Restricted Stock Grant. As a member of Employer’s senior management team, Employee will be eligible for annual Restricted Stock Grants pursuant to Anaren’s 2004 Comprehensive Long Term Incentive Plan, as amended (“2004 Plan”) equal in value to 16% of his Base Salary for the respective year. Restrictive Stock Grants will be made annually at the same time other Restricted Stock Grants are made by Anaren to its senior management team, provided Employee is employed with Employer on that date. All Restricted Stock grants issued pursuant to this provision will be subject to the terms of the 2004 Plan, including, but not limited to, a thirty-six (36) month forfeiture provision. Notwithstanding anything to the contrary, in the event Employee employment concludes on or after the expiration of the Period of Employment, Employee shall be entitled if the forfeiture period has not otherwise lapsed only to a pro rata portion of each unvested Restricted Stock Grant based on the number of months employed by Employer from the date of grant to the expiration of the Period of Employment date. In the way of example, if Employee has been employed for 18 months of the 36 month forfeiture period at the end of his Period of Employment, he will receive 50% of the Restricted Shares granted. If Employee remains employed by Employer on a full time basis (30 hours or more per week) after the Period of Employment as an at-will Employee, all previously issued restricted stock shall continue to vest in accordance with the terms of the 2004 Plan.
Restricted Stock Grant. Pursuant to the provisions of the Plan, on , 200 (the “Date of Grant”), the Company granted to Participant, subject to the terms and conditions of the Plan and subject further to the terms and conditions herein set forth, a Stock Award of shares of Common Stock (the “Restricted Stock”).
Restricted Stock Grant. Subject to the terms and conditions set forth in this Agreement and the Plan, the Company hereby grants the Grantee shares of common stock of the Company, subject to the restrictions set forth below and in the Plan (the “Restricted Stock”). Shares of Restricted Stock may not be transferred by the Grantee or subjected to any security interest until the shares have become vested pursuant to this Agreement and the Plan.
Restricted Stock Grant. Subject to the restrictions, terms and conditions of the Plan and this Agreement, the Company hereby awards you the number of shares of Common Stock specified in paragraph 7 below. The shares are subject to certain restrictions as set forth in the Plan and this Agreement. Until vested, the shares are referred to herein as “Restricted Stock.”
Restricted Stock Grant. Subject to the terms and conditions of this Agreement, the Company hereby grants to Grantee the number of shares of Restricted Stock as specified above.
Restricted Stock Grant. Pursuant to the Plan and subject to the terms and conditions of the Plan and this Agreement, the Company hereby grants to the Grantee, and the Grantee accepts, 1,500 shares of Common Stock of the Company (“Restricted Stock”).
Restricted Stock Grant. (a) As compensation for entering into this Agreement, the Company hereby grants and issues to the Executive 3,600,000 shares of the common stock of the Company that is currently traded on the Over The Counter Bulletin Board under the symbol SXLP. The stock is restricted as defined by the Rules and Regulations promulgated under the Securities Act of 1933, as amended. The shares are fully paid and non-assessable.
Restricted Stock Grant. Employee shall be granted 45,000 restricted shares of the Company pursuant to the terms of the 2005 Omnibus Stock Award Plan (including the terms of any Award Agreement executed in connection with such Plan). The restricted shares will vest in accordance with the following schedule, if employee is employed on such date: March 16, 2008 15,000 Restricted Shares March 16, 2009 15,000 Restricted Shares March 16, 2010 15,000 Restricted Shares
Restricted Stock Grant. The Company shall provide Executive with a restricted stock grant (the “Restricted Stock Grant”) of 10,000 shares of the Company’s Common Stock pursuant to a customary restricted stock agreement so long as he remains employed by the Company on April 1, 2005. The Restricted Stock Grant will vest over five years from the date of grant with 20% vesting on the third anniversary of the date of grant, an additional 30% vesting on the fourth anniversary of the date of grant and the balance (50%) vesting on the fifth anniversary of the date of grant.
Restricted Stock Grant. Subject to approval of the Board, Executive will be issued 200,000 shares of the Company's Common Stock (the "RESTRICTED STOCK") at an issue price per share equal to the par value of $0.001 per share of such Common Stock, payable by Executive at the time of issuance, pursuant to the terms of the Company's standard restricted stock purchase agreement (the "PURCHASE AGREEMENT"). In the event Executive's services to the Company terminate for any reason (i) on or prior to the six-month anniversary of the Effective Date, the Company will have the right to repurchase one hundred percent (100%) of the Restricted Stock at the per share par value price paid by Executive, or (ii) after such six-month anniversary but on or prior to the one-year anniversary of the Effective Date, the Company will have the right to repurchase fifty percent (50%) of the Restricted Stock at the per share par value price paid by Executive; provided, however, that if Executive's services to the Company are (1) terminated by the Company without Cause (as defined below) or (2) terminated by Executive for Good Reason (as defined below) or as a result of Constructive Termination (as defined below), during either of the periods described in clause (i) or (ii) above, the Company shall not have the right to repurchase any of the Restricted Stock. The delivery of a stock certificate representing any applicable vested portion of the Restricted Stock following a termination of Executive's services to the Company will be subject to Executive signing and not revoking a separation agreement and release of claims in a form reasonably acceptable to the Company and Executive. No certificate representing such vested shares will be delivered until the separation agreement and release agreement becomes effective.
