Common use of Founder's Stock Clause in Contracts

Founder's Stock. Subject to the approval of the 2004 Omnibus Long-Term Plan at the Company's 2004 annual meeting of stockholders, an allocation of 90,000 shares of the Company's common stock in the initial public offering of the Company (the "Founder's Stock") shall be granted to the Executive no later than the closing of the initial public offering of Company stock and the right to dispose of such stock shall vest in three (3) equal installments on each of the first three anniversaries of the Effective Date (or earlier as provided in the Agreement) if Executive has been continuously employed by the Company from the Effective Date to such anniversary provided that all other rights with respect to such stock (including the right to vote and the right to receive dividends) shall vest immediately (subject to forfeiture if the unvested shares are forfeited on termination of employment, except as otherwise provided in the Agreement.)

Founder's Stock. Subject to the approval of the 2004 Omnibus Long-Term Plan at the Company's 2004 annual meeting of stockholders, an allocation of 90,000 175,000 shares of the Company's common stock in the initial public offering of the Company (the "Founder's Stock") shall be granted to the Executive no later than the closing of the initial public offering of Company stock and the right to dispose of such stock shall vest in three (3) equal installments on each of the first three anniversaries of the Effective Date (or earlier as provided in the Agreement) if Executive has been continuously employed by the Company from the Effective Date to such anniversary provided that all other rights with respect to such stock (including the right to vote and the right to receive dividends) shall vest immediately (subject to forfeiture if the unvested shares are forfeited on termination of employment, except as otherwise provided in the Agreement.)

Founder's Stock. Subject to the approval of the 2004 Omnibus Long-Term Plan at the Company's 2004 annual meeting of stockholders, an allocation of 90,000 400,000 shares of the Company's common stock in the initial public offering of the Company (the "Founder's Stock") shall be granted to the Executive no later than the closing of the initial public offering of Company stock and the right to dispose of such stock shall vest in three (3) equal installments on each of the first three anniversaries of the Effective Date (or earlier as provided in the Agreement) if Executive has been continuously employed by the Company from the Effective Date to such anniversary provided that all other rights with respect to such stock (including the right to vote and the right to receive dividends) shall vest immediately (subject to forfeiture if the unvested shares are forfeited on termination of employment, except as otherwise provided in the Agreement.)