(1) In this section -
'director' and 'employee' have the meanings, respectively, given to them by section 770(1);
'EEA Agreement' means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by all subsequent amendments to that Agreement;
'EEA state' means a state, other than the State, which is a Contracting Party to the EEA Agreement;
'employer' means the company in which the director or employee holds his or her office or employment;
'market value' shall be construed in accordance with section 548;
'restricted shares' shall be construed in accordance with subsection (3);
'shares' includes stock;
'specified period' has the same meaning as in subsection (3)(a);
'trust' means a trust established in the State or in an EEA state or in the United Kingdom and the trustees of which are resident in the State or in an EEA state or in the United Kingdom.
(2) Subject to subsection (7), this section applies where -
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