Common use of Equity Signing Bonus Clause in Contracts

Equity Signing Bonus. 4.3.1. On or promptly after the Effective Date, the Company shall award Executive an initial restricted stock bonus of a number of Company common shares equal to .5 percent of the Company's outstanding equity as of the Effective Date (the "Initial Grant") which shall be granted and conditioned upon the Executive executing a restricted stock agreement with terms and conditions consistent with this section 4.3 (such date of grant referred to hereinafter as the "Grant Date"). Twenty-five (25) percent of the Initial Grant shall be fully vested on the date of Grant Date. The remaining shares of the Initial Grant shall vest ratably on the first through third anniversaries of the Grant Date. The non-vested portion of the Initial Grant shall become fully vested in the event the Executive is terminated (i) by the Company without Cause (as defined below), (ii) by the Executive for "Good Reason" as defined below, (iii) as a result of the Death or Disability of the Executive, and (iv) in the event of a Change of Control. In the event the Executive voluntarily terminates his employment or is terminated for Cause, the non-vested portion of the Initial Grant shall be forfeited. Such shares shall be restricted so that no share may be transferred or alienated in any way (except as provided in Section 4.3.2 below and through passage under will or by the laws of descent and distribution upon the Executive's death) until the shares are vested, at which time the restriction will lapse with respect to the vested shares.

Equity Signing Bonus. 4.3.1. On or promptly after the Effective Date, the Company shall award Executive an initial restricted stock bonus of a number of Company common shares equal to .5 2.0 percent of the Company's outstanding equity as of the Effective Date (the "Initial Grant") which shall be granted and conditioned upon the Executive executing a restricted stock agreement with terms and conditions consistent with this section 4.3 (such date of grant referred to hereinafter as the "Grant Date"). Twenty-five (25) percent of the Initial Grant shall be fully vested on the date of Grant Date. The remaining shares of the Initial Grant shall vest ratably on the first through third anniversaries of the Grant Date. The non-vested portion of the Initial Grant shall become fully vested in the event the Executive is terminated (i) by the Company without Cause (as defined below), (ii) by the Executive for "Good Reason" as defined below, (iii) as a result of the Death or Disability of the Executive, and (iv) in the event of a Change of Control. In the event the Executive voluntarily terminates his employment or is terminated for Cause, the non-vested portion of the Initial Grant shall be forfeited. Such shares shall be restricted so that no share may be transferred or alienated in any way (except as provided in Section 4.3.2 below and through passage under will or by the laws of descent and distribution upon the Executive's death) until the shares are vested, at which time the restriction will lapse with respect to the vested shares.

Equity Signing Bonus. 4.3.1. On or promptly after the Effective Date, the Company shall award Executive an initial restricted stock bonus of a number of Company common shares equal to .5 1.5 percent of the Company's outstanding equity as of the Effective Date (the "Initial Grant") which shall be granted and conditioned upon the Executive executing a restricted stock agreement with terms and conditions consistent with this section 4.3 (such date of grant referred to hereinafter as the "Grant Date"). Twenty-five (25) percent of the Initial Grant shall be fully vested on the date of Grant Date. The remaining shares of the Initial Grant shall vest ratably on the first through third anniversaries of the Grant Date. The non-vested portion of the Initial Grant shall become fully vested in the event the Executive is terminated (i) by the Company without Cause (as defined below), (ii) by the Executive for "Good Reason" as defined below, (iii) as a result of the Death or Disability of the Executive, and (iv) in the event of a Change of Control. In the event the Executive voluntarily terminates his employment or is terminated for Cause, the non-vested portion of the Initial Grant shall be forfeited. Such shares shall be restricted so that no share may be transferred or alienated in any way (except as provided in Section 4.3.2 below and through passage under will or by the laws of descent and distribution upon the Executive's death) until the shares are vested, at which time the restriction will lapse with respect to the vested shares.