Common use of New Restricted Stock Grant Clause in Contracts

New Restricted Stock Grant. Subject to the approval of the Compensation Committee and the conditions and restrictions herein, within thirty (30) days after the Effective Date, the Company shall grant to the Executive an award of 40,000 restricted shares of the Company's common stock (the “New Grant”). Subject to the Executive's continued employment by the Company through the vesting date, the New Grant shall vest in one (1) installment on the third (3rd) anniversary of the Effective Date. The New Grant shall be made pursuant to, and, except as expressly set forth herein, shall be subject to the terms and conditions of, the Plan and the Company's standard form of Restricted Stock Agreement.

New Restricted Stock Grant. Subject to the approval of the Compensation Committee and the conditions and restrictions herein, within thirty (30) days after the Effective Date, the Company shall grant to the Executive an award of 40,000 150,000 restricted shares of the Company's common stock ’s Common Stock (the “New Grant”). Subject to the Executive's continued employment by the Company through the vesting date, the The New Grant shall vest in one (1) installment on the third (3rd) anniversary as to one-fourth of the Effective shares subject to the New Grant on January 1, 2017 (the “Initial Vesting Date”) and as to an additional one-fourth of such shares on each of the next three (3) anniversaries of the Initial Vesting Date. The New Grant shall be made pursuant to, and, except as expressly set forth herein, shall be subject to the terms and conditions of, the Plan and the Company's ’s standard form of Restricted Stock Agreement.

New Restricted Stock Grant. Subject to the approval of the Compensation Committee and the conditions and restrictions herein, within thirty (30) days after the Effective Date, the Company shall grant to the Executive an award of 40,000 60,000 restricted shares of the Company's common stock (the “New Grant”). Subject to the Executive's continued employment by the Company through the vesting date, the New Grant shall vest in one (1) installment on the third (3rd) anniversary of the Effective Date. The New Grant shall be made pursuant to, and, except as expressly set forth herein, shall be subject to the terms and conditions of, the Plan and the Company's standard form of Restricted Stock Agreement.