THE SHARES ISSUABLE UPON VESTING OF THIS AWARD WILL NOT BE RELEASED TO YOU WITHOUT RESTRICTION UNTIL ALL APPLICABLE MONETARY OBLIGATIONS HAVE BEEN COLLECTED FROM YOU OR HAVE OTHERWISE BEEN PROVIDED FOR VIRCO MFG. CORPORATION RESTRICTED STOCK UNIT...Restricted Stock Unit Award Agreement • June 21st, 2007 • Virco MFG Corporation • Public bldg & related furniture
To encourage your continued service as an employee of Virco Mfg. Corporation (the “Company”), you have been granted this award (the “Award”) of restricted stock units (the “Stock Units”) pursuant to the Company’s 2007 Stock Incentive Plan (the “Plan”) and subject to the terms and conditions set forth in this agreement (this “Agreement”). Each Stock Unit represents the right to receive one Share (as adjusted from time to time pursuant to Section 12 of this Agreement) subject to the fulfillment of the vesting and other conditions set forth in this Agreement.
