Common use of Initial Restricted Stock Grant Clause in Contracts

Initial Restricted Stock Grant. Subject to Executive’s compliance with Section 3(e) below, upon the Effective Date, Executive shall be awarded a one time grant (the “Initial Restricted Stock Grant”) of 150 shares of Common Stock, which is the number of shares equal to $150,000 divided by $1,000.00 per share (“Per Share Price”). The Initial Restricted Stock Grant shall vest as follows: (i) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the third anniversary of the Effective Date; (ii) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the fourth anniversary of the Effective Date and (iii) the remaining one-third (1/3) of the shares subject to the initial Restricted Stock Grant on the fifth anniversary of the Effective Date. Executive shall receive dividends on unvested shares to the extent such dividends are paid and such shares have not been forfeited. In the event the Executive is terminated with Cause, he shall forfeit (x) all unvested shares subject to the Initial Restricted Stock Grant and, (y) in the case of a termination based on clause (ii) of the definition of Cause, all vested shares granted under any Restricted Stock Grant. The provisions of this Section 3(d) shall be set forth in a management stockholder agreement containing customary restrictions and terms, including but not limited to restrictions on transferability, tag-along rights plus repurchase rights, all of which shall survive any expiration of the Term of this Agreement.

Initial Restricted Stock Grant. Subject to Executive’s compliance with Section 3(e) below, upon the Effective Date, Executive shall be awarded a one time grant (the “Initial Restricted Stock Grant”) of 150 shares of Common Stock, which is the number of shares equal to $150,000 divided by $1,000.00 per share (“Per Share Price”). The Initial Restricted Stock Grant shall vest as follows: (i) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the third anniversary of the Effective Date; (ii) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the fourth anniversary of the Effective Date and (iii) the remaining one-third (1/3) of the shares subject to the initial Initial Restricted Stock Grant on the fifth anniversary of the Effective Date. Executive shall receive dividends on unvested shares to the extent such dividends are paid and such shares have not been forfeited. In the event the Executive is terminated with Cause, he shall forfeit (x) all unvested shares subject to the Initial Restricted Stock Grant and, (y) in the case of a termination based on clause (ii) of the definition of Cause, all vested shares granted under any Restricted Stock Grant. The provisions of this Section 3(d) shall be set forth in a management stockholder agreement containing customary restrictions and terms, including but not limited to restrictions on transferability, drag-along rights, tag-along rights plus repurchase rights, all of which shall survive any expiration of the Term of this Agreement.

Initial Restricted Stock Grant. Subject to Executive’s compliance with Section 3(e) below, upon the Effective Date, Executive shall be awarded a one time grant (the “Initial Restricted Stock Grant”) of 150 1,500 shares of Common Stock, which is the number of shares equal to $150,000 1,500,000 divided by $1,000.00 per share (“Per Share Price”). The Initial Restricted Stock Grant shall vest as follows: (i) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the third anniversary of the Effective Date; (ii) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the fourth anniversary of the Effective Date and (iii) the remaining one-third (1/3) of the shares subject to the initial Initial Restricted Stock Grant on the fifth anniversary of the Effective Date. Executive shall receive dividends on unvested shares to the extent such dividends are paid and such shares have not been forfeited. In the event the Executive is terminated with Cause, he shall forfeit (x) all unvested shares subject to the Initial Restricted Stock Grant and, (y) in the case of a termination based on clause (ii) of the definition of Cause, all vested shares granted under any Restricted Stock Grant. The provisions of this Section 3(d3(c) shall be set forth in a management stockholder agreement containing customary restrictions and terms, including but not limited to restrictions on transferability, drag-along rights, tag-along rights plus and repurchase rights, all of which shall survive any expiration of the Term of this Agreement.

Initial Restricted Stock Grant. Subject to Executive’s compliance with Section 3(e) below, upon the Effective Date, Executive shall be awarded a one time grant (the “Initial Restricted Stock Grant”) of 150 3,000 shares of Common Stock, which is the number of shares equal to $150,000 3,000,000 divided by $1,000.00 per share (“Per Share Price”). The Initial Restricted Stock Grant shall vest as follows: (i) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the third anniversary of the Effective Date; (ii) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the fourth anniversary of the Effective Date and (iii) the remaining one-third (1/3) of the shares subject to the initial Initial Restricted Stock Grant on the fifth anniversary of the Effective Date. Executive shall receive dividends on unvested shares to the extent such dividends are paid and such shares have not been forfeited. In the event the Executive is terminated with Cause, he shall forfeit (x) all unvested shares subject to the Initial Restricted Stock Grant and, (y) in the case of a termination based on clause (ii) of the definition of Cause, all vested shares granted under any Restricted Stock Grant. The provisions of this Section 3(d) shall be set forth in a management stockholder agreement containing customary restrictions and terms, including but not limited to restrictions on transferability, drag-along rights, tag-along rights plus repurchase rights, all of which shall survive any expiration of the Term of this Agreement.

Initial Restricted Stock Grant. Subject to Executive’s compliance with Section 3(e) below, upon the Effective Date, Executive shall be awarded a one time grant (the “Initial Restricted Stock Grant”) of 150 900 shares of Common Stock, which is the number of shares equal to $150,000 900,000 divided by $1,000.00 per share (“Per Share Price”). The Initial Restricted Stock Grant shall vest as follows: (i) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the third anniversary of the Effective Date; (ii) one-third (1/3) of the shares subject to the Initial Restricted Stock Grant on the fourth anniversary of the Effective Date and (iii) the remaining one-third (1/3) of the shares subject to the initial Initial Restricted Stock Grant on the fifth anniversary of the Effective Date. Executive shall receive dividends on unvested shares to the extent such dividends are paid and such shares have not been forfeited. In the event the Executive is terminated with Cause, he shall forfeit (x) all unvested shares subject to the Initial Restricted Stock Grant and, (y) in the case of a termination based on clause (ii) of the definition of Cause, all vested shares granted under any Restricted Stock Grant. The provisions of this Section 3(d3(c) shall be set forth in a management stockholder agreement containing customary restrictions and terms, including but not limited to restrictions on transferability, drag-along rights, tag-along rights plus and repurchase rights, all of which shall survive any expiration of the Term of this Agreement.