Common use of IPO Stock Award Clause in Contracts

IPO Stock Award. Pursuant to the 2010 Equity Incentive Plan, a Stock Award (as defined therein) of the Company’s common stock (the “IPO Stock Award”) shall be granted to the Executive on the Effective Date, and the same shall be fully vested upon grant. The number of shares of common stock granted to the Executive in the IPO Stock Award shall be calculated as the product of X and Y, where X is 1.6% of the sum of (i) the total number of shares issued by the Company in the Initial Offering (the “IPO Shares”), and (ii) all shares issued in connection with the Company’s private placement of additional shares of common stock to the Company’s officers concurrently with the Initial Offering (the “Private Placement Shares” and, together with the IPO Shares, the “Total Offering”), rounded to the nearest 1,000, and where Y is (the following percentage): 7%. In addition, in the event any shares of common stock are issued as a result of any exercise by the Initial Offering underwriters of their over-allotment option (the “Underwriters’ Over-allotment Shares”), the number of shares granted to the Executive in the IPO Stock Award will be adjusted, as of the Effective Date, to include additional shares in an amount equal to the product of (i) 1.6% of the Underwriters’ Over-allotment Shares issued and (ii) 7%. By way of example, if the Total Offering is 13,900,000 shares (including 13,750,000 IPO Shares, 150,000 Private Placement Shares and no Underwriters’ Over-allotment Shares), then the IPO Award shall be 15,568 shares of the Company’s common stock.

IPO Stock Award. Pursuant to the 2010 Equity Incentive Plan, a Stock Award (as defined therein) of the Company’s common stock (the “IPO Stock Award”) shall be granted to the Executive on the Effective Date, and the same shall be fully vested upon grant. The number of shares of common stock granted to the Executive in the IPO Stock Award shall be calculated as the product of X and Y, where X is 1.6% of the sum of (i) the total number of shares issued by the Company in the Initial Offering (the “IPO Shares”), and (ii) all shares issued in connection with the Company’s private placement of additional shares of common stock to the Company’s officers concurrently with the Initial Offering (the “Private Placement Shares” and, together with the IPO Shares, the “Total Offering”), rounded to the nearest 1,000, and where Y is (the following percentage): 79%. In addition, in the event any shares of common stock are issued as a result of any exercise by the Initial Offering underwriters of their over-allotment option (the “Underwriters’ Over-allotment Shares”), the number of shares granted to the Executive in the IPO Stock Award will be adjusted, as of the Effective Date, to include additional shares in an amount equal to the product of (i) 1.6% of the Underwriters’ Over-allotment Shares issued issued, and (ii) 79%. By way of example, if the Total Offering is 13,900,000 shares (including 13,750,000 IPO Shares, 150,000 Private Placement Shares and no Underwriters’ Over-allotment Shares), then the IPO Award shall be 15,568 20,016 shares of the Company’s common stock.

IPO Stock Award. Pursuant to the 2010 Equity Incentive Plan, a Stock Award (as defined therein) of the Company’s common stock (the “IPO Stock Award”) shall be granted to the Executive on the Effective Date, and the same shall be fully vested upon grant. The number of shares of common stock granted to the Executive in the IPO Stock Award shall be calculated as the product of X and Y, where X is 1.6% of the sum of (i) the total number of shares issued by the Company in the Initial Offering (the “IPO Shares”), and (ii) all shares issued in connection with the Company’s private placement of additional shares of common stock to the Company’s officers concurrently with the Initial Offering (the “Private Placement Shares” and, together with the IPO Shares, the “Total Offering”), rounded to the nearest 1,000, and where Y is (the following percentage): 765%. In addition, in the event any shares of common stock are issued as a result of any exercise by the Initial Offering underwriters of their over-allotment option (the “Underwriters’ Over-allotment Shares”), the number of shares granted to the Executive in the IPO Stock Award will be adjusted, as of the Effective Date, to include additional shares in an amount equal to the product of (i) 1.6% of the Underwriters’ Over-allotment Shares issued and (ii) 765%. By way of example, if the Total Offering is 13,900,000 shares (including 13,750,000 IPO Shares, 150,000 Private Placement Shares and no Underwriters’ Over-allotment Shares), then the IPO Award shall be 15,568 144,560 shares of the Company’s common stock.

IPO Stock Award. Pursuant to the 2010 Equity Incentive Plan, a Stock Award (as defined therein) of the Company’s common stock (the “IPO Stock Award”) shall be granted to the Executive on the Effective Date, and the same shall be fully vested upon grant. The number of shares of common stock granted to the Executive in the IPO Stock Award shall be calculated as the product of X and Y, where X is 1.6% of the sum of (i) the total number of shares issued by the Company in the Initial Offering (the “IPO Shares”), and (ii) all shares issued in connection with the Company’s private placement of additional shares of common stock to the Company’s officers concurrently with the Initial Offering (the “Private Placement Shares” and, together with the IPO Shares, the “Total Offering”), rounded to the nearest 1,000, and where Y is (the following percentage): 712%. In addition, in the event any shares of common stock are issued as a result of any exercise by the Initial Offering underwriters of their over-allotment option (the “Underwriters’ Over-allotment Shares”), the number of shares granted to the Executive in the IPO Stock Award will be adjusted, as of the Effective Date, to include additional shares in an amount equal to the product of (i) 1.6% of the Underwriters’ Over-allotment Shares issued and (ii) 712%. By way of example, if the Total Offering is 13,900,000 shares (including 13,750,000 IPO Shares, 150,000 Private Placement Shares and no Underwriters’ Over-allotment Shares), then the IPO Award shall be 15,568 26,688 shares of the Company’s common stock.