Common use of Mandatory Suspension and Cancellation of Stock Clause in Contracts

Mandatory Suspension and Cancellation of Stock. In the event Tungsten reasonably believes Director has committed an act of misconduct including, but limited to acts specified below, Tungsten may suspend Director's right in his Restricted Stock Award granted hereunder pending final determination by the Board of Directors of the Company (the "Board"). If Director is determined by the Board to have: (a) committed an act of embezzlement, fraud, dishonesty, breach of fiduciary duty to Tungsten or a subsidiary; (b) deliberately disregarded the rules or policies of Tungsten or a subsidiary which resulted in loss, damage or injury to Tungsten or a subsidiary; (c) made any unauthorized disclosure of any trade secret or confidential information of Tungsten or a subsidiary; (d) induced any partner, collaborator, client or customer of Tungsten or a subsidiary to break any contract with Tungsten or a subsidiary or induced any principal for whom Tungsten or a subsidiary acts as agent to terminate such agency relations; (e) engaged in any substantial conduct which constitutes unfair competition with Tungsten or a subsidiary; or (f) violated any requirement of the Foreign Corrupt Practices Act or any analogous foreign regulations, neither Director nor Director's estate shall be entitled to shares of the Restricted Stock hereunder. The determination of the Board shall be final and conclusive. In making its determination, the Board shall give the Director an opportunity to appear and be heard at a hearing before the full Board and present evidence on Director's behalf.

Mandatory Suspension and Cancellation of Stock. In the event Tungsten IROG reasonably believes Director has committed an act of misconduct including, but limited to acts specified below, Tungsten IROG may suspend Director's ’s right in his Restricted Stock Award granted hereunder pending final determination by the Board of Directors of the Company (the "“Board"”). If Director is determined by the Board to have: (a) committed an act of embezzlement, fraud, dishonesty, breach of fiduciary duty to Tungsten IROG or a subsidiary; (b) deliberately disregarded the rules or policies of Tungsten IROG or a subsidiary which resulted in loss, damage or injury to Tungsten IROG or a subsidiary; (c) made any unauthorized disclosure of any trade secret or confidential information of Tungsten IROG or a subsidiary; (d) induced any partner, collaborator, client or customer of Tungsten IROG or a subsidiary to break any contract with Tungsten IROG or a subsidiary or induced any principal for whom Tungsten IROG or a subsidiary acts as agent to terminate such agency relations; (e) engaged in any substantial conduct which constitutes unfair competition with Tungsten IROG or a subsidiary; or (f) violated any requirement of the Foreign Corrupt Practices Act or any analogous foreign regulations, neither Director nor Director's ’s estate shall be entitled to shares of the Restricted Stock hereunder. The determination of the Board shall be final and conclusive. In making its determination, the Board shall give the Director an opportunity to appear and be heard at a hearing before the full Board and present evidence on Director's ’s behalf.

Mandatory Suspension and Cancellation of Stock. In the event Tungsten the Company reasonably believes Director has committed an act of misconduct including, but limited to acts specified below, Tungsten the Company may suspend Director's ’s right in his Restricted Stock Award granted hereunder pending final determination by the Board of Directors of the Company (the "“Board"”). If Director is determined by the Board to have: (a) committed an act of embezzlement, fraud, dishonesty, breach of fiduciary duty to Tungsten the Company or a subsidiary; (b) deliberately disregarded the rules or policies of Tungsten the Company or a subsidiary which resulted in loss, damage or injury to Tungsten the Company or a subsidiary; (c) made any unauthorized disclosure of any trade secret or confidential information of Tungsten the Company or a subsidiary; (d) induced any partner, collaborator, client or customer of Tungsten the Company or a subsidiary to break any contract with Tungsten the Company or a subsidiary or induced any principal for whom Tungsten the Company or a subsidiary acts as agent to terminate such agency relations; (e) engaged in any substantial conduct which constitutes unfair competition with Tungsten the Company or a subsidiary; or (f) violated any requirement of the Foreign Corrupt Practices Act or any analogous foreign regulations, neither Director nor Director's ’s estate shall be entitled to shares of the Restricted Stock hereunder. The determination of the Board shall be final and conclusive. In making its determination, the Board shall give the Director an opportunity to appear and be heard at a hearing before the full Board and present evidence on Director's ’s behalf.