Common use of Stock Powers Clause in Contracts

Stock Powers. The Participant shall deposit with the Company stock powers or other instruments of transfer or assignment, duly endorsed in blank with signature(s) guaranteed, corresponding to each certificate representing Shares of Restricted Stock (or if Shares are issued without certificates, corresponding to all of the Shares of Restricted Stock registered in the name of the Participant) until such Shares become Vested Shares. If the Participant shall fail to provide the Company with any such stock power or other instrument of transfer or assignment, the Participant hereby irrevocably appoints the Secretary of the Company as his attorney-in-fact, with full power of appointment and substitution, to execute and deliver any such power or other instrument which may be necessary to effectuate the transfer of the Shares of Restricted Stock (or assignment of distributions thereon) on the books and records of the Company.

Stock Powers. The Participant shall deposit with the Company a stock powers power or other instruments instrument of transfer or assignment, duly endorsed in blank with signature(s) guaranteed, corresponding to each the certificate representing the Shares of Restricted Stock (or if Shares are issued without certificates, corresponding to all of the Shares of Restricted Stock registered in the name of the Participant) until such Shares become Vested Shares. If the Participant shall fail to provide the Company with any such stock power or other instrument of transfer or assignment, the Participant hereby irrevocably appoints the Secretary of the Company as his attorney-in-fact, with full power of appointment and substitution, to execute and deliver any such power or other instrument which may be necessary to effectuate the transfer of the Shares of Restricted Stock (or assignment of distributions thereon) on the books and records of the Company.