Common use of Escrow of Restricted Stock Clause in Contracts

Escrow of Restricted Stock. To secure the availability for delivery of the Grantee’s Restricted Stock, the shares shall be held in electronic form in an account by the Company’s transfer agent or other designee until the Restricted Period (as defined below) has lapsed with respect to the shares of Restricted Stock, or until such time as this Agreement no longer is in effect. In the event the Plan Administrator elects not to hold the shares in electronic form, the Grantee hereby appoints the Secretary of the Company, or any other person designated by the Company as escrow agent, as its attorney-in-fact to assign and transfer unto the Company such Restricted Stock, if any, forfeited by the Grantee pursuant to Section 5 below and shall, upon execution of this Agreement, deliver and deposit with the Secretary of the Company, or such other person designated by the Company, the share certificates representing the Restricted Stock, together with the stock assignment provided by the Company duly endorsed in blank. The Restricted Stock and stock assignment shall be held by the Secretary in escrow until the Restricted Period (as defined below) has lapsed with respect to the shares of Restricted Stock, or until such time as this Agreement no longer is in effect.

Escrow of Restricted Stock. To secure the availability for delivery of the Grantee’s Restricted Stock, the shares shall be held in electronic form in an account by the Company’s transfer agent or other designee until the Restricted Period (as defined below) has lapsed with respect to the shares of Restricted Stock, or until such time as this Agreement no longer is in effect. In the event the Plan Administrator elects not to hold the shares in electronic form, the Grantee hereby appoints the Secretary Treasurer of the Company, or any other person designated by the Company as escrow agent, as its attorney-in-fact to assign and transfer unto the Company such Restricted Stock, if any, forfeited by the Grantee pursuant to Section 5 4 below and shall, upon execution of this Agreement, deliver and deposit with the Secretary Treasurer of the Company, or such other person designated by the Company, the share certificates representing the Restricted Stock, together with the stock assignment provided by the Company duly endorsed in blank, attached hereto as Exhibit A (or alternatively, have the shares held in electronic form in an account by the Company’s transfer agent or other designee, subject to the restrictions). The Restricted Stock and stock assignment shall be held by the Secretary Treasurer in escrow (or the shares held by the Company’s stock transfer agent or other designee shall be held) until the Restricted Period (as defined below) has lapsed with respect to the shares of Restricted Stock, or until such time as this Agreement no longer is in effect.

Escrow of Restricted Stock. To secure the availability for delivery of the Grantee’s Restricted Stock, the shares shall be held in electronic form in an account by the Company’s transfer agent or other designee until the Restricted Period (as defined below) has lapsed with respect to the shares of Restricted Stock, or until such time as this Agreement no longer is in effect. In the event the Plan Administrator elects not to hold the shares in electronic form, the Grantee hereby appoints the Secretary Treasurer of the Company, or any other person designated by the Company as escrow agent, as its attorney-in-fact to assign and transfer unto the Company such Restricted Stock, if any, forfeited by the Grantee pursuant to Section 5 4 below and shall, upon execution of this Agreement, deliver and deposit with the Secretary Treasurer of the Company, or such other person designated by the Company, the share certificates representing the Restricted Stock, together with the stock assignment provided by the Company duly endorsed in blank, attached hereto as Exhibit A (or alternatively, have the shares held in electronic form in an account by the Company’s transfer agent or other designee, subject to the restrictions). The Restricted Stock and stock assignment shall be held by the Secretary Treasurer in escrow escrow(or the shares held by the Company’s stock transfer agent or other designees shall be held) until the Restricted Period (as defined below) has lapsed with respect to the shares of Restricted Stock, or until such time as this Agreement is no longer is in effect.