Common use of Annual Grants Clause in Contracts

Annual Grants. On each annual anniversary of the Appointment Date, so long as Director is a director on such date, the Company shall issue to Director a number of shares of common stock equal to $40,000 divided by the most recent closing price per share prior to the date of each annual grant, which common stock shall be fully vested upon issuance.

Annual Grants. On each annual anniversary of the Appointment Date, so long as Director is a director on such date, the Company shall issue to Director a number of shares of common stock Common Stock equal to $40,000 divided by the most recent per share closing price per share of the Common Stock on the national securities exchange on which the Common Stock is traded prior to the date of each annual grant, or if the Company is not listed on a national exchange, the fair market value of the Common Stock as determined by the Board in good faith on such date, which common stock Common Stock shall be fully vested upon issuance.

Annual Grants. On each annual anniversary of the Appointment Date, so long as Director is a director on such date, the Company shall issue to Director a number of shares of common stock Common Stock equal to $40,000 60,000 divided by the most recent per share closing price per share of the Common Stock on the national securities exchange on which the Common Stock is traded prior to the date of each annual grant, or if the Company is not listed on a national exchange, the fair market value of the Common Stock as determined by the Board in good faith on such date, which common stock Common Stock shall be fully vested upon issuance.