Common use of Evidence of Ownership of the Awarded Shares Clause in Contracts

Evidence of Ownership of the Awarded Shares. (a) Prior to the date that the Awarded Shares vest pursuant to Section 2 above, Calavo shall not deliver to the Director a stock certificate evidencing the Awarded Shares and Calavo shall not otherwise deposit the Awarded Shares into a brokerage or other account for the benefit of the Director. However, Calavo shall take necessary or appropriate actions to ensure that Calavo’s transfer agent recognizes the Director as the owner of the Awarded Shares for purposes of the dividend and voting rights described below in Section 4.

Evidence of Ownership of the Awarded Shares. (a) Prior to the date that the Awarded Shares vest pursuant to Section 2 above, Calavo shall not deliver to the Director Officer a stock certificate evidencing the unvested, Awarded Shares and Calavo shall not otherwise deposit the unvested, Awarded Shares into a brokerage or other account for the benefit of the DirectorOfficer. However, Calavo shall take necessary or appropriate actions to ensure that Calavo’s transfer agent recognizes the Director Officer as the owner of the Awarded Shares for purposes of the dividend and voting rights described below in Section 4.