Common use of Receipt and Delivery of Stock Clause in Contracts

Receipt and Delivery of Stock. The Grantee waives receipt from the Company of a certificate or certificates representing the shares of Common Stock granted hereunder, registered in his name and bearing a legend evidencing the restrictions imposed on such Common Stock by this agreement. The Grantee acknowledges and agrees that the Company shall retain custody of such certificate or certificates until the restrictions imposed by Paragraph 3 on the Common Stock granted hereunder lapse. Concurrently with the execution of this agreement, the Grantee has delivered to the Company an irrevocable stock power endorsed in blank.

Receipt and Delivery of Stock. The Grantee waives receipt from the Company of a certificate or certificates representing the shares of Common Stock granted hereunder, registered in his the Grantee's name and bearing a legend evidencing the restrictions imposed on such Common Stock by this agreementAgreement. The Grantee acknowledges and agrees that the Company shall retain custody of such certificate or certificates until the restrictions imposed by Paragraph 3 Section 2 on the Common Stock granted hereunder lapse. Concurrently with the execution of this agreementAgreement, the Grantee has delivered to the Company an irrevocable stock power endorsed in blank.