as the risk of forfeiture and other transfer restrictions set forth in this Agreement have lapsed with respect to such Shares, at which time the Company will cause the Shares to be delivered to the Participant. In the alternative, in the Company’s sole discretion, the Company will cause to be issued one or more stock certificates representing such Shares in the Participant’s name, and will hold each such certificate (together with a stock power duly executed in blank by the Participant) represented by the certificate. The Company will place a legend on such certificates describing the risk of forfeiture and other transfer restrictions set forth in this Agreement providing for the cancellation of such certificates if the Shares are forfeited as provided in Section 2 below. Until such risk of forfeiture has lapsed or the Shares subject to this Award have been forfeited pursuant to Section 2 below, the Participant is entitled to vote the Shares and to receive all dividends or other distributions attributable to such Shares, but the Participant will not have any other rights as a stockholder with respect to such Shares.

Award of Restricted Stock Units. The Corporation hereby grants to the Participant on Award Date /$AwardsGranted$/ Restricted Stock Units. Each Restricted Stock Unit is a contingent right to receive a Restricted Stock Unit Share, subject to the restrictions and other terms and conditions set forth in the Plan and this Agreement. The Participant’s Award of Restricted Stock Units will be recorded in a memorandum account. The Participant will have no beneficial ownership interest in the Common Stock of the Corporation represented by the Restricted Stock Units awarded until the Participant receives a distribution of Restricted Stock Unit Shares.

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