Exhibit 10.50
Imagistics International Inc.
Non-Employee Directors' Stock Plan
Award Agreement
This is to certify that you have been granted restricted shares of Imagistics
International Inc. ("the Company") common stock under Imagistics International
Inc. Non-Employee Directors' Stock Plan (the "Directors' Stock Plan"). The
restricted shares are granted in recognition of your efforts and contributions
to the Company. The number of shares of restricted stock, the date of award, and
the vesting schedule associated with the grant are specified on the reverse side
of this Agreement.
Prior to the date on which you become vested in the award, you may not sell,
transfer, assign, pledge or otherwise encumber any of the shares awarded.
However, you will have a right to receive dividends and any other distributions
on your restricted shares, and shall have the right to vote those shares,
whether or not they are then vested. Once a portion of the option has become
vested (i.e., non-forfeitable), the Company will issue certificates and stock
powers for the shares in which you have become vested.
If your service as a director of the Company terminates for any reason prior to
the completion of the vesting period, any unvested shares shall be immediately
forfeited and shall revert to the Company.
This grant is subject in all respects to the detailed terms and conditions of
the Directors' Stock Plan. The plan and programs under which these restricted
shares are granted are subject to future amendment, modification or termination
at any time.
Retention of this Award Agreement will be deemed to be acceptance of the award
evidenced by this Award Agreement. Please do not return this Award Agreement to
the Company.
