Common use of Grant of Deferred Shares Clause in Contracts

Grant of Deferred Shares. The Company hereby grants to the Grantee an award of shares (the “Deferred Shares”) of the Company’s common stock, par value of $.001 per share (the “Common Stock”) subject to the terms and conditions set forth herein and in the Plan and subject further to adjustment as provided in Section 3.3 of the Plan. The Deferred Shares granted hereunder represent the unfunded and unsecured right to require the Company to deliver to the Grantee one share of Common Stock for each Deferred Share. The terms of the Plan are hereby incorporated into this Agreement by this reference, as though fully set forth herein. Capitalized terms used but not defined herein will have the same meaning as defined in the Plan.

Grant of Deferred Shares. The Company hereby grants to the Grantee an award of shares (the “Deferred Shares”) of the Company’s common stock, par value of $.001 per share (the “Common Stock”) subject to the terms and conditions set forth herein and in the Plan and subject further to adjustment as provided in Section 3.3 11(c) of the Plan. The Deferred Shares granted hereunder represent represents the unfunded and unsecured right to require the Company to deliver to the Grantee one share of Common Stock for each Deferred Share. The terms of the Plan are hereby incorporated into this Agreement by this reference, as though fully set forth herein. Capitalized terms used but not defined herein will have the same meaning as defined in the Plan.

Grant of Deferred Shares. The Company hereby grants to the Grantee an award of shares (the “Deferred Shares”) of the Company’s common stock, par value of $.001 per share (the “Common Stock”) in the quantity specified on the signature page hereto subject to the terms and conditions set forth herein and in the Plan and subject further to adjustment as provided in Section 3.3 of the Plan. The Deferred Shares granted hereunder represent the unfunded and unsecured right to require the Company to deliver to the Grantee one share of Common Stock for each Deferred Share. The terms of the Plan are hereby incorporated into this Agreement by this reference, as though fully set forth herein. Capitalized terms used but not defined herein will have the same meaning as defined in the Plan.