Common use of Grant of Deferred Shares Clause in Contracts

Grant of Deferred Shares. Effective as of the date hereof, the Company hereby evidences and confirms its award to the Employee, on the terms and conditions of this Agreement and the Plan, of the number of Deferred Shares set forth on the signature page hereof, which represent the Company’s contractual obligation to deliver shares of Common Stock to the Employee upon the terms and conditions set forth herein and in the Plan.

Grant of Deferred Shares. Effective as of the date hereof, the Company Holding hereby evidences and confirms its award sale to the EmployeePurchaser, on the terms and conditions of this Agreement Award and the Plan, of the number of shares of Deferred Shares set forth on the signature page hereof, which represent the Company’s Holding's contractual obligation to deliver shares of Holding's Common Stock ("Shares") to the Employee Purchaser upon the terms and conditions set forth herein and in the Plan. The Deferred Shares granted hereby shall be fully vested upon grant.