Common use of Grant of Deferred Stock Clause in Contracts

Grant of Deferred Stock. Subject to the terms and conditions of The ▇▇▇▇▇▇▇▇ Companies, Inc. 2002 Incentive Plan, as amended from time to time (the “Plan”), this Agreement and the 2006 Award Letter, the Company hereby grants an award (the “Award”) to the Participant of shares effective (the “Effective Date”). The Award gives the Participant the opportunity to earn the right to receive the number of shares of the Common Stock of the Company shown in the prior sentence, subject to adjustment under the terms of this Agreement. These shares are referred to in this Agreement as the “Deferred Stock.” Until the Participant both becomes entitled to payment of the Deferred Stock under the terms of Paragraph 4 and is paid such shares under the terms of Paragraph 5, the Participant shall have no rights as a stockholder of the Company with respect to the Deferred Stock.

Grant of Deferred Stock. Subject to the terms and conditions of The ▇▇▇▇▇▇▇▇ Companies, Inc. 2002 Incentive Plan, as amended from time to time (the “Plan”), this Agreement Agreement, and the 2006 Award Letter, the Company hereby grants to the Participant an award (the “Award”) to the Participant of shares effective (the “Effective Date”). The Award Award, which is subject to adjustment under the terms of this Agreement, gives the Participant the opportunity to earn the right to receive the number of shares of the Common Stock of the Company shown in the prior sentence. These shares, subject to adjustment together with any other shares that are payable under the terms of this Agreement. These shares , are referred to in this the Agreement as the “Deferred Stock.” Until the Participant both becomes entitled to payment of the Deferred Stock under the terms of Paragraph 4 5 and is paid such shares under the terms of Paragraph 56, the Participant shall have no rights as a stockholder of the Company with respect to the Deferred Stock.