MOLX » Topics » Restricted Stock

This excerpt taken from the MOLX DEF 14A filed Sep 12, 2008.
Restricted Stock
Restricted stock may be granted alone or in addition to other awards. The SIP provides that the respective committee may grant shares of restricted stock and determine the vesting period and number of shares of restricted stock for each award. Restricted stock may not be sold, transferred or otherwise disposed of by participants, and may be forfeited in the event of termination of employment or service, prior to vesting. Upon vesting, the restricted stock is distributed to the participant.
Accelerated vesting of restricted stock occurs in the event of death, disability, retirement or involuntary termination, as defined in the SIP. Unvested restricted stock will be cancelled immediately upon a termination of employment or service other than for death, disability, retirement, or involuntary termination. Restricted stock becomes freely transferable once it has vested and has been distributed to a participant.
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