Release Dates. Based upon Employee attaining mutually agreed upon written annual goals, the Restricted Shares shall be released from the restrictions on transfer and risk of forfeiture Forty Thousand (40,000) Shares per Year for Five (5) years beginning July 31, 2007 and each anniversary thereof. Accordingly, as each of the Release Dates set forth below, that number Shares set forth in the column “Number of Restricted Shares (Cumulative) Released” shall reflect the total number of Shares vested at such time: July 31,2007 40,000 Shares (1/5th) July 31,2008 80,000 Shares (2/5ths) July 31,2009 120,000 Shares (3/5ths) July 31,2010 160,000 Shares (4/5ths) July 31, 2011 200,000 Shares (5/5ths)
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Release Dates. Based upon Employee attaining mutually agreed upon written annual goals, the Restricted Shares shall be released from the restrictions on transfer and risk of forfeiture Forty Five Thousand (40,0005,000) Shares per Year for Five (5) years beginning July 31February 12, 2007 2008 and each anniversary thereof. Accordingly, as each of the Release Dates set forth below, that number Shares set forth in the column “Number of Restricted Shares (Cumulative) Released” shall reflect the total number of Shares vested at such time: July 31,2007 40,000 February 12, 2008 5,000 Shares (1/5th) July 31,2008 80,000 February 12, 2009 10,000 Shares (2/5ths) July 31,2009 120,000 February 12, 2010 15,000 Shares (3/5ths) July 31,2010 160,000 February 12, 2011 20,000 Shares (4/5ths) July 31February 12, 2011 200,000 2012 25,000 Shares (5/5ths)
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