Common use of Grant of Shares Clause in Contracts

Grant of Shares. The Company is transferring to the Executive 240,000 shares of validly issued Common Stock of the Company, par value $.01 per share (the "Restricted Stock"). Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.

Grant of Shares. The Company is transferring to the Executive 240,000 105,000 shares of validly issued Common Stock of the Company, par value $.01 per share (the "“Restricted Stock"”). Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.

Grant of Shares. The Company is transferring to the Executive 240,000 150,000 shares of validly issued Common Stock of the Company, par value $.01 per share (the "Restricted Stock"). Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.

Grant of Shares. The Company is transferring to the Executive 240,000 ____________ shares of validly issued Common Stock of the Company, par value $.01 per share (the "“Restricted Stock"”). Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.

Grant of Shares. The Company is transferring to the Executive 240,000 60,000 shares of validly issued Common Stock of the Company, par value $.01 per share (the "Restricted Stock")share. Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereofat various times with regard to portions of the Restricted Stock.

Grant of Shares. The Company is transferring to the Executive 240,000 shares of validly issued Common Stock of the Company, par value $.01 per share (the "“Restricted Stock"”). Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.

Grant of Shares. The Company is transferring to the Executive 240,000 75,000 shares of validly issued Common Stock of the Company, par value $.01 per share (the "“Restricted Stock"”). Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.

Grant of Shares. The Company is transferring to the Executive 240,000 20,490 shares of validly issued Common Stock of the Company, par value $.01 per share (the "“Restricted Stock"”). Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.

Grant of Shares. The Company is transferring to the Executive 240,000 275,000 shares of validly issued Common Stock of the Company, par value $.01 per share (the "Restricted Stock")share. Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.

Grant of Shares. The Company is transferring to the Executive 240,000 ________ shares of validly issued Common Stock of the Company, par value $.01 per share (the "Restricted Stock")share. Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.

Grant of Shares. The Company is transferring to the Executive 240,000 200,000 shares of validly issued Common Stock of the Company, par value $.01 per share (the "Restricted Stock"). Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.

Grant of Shares. The Company is transferring to the Executive 240,000 100,000 shares of validly issued Common Stock of the Company, par value $.01 per share (the "Restricted Stock")share. Such shares are fully paid and nonassessable and upon transfer shall be validly issued and outstanding. The shares are subject to certain restrictions pursuant to Section 3 hereof, which restrictions shall expire as provided in Section 3.3 hereof.