MLP » Topics » provided, however,

These excerpts taken from the MLP 10-Q filed Aug 8, 2006.
provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such dividends or other distributions shall also be subject to the restrictions set forth in this Agreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Forfeiture Restriction.
 
4.2           Notice of Forfeited Shares; Transfer of Forfeited Shares. The Committee shall provide written notice to Holder of whether any of the Shares were permanently forfeited for each calendar year during the Performance Period. Such notice shall be provided as soon as administratively practicable after audited financial statements are available for such calendar year. Holder hereby authorizes and directs the Secretary of the Company, or such other person designated by the Board, to transfer the Unreleased Shares which have been forfeited by Holder immediately to the Company.
 
4.3           No Liability for Actions in Connection with Escrow. The Company, or its designee, shall not be liable for any act it may do or omit to do with respect to holding the Shares in escrow while acting in good faith and in the exercise of its judgment.
 
provided, however, that the escrow agent shall nevertheless retain such certificate or certificates as escrow agent if so required pursuant to other restrictions imposed pursuant to this Agreement. If the Shares are held in book entry form, then such entry will reflect that the Shares are subject to the restrictions of this Agreement. If any dividends or other distributions are paid on the Unreleased Shares held by the escrow agent pursuant to this Section 4.1 and the Joint Escrow Instructions, such dividends or other distributions shall also be subject to the restrictions set forth in this Agreement and held in escrow pending release of the Unreleased Shares with respect to which such dividends or other distributions were paid from the Forfeiture Restriction.
 
4.2           Notice of Forfeited Shares; Transfer of Forfeited Shares. The Committee shall provide written notice to Holder of whether any of the Shares were permanently forfeited for each calendar year during the Performance Period. Such notice shall be provided as soon as administratively practicable after audited financial statements are available for such calendar year. Holder hereby authorizes and directs the Secretary of the Company, or such other person designated by the Board, to transfer the Unreleased Shares which have been forfeited by Holder immediately to the Company.
 
4.3           No Liability for Actions in Connection with Escrow. The Company, or its designee, shall not be liable for any act it may do or omit to do with respect to holding the Shares in escrow while acting in good faith and in the exercise of its judgment.
 

EXCERPTS ON THIS PAGE:

10-Q (2 sections)
Aug 8, 2006
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