Common use of Sign-On Award Clause in Contracts

Sign-On Award. The Company shall grant to Executive equity compensation awards in the form of restricted stock units equal to four and one tenths percent (4.1%) of the Company’s outstanding equity on a fully diluted basis (the “Sign-On Award”). The Sign-On Award shall be granted as soon as practicable following the Effective Date. Subject to the terms of this Agreement and the award agreement(s) into which Executive and the Company shall enter evidencing the grant of the Sign-On Award, the Sign-On Award shall become vested and non-forfeitable over a period of four (4) years from the Effective Date, with twenty-five percent (25%) of the applicable award vesting on the first anniversary of the Effective Date, and twenty-five percent (25%) vesting on each anniversary thereafter. Notwithstanding anything herein to the contrary, seventy-five percent (75%) of the Sign-On Award (whether vested or unvested) shall be forfeited if the Company is sold either by merger or stock purchase, or if substantially all of the assets of the Company are sold, to a Person or group of Persons who has made an offer to the Board prior to June 1, 2015 and such transaction is concluded within six (6) months from the Effective Date.

Sign-On Award. The Company shall grant to Executive equity compensation awards in the form of restricted stock units equal to five and four and one tenths percent (4.15.4%) of the Company’s outstanding equity on a fully diluted basis (the “Sign-On Award”). The Sign-On Award shall be granted as soon as practicable following the Effective Date. Subject to the terms of this Agreement and the award agreement(s) into which Executive and the Company shall enter evidencing the grant of the Sign-On Award, the Sign-On Award shall become vested and non-forfeitable over a period of four (4) years from the Effective Date, with twenty-five percent (25%) of the applicable award vesting on the first anniversary of the Effective Date, and twenty-five percent (25%) vesting on each anniversary thereafter. Notwithstanding anything herein to the contrary, seventy-five percent (75%) of the Sign-On Award (whether vested or unvested) shall be forfeited if the Company is sold either by merger or stock purchase, or if substantially all of the assets of the Company are sold, to a Person or group of Persons who has made an offer to the Board prior to June 1, 2015 and such transaction is concluded within six (6) months from the Effective Date.