Common use of Restricted Stock Plan Clause in Contracts

Restricted Stock Plan. Signal has issued restricted stock under the 1987 Stock Option and Incentive Plan and the 1997 Omnibus Incentive Plan. Signal represents that as of the date of this Agreement 235,625 shares of restricted Signal Common Stock are currently issued and outstanding. All of such restrictions will lapse as of the date of the Signal Meeting if the Merger is approved at the Signal Meeting or as of the date of the "Change of Control,"as that term is defined in the applicable agreement. Signal covenants that it will not grant any additional shares of restricted Signal Capital Stock, with the possible exception of 2,500 shares to Mr. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, President of Signal Finance Co., to whom the issuance of such shares has been approved, but not yet issued.