Common use of Vesting; Termination of Restricted Period Clause in Contracts

Vesting; Termination of Restricted Period. i) The shares of Restricted Stock shall no longer be subject to the forfeiture provisions of Section 2(c) (i.e., the shares shall vest), based on the following schedule, provided that the Grantee has continued a relationship with the Company through such vesting date: (1) 50,000 shares of Restricted Stock will vest on March 31, 2009; (2) 50,000 shares of Restricted Stock will vest on June 30, 2009; (3) 50,000 shares of Restricted Stock will vest on September 30, 2009; (4) 50,000 shares of Restricted Stock will vest on December 31, 2009. ii) In the event that the shares of Restricted Stock have not vested in full and have not been forfeited pursuant to Section 2(c), any unvested shares of Restricted Stock will be deemed to have been vested in full on the date that: (1) there is a Change in Control. For the purposes of this Agreement, a “Change of Control” means, with respect to the Company (x) a sale, lease, exchange or other transfer, of all or substantially all of the Company’s assets, (y) a merger in which the Company is not the surviving entity (other than a transaction whereby the stockholders of the Company before such transaction are in control of the Company after the transaction), or (z) a sale of all or substantially all of the Company’s then outstanding voting stock, in all such cases in one or a series of related transactions;

Vesting; Termination of Restricted Period. i) The shares of Restricted Stock shall no longer be subject to the forfeiture provisions of Section 2(c) (i.e., the shares shall vest), based on the following schedule, provided that the Grantee has continued a relationship with the Company through such vesting date: (1) 50,000 shares of Restricted Stock will vest immediately upon execution of this Agreement by the parties hereto; (2) shares of Restricted Stock will vest on March 31, 20092012; (23) 50,000 shares of Restricted Stock will vest on June 30, 200920012; (34) 50,000 shares of Restricted Stock will vest on September 30, 20092012; (45) 50,000 shares of Restricted Stock will vest on December 31, 2009.2012; ii) In the event that the shares of Restricted Stock have not vested in full and have not been forfeited pursuant to Section 2(c), any unvested shares of Restricted Stock will be deemed to have been vested in full on the date that: (1) there is a Change in Control. For the purposes of this Agreement, a “Change of Control” means, with respect to the Company (x) a sale, lease, exchange or other transfer, of all or substantially all of the Company’s assets, (y) a merger in which the Company is not the surviving entity (other than a transaction whereby the stockholders of the Company before such transaction are in control of the Company after the transaction), or (z) a sale of all or substantially all of the Company’s then outstanding voting stock, in all such cases in one or a series of related transactions;

Vesting; Termination of Restricted Period. i) The shares of Restricted Stock shall no longer be subject to the forfeiture provisions of Section 2(c) (i.e., the shares shall vest), based on the following schedule, provided that the Grantee has continued a relationship with the Company through such vesting date: (1) 50,000 30,000 shares of Restricted Stock will vest on March 31, 2009; (2) 50,000 30,000 shares of Restricted Stock will vest on June 30, 2009; (3) 50,000 30,000 shares of Restricted Stock will vest on September 30, 2009; (4) 50,000 30,000 shares of Restricted Stock will vest on December 31, 2009.; ii) In the event that the shares of Restricted Stock have not vested in full and have not been forfeited pursuant to Section 2(c), any unvested shares of Restricted Stock will be deemed to have been vested in full on the date that: (1) there is a Change in Control. For the purposes of this Agreement, a “Change of Control” means, with respect to the Company (x) a sale, lease, exchange or other transfer, of all or substantially all of the Company’s assets, (y) a merger in which the Company is not the surviving entity (other than a transaction whereby the stockholders of the Company before such transaction are in control of the Company after the transaction), or (z) a sale of all or substantially all of the Company’s then outstanding voting stock, in all such cases in one or a series of related transactions;

Vesting; Termination of Restricted Period. i) The shares of Restricted Stock shall no longer be subject to the forfeiture provisions of Section 2(c) (i.e., the shares shall vest), based on the following schedule, provided that the Grantee has continued a relationship with the Company through such vesting date: (1) 50,000 shares of Restricted Stock will vest on March 31, 2009; (2) 50,000 shares of Restricted Stock will vest on June 30, 2009; (3) 50,000 shares of Restricted Stock will vest on September 30, 2009; (4) 50,000 shares of Restricted Stock will vest on December 31, 2009.; ii) In the event that the shares of Restricted Stock have not vested in full and have not been forfeited pursuant to Section 2(c), any unvested shares of Restricted Stock will be deemed to have been vested in full on the date that: (1) there is a Change in Control. For the purposes of this Agreement, a “Change of Control” means, with respect to the Company (x) a sale, lease, exchange or other transfer, of all or substantially all of the Company’s assets, (y) a merger in which the Company is not the surviving entity (other than a transaction whereby the stockholders of the Company before such transaction are in control of the Company after the transaction), or (z) a sale of all or substantially all of the Company’s then outstanding voting stock, in all such cases in one or a series of related transactions;

Vesting; Termination of Restricted Period. i) The shares of Restricted Stock shall no longer be subject to the forfeiture provisions of Section 2(c) (i.e., the shares shall vest), based on the following schedule, provided that the Grantee has continued a relationship with the Company through such vesting date: (1) 50,000 30,000 shares of Restricted Stock will vest on March 31, 2009; (2) 50,000 30,000 shares of Restricted Stock will vest on June 30, 2009; (3) 50,000 30,000 shares of Restricted Stock will vest on September 30, 2009; (4) 50,000 30,000 shares of Restricted Stock will vest on December 31, 2009;. ii) In the event that the shares of Restricted Stock have not vested in full and have not been forfeited pursuant to Section 2(c), any unvested shares of Restricted Stock will be deemed to have been vested in full on the date that: (1) there is a Change in Control. For the purposes of this Agreement, a “Change of Control” means, with respect to the Company (x) a sale, lease, exchange or other transfer, of all or substantially all of the Company’s assets, (y) a merger in which the Company is not the surviving entity (other than a transaction whereby the stockholders of the Company before such transaction are in control of the Company after the transaction), or (z) a sale of all or substantially all of the Company’s then outstanding voting stock, in all such cases in one or a series of related transactions;

Vesting; Termination of Restricted Period. i) The shares of Restricted Stock shall no longer be subject to the forfeiture provisions of Section 2(c) (i.e., the shares shall vest), based on the following schedule, provided that the Grantee has continued a relationship with the Company through such vesting date: (1) 50,000 25,000 shares of Restricted Stock will vest on March 31, 2009; (2) 50,000 25,000 shares of Restricted Stock will vest on June 30, 2009; (3) 50,000 25,000 shares of Restricted Stock will vest on September 30, 2009; (4) 50,000 25,000 shares of Restricted Stock will vest on December 31, 2009.; ii) In the event that the shares of Restricted Stock have not vested in full and have not been forfeited pursuant to Section 2(c), any unvested shares of Restricted Stock will be deemed to have been vested in full on the date that: (1) there is a Change in Control. For the purposes of this Agreement, a “Change of Control” means, with respect to the Company (x) a sale, lease, exchange or other transfer, of all or substantially all of the Company’s assets, (y) a merger in which the Company is not the surviving entity (other than a transaction whereby the stockholders of the Company before such transaction are in control of the Company after the transaction), or (z) a sale of all or substantially all of the Company’s then outstanding voting stock, in all such cases in one or a series of related transactions;