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This excerpt taken from the LOOP DEF 14A filed Apr 18, 2007. Restricted
stock
Restricted stock grants are awards of a specific number of
shares of our common stock. Unless the administrator determines
otherwise, the restricted stock agreement will grant LoopNet a
repurchase option exercisable, or a forfeiture condition
triggered, upon the voluntary or involuntary termination of the
participant’s employment with LoopNet for any reason,
including death or disability. The purchase price for shares
repurchased pursuant to the restricted stock purchase agreement
will be determined by the administrator. The repurchase option
or forfeiture condition may lapse at a rate determined by the
administrator. The grant, issuance
and/or
vesting of restricted stock may be subject to performance
criteria, including “qualifying performance criteria.”
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