Common use of Nature of Securities Clause in Contracts

Nature of Securities. All Management KAD Restricted Shares shall be issued pursuant to the Arcadia Resources, Inc. 2006 Equity Compensation Plan or other available plan contingent on and subject to approval by KAD's shareholders and listing on AMEX, and compliance with all terms and conditions specified therein. KAD represents and warrants that the 2006 Equity Compensation Plan and the Management KAD Restricted Shares to be issued thereunder are approved by the KAD Board of Directors. KAD represents that it shall use its best efforts to fully comply with all applicable AMEX rules and regulations relative to issuance of the KAD Restricted Shares.

Nature of Securities. All Management KAD Restricted Shares shall be issued pursuant to the Arcadia Resources, Inc. 2006 Equity Compensation Plan or other available plan contingent on and subject to approval by KAD's ’s shareholders and listing on AMEX, and compliance with all terms and conditions specified therein. KAD represents and warrants that the 2006 Equity Compensation Plan and the Management KAD Restricted Shares to be issued thereunder are approved by the KAD Board of Directors. KAD represents that it shall use its best efforts to fully comply with all applicable AMEX rules and regulations relative to issuance of the KAD Restricted Shares.