0001047469-12-001787 Sample Contracts

RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • February 28th, 2012 • Kbw, Inc. • Security brokers, dealers & flotation companies

THIS AGREEMENT (this "Agreement"), between KBW, Inc., a Delaware corporation (the "Company"), and the employee executing this agreement (the "Employee"), dated as of the Date of Grant (the "Grant Date") in the notice dated February 29, 2012 (the "February 9 Notice") (which notice insofar as it specifies the Date of Grant, Share Price on Grant Date, Number of Shares and Market Value of Grant Date is expressly made a part hereof).

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