RESTRICTED SHARE GRANT NOTICE AND AGREEMENTRestricted Share Grant Notice and Agreement • May 15th, 2015 • Pangaea Logistics Solutions Ltd. • Deep sea foreign transportation of freight
Contract Type FiledMay 15th, 2015 Company IndustryPangaea Logistics Solutions Ltd. (the “Company”), pursuant to its 2014 Share Incentive Plan, as amended from time to time (the “Plan”), hereby grants to Holder the number of Restricted Shares set forth below. The Restricted Shares are subject to all of the terms and conditions as set forth herein, as well as the terms and conditions of the Plan, all of which are incorporated herein in their entirety. Capitalized terms not otherwise defined herein shall have the same meaning as set forth in the Plan. In the event of a conflict or inconsistency between the terms and provisions of the Plan and the provisions of this Restricted Share Grant Notice and Agreement (this “Grant Notice”), the Plan shall govern and control.