Common use of Initial Grant Clause in Contracts

Initial Grant. Employer hereby grants to Employee 10,000 shares of Restricted Stock in accordance with the terms and conditions of Employer’s Long Term Incentive Plan and pursuant to the Restricted Stock Agreement attached hereto as Exhibit “A,” which is incorporated by reference as if set forth fully herein (the “Restricted Stock Agreement”). Such shares of Restricted Stock shall vest as follows: (i) forty percent (40%) of the shares (or units) shall vest on January 1, 2012; (ii) twenty percent (20%) of the shares (or units) shall vest on January 1, 2013; (iii) twenty percent (20%) of the shares (or units) shall vest on January 1, 2014; and (iv) twenty percent (20%) of the shares (or units) shall vest on January 1, 2015.

Initial Grant. Employer hereby grants to Employee 10,000 7,000 shares of Restricted Stock in accordance with the terms and conditions of Employer’s Long Term Incentive Plan and pursuant to the Restricted Stock Agreement attached hereto as Exhibit “A,” which is incorporated by reference as if set forth fully herein (the “Restricted Stock Agreement”). Such shares of Restricted Stock shall vest as follows: (i) forty percent (40%) of the shares (or units) shall vest on January 1June 6, 20122013; (ii) twenty percent (20%) of the shares (or units) shall vest on January 1June 6, 20132014; (iii) twenty percent (20%) of the shares (or units) shall vest on January 1June 6, 20142015; and (iv) twenty percent (20%) of the shares (or units) shall vest on January 1June 6, 20152016.