MicroIslet, Inc. Table of Restricted Stock Unit Awards to Investor Relations Firm Associates

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

MicroIslet, Inc. granted restricted stock units totaling 300,000 shares of common stock to two individuals from an investor relations firm in December 2007. The awards vest in equal monthly installments over 12 months, starting from November 27, 2007, and are contingent on continued service. The recipients' names are not disclosed as they are not company directors or officers. These awards were not approved by shareholders and are governed by a Stock Units Agreement referenced in a related exhibit.

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EX-10.9 3 microislet_10q-1009.txt TABLE OF STOCK UNIT AWARDS Exhibit 10.9 MICROISLET, INC. TABLE OF STOCK UNIT AWARDS In December 2007, the registrant's board of directors awarded restricted stock units representing the right to receive 300,000 shares of common stock to two individuals associated with an investor relations firm. These stock unit awards were not approved by the registrant's security holders. The stock unit awards are documented pursuant to the Stock Units Agreement in the form attached hereto as Exhibit 10.8. The table set forth below lists the number of stock units awarded to each awardee and the corresponding vesting schedule.
Name of Awardee No. of Stock Units Vesting Schedule - --------------- ------------------ ---------------- (1) 240,000 1/12 of the stock units vest on each monthly anniversary of November 27, 2007, subject to continuing service. (1) 60,000 1/12 of the stock units vest on each monthly anniversary of November 27, 2007, subject to continuing service.
* * * (1) The names of the awardees are not disclosed because they are not directors or officers of the registrant.