Common use of Stock Grant Clause in Contracts

Stock Grant. Promptly following execution and delivery of this Agreement and completion of all applicable registration and listing requirements, and upon Executive's payment to the Parent of the $.01 per share par value thereof, the Parent shall issue to the Executive 12,500 shares of Stock. Unless registered pursuant to applicable federal and state securities laws, such Stock shall bear a customary legend restricting transferability.

Stock Grant. Promptly following execution and delivery of this Agreement and completion of all applicable registration and listing requirements, and upon Executive's payment to the Parent of the $.01 per share par value thereof, the Parent shall issue to the Executive 12,500 100,000 shares of Stock. Unless registered pursuant to applicable federal and state securities laws, such Stock shall bear a customary legend restricting transferability.