Common use of Treatment of Restricted Stock Clause in Contracts

Treatment of Restricted Stock. Notwithstanding the terms of the applicable restricted stock award agreements between the Consultant and Hatteras, the Consultant hereby agrees to the conversion of each of Consultant’s Hatteras restricted stock awards outstanding as of the Closing into an equivalent Company restricted stock award as contemplated by the Merger Agreement and specifically consents and agrees that each such converted Company restricted stock award will vest in accordance with the vesting schedule applicable to the corresponding Hatteras restricted stock award (ignoring any accelerated vesting as a result of the occurrence of the Merger (as defined in the Merger Agreement)), subject to the Consultant continuing to provide the Consulting Services through the applicable vesting date; provided, that, (i) any portion of a converted Company restricted stock award scheduled to vest following the end of the thirty-month Consulting Period will vest proportionately on the scheduled vesting dates that occur during the thirty-month Consulting Period, and (ii) upon the earlier termination of the Consulting Period and this Agreement due to the Consultant’s death or Disability pursuant to Section 2(a) of this Agreement, any then remaining unvested converted Company restricted stock awards held by the Consultant will vest in full.