Common use of Grant of the Restricted Shares Clause in Contracts

Grant of the Restricted Shares. The Company hereby grants to the Participant a Restricted Share Award consisting of 60,000 shares of the Restricted Shares (hereinafter called the “Restricted Shares”), on the terms and conditions of the Plan and additional the terms and conditions hereinafter set forth. The Restricted Shares shall be vested in accordance with Section 2 of this Agreement and become nonforfeitable. The Participant shall pay the par value of the Restricted Shares, which is $0.01 per share, no later than the sale of the Restricted Shares.

Grant of the Restricted Shares. The Subject to the terms and conditions of the Plan and the additional terms and conditions set forth in this Agreement, the Company hereby grants to the Participant a Restricted Share Stock Award consisting of 60,000 shares twenty thousand four hundred sixty five (20,465) Shares (representing 40% of $275,000 (the Participant's base salary) divided by $5.375, the share value as of the Restricted Shares date of grant) (hereinafter called the “"Restricted Shares”"), on the terms and conditions of the Plan and additional the terms and conditions hereinafter set forth. The Restricted Shares shall be vested vest and become nonforfeitable in accordance with Section 2 of this Agreement and become nonforfeitable. The Participant shall pay the par value of the Restricted Shares, which is $0.01 per share, no later than the sale of the Restricted Shareshereof.

Grant of the Restricted Shares. The Company hereby grants to the Participant a Restricted Share Award consisting of 60,000 2,000,000 shares of the Restricted Shares (hereinafter called the “Restricted Shares”), on the terms and conditions of the Plan and additional the terms and conditions hereinafter set forth. The Restricted Shares shall be vested in accordance with Section 2 of this Agreement and become nonforfeitable. The Participant shall pay the par value of the Restricted Shares, which is $0.01 per share, no later than the sale of the Restricted Shares.

Grant of the Restricted Shares. The Company hereby grants to the Participant a Restricted Share Award consisting of 60,000 4,000,000 shares of the Restricted Shares (hereinafter called the “Restricted Shares”), on the terms and conditions of the Plan and additional the terms and conditions hereinafter set forth. The Restricted Shares shall be vested in accordance with Section 2 of this Agreement and become nonforfeitable. The Participant shall pay the par value of the Restricted Shares, which is $0.01 per share, no later than the sale of the Restricted Shares.