Example ContractsClausesextension of restriction periodVariants
Remove:

No Deferral Election – Restriction Period. Restricted Stock Units are subject to a Restriction Period which will terminate on or, if Corporation’s Common Stock is not traded on such date, on the next date on which the Corporation’s Common Stock is traded.

No Deferral Election – Restriction Period. Restricted Stock Units are subject to a Restriction Period which will terminate on /$LastVestDate$/ or, if Corporation’s Common Stock is not traded on such date, on the next preceding date on which the Corporation’s Common Stock is traded.

No Deferral Election – Restriction and Retention Period. If the Participant makes a deferral election as described in Section 3 of this Agreement, then the Restricted Stock Units are subject to a Restriction Period which will terminateterminates on or, if Corporation’s Common Stock is not traded on such anniversary date, on the next date on which the Corporation’s Common Stock is traded. In addition, the Restricted Stock Units are subject to a Retention Period. The Retention Period will expire upon the Participant’s Separation from Service (within the meaning of section 409A of the Internal Revenue Code of 1986, as amended, and the regulations thereunder) (a “Separation From Service”) or death. Restricted Stock Units will not be settled in Restricted Stock Unit Shares until the expiration of both the Restriction Period and the Retention Period.

No Deferral Election – Restriction and Retention Period. If the Participant makes a deferral election as described in [Section 3] of this Agreement, then the Restricted Stock Units are subject to a Restriction Period which will terminateterminates on /$LastVestDate$/ or, if Corporation’s Common Stock is not traded on such anniversary date, on the next preceding date on which the Corporation’s Common Stock is traded. In addition, the Restricted Stock Units are subject to a Retention Period. The Retention Period will expire upon the Participant’s Separation from Service (within the meaning of section 409A of the Internal Revenue Code of 1986, as amended, and the regulations thereunder) (a “Separation From Service”) or death. Restricted Stock Units will not be settled in Restricted Stock Unit Shares until the expiration of both the Restriction Period and the Retention Period.

Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.