Common use of Restricted Shares Award Clause in Contracts

Restricted Shares Award. (a) Subject to the terms and conditions of this Agreement, shares of the common stock of the Company, without par value (the “Restricted Shares”) are hereby awarded to the Participant as additional compensation for services as an independent director of the Company. None of the Restricted Shares may be sold, transferred, pledged, hypothecated or otherwise encumbered or disposed or until they have vested in accordance with Section 3 of this Agreement. The Restricted Shares shall be subject to forfeiture as described in Section 4 of this Agreement.

Restricted Shares Award. (a) Subject to the terms and conditions of this Agreement, (___) shares of the common stock of the Company, without par value (the “Restricted Shares”) are hereby awarded to the Participant as additional compensation for services as an independent director employee of the Company. None of the Restricted Shares may be sold, transferred, pledged, hypothecated or otherwise encumbered or disposed or until they have vested in accordance with Section 3 of this Agreement. The Restricted Shares shall be subject to forfeiture as described in Section 4 of this Agreement.

Restricted Shares Award. (a) Subject to the terms and conditions of this Agreement, ( ) shares of the common stock of the Company, without par value (the “Restricted Shares”) are hereby awarded to the Participant as additional compensation for services as an independent director of the Company. None of the Restricted Shares may be sold, transferred, pledged, hypothecated or otherwise encumbered or disposed or until they have vested in accordance with Section 3 of this Agreement. The Restricted Shares shall be subject to forfeiture as described in Section 4 of this Agreement.

Restricted Shares Award. (a) Subject to the terms and conditions of this Agreement, ___ shares of the common stock of the Company, without par value (the “"Restricted Shares”") are hereby awarded to the Participant as additional compensation for services as an independent director of the Company. None of the Restricted Shares may be sold, transferred, pledged, hypothecated or otherwise encumbered or disposed or until they have vested in accordance with Section 3 of this Agreement. The Restricted Shares shall be subject to forfeiture as described in Section 4 of this Agreement.