Common use of Grants of Restricted Stock Clause in Contracts

Grants of Restricted Stock. (a) Employee will be eligible to participate in any Employer’s incentive stock plan (For Restricted Stock Bonus Awards) (the “Plan”) on the same terms as are generally available to executive officers of Employer and on terms which are in accordance with comparative market practices. The parties agree that any additional grant of restricted stock under the Plan or any similar plan is subject to the discretion of the Board, or the Compensation Committee of the Board, based upon the duties of Employee’s position, the extent to which Employee’s individual performance objectives and Employer’s profitability objectives and other financial and non-financial objectives were achieved during the applicable period, and comparative market practices. (b) In addition to any rights Employee may have under the Plan or specific restricted stock under the Plan, all restricted stock bonus awards granted to Employee which would have otherwise vested during the period following the occurrence of a Change in Control shall immediately vest and become exercisable in the event of a Change in Control.

Grants of Restricted Stock. (a) Employee will shall continue to be eligible to participate in any Employer’s incentive stock plan 2007 Incentive Stock Plan (For Restricted Stock Bonus Awards) (the “Plan”) on the same terms as are generally available to executive officers of Employer and on terms which are in accordance with comparative market practices. . (b) The parties agree that any additional grant of restricted stock under the Plan or any similar plan is subject to the discretion of the Board, or the Compensation Committee of the Board, Board based upon the duties of Employee’s position, the extent to which Employee’s individual performance objectives and Employer’s profitability objectives and other financial and non-financial objectives were achieved during the applicable period, and comparative market practices. (bc) In addition to any rights Employee may have under the Plan or specific restricted stock under the Plan, all restricted stock bonus awards granted to Employee which would have otherwise vested during the period following the occurrence of a Change in Control shall immediately vest and become exercisable in the event of a Change in Control.