Restricted Stock Award Certificate between TeleCommunication Systems, Inc. and Byron Marchant dated June 12, 2003

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

TeleCommunication Systems, Inc. has granted Byron Marchant a Restricted Stock Award of 10,000 shares of Class A common stock under its Amended & Restated 1997 Stock Incentive Plan. The shares will fully vest after one year, on June 12, 2004, provided Mr. Marchant remains employed with the company. If his employment ends before vesting, any unvested shares will be forfeited. By signing, Mr. Marchant agrees to the terms of the award, the plan, and related documents.

Read More Arrow
EX-10.55 10 w90924exv10w55.htm RSAC-MARCHANT exv10w55  

Exhibit 10.55

RESTRICTED STOCK AWARD CERTIFICATE

June 12, 2003

Byron Marchant
One BET Plaza
Washington, DC 20018-1211 USA

Dear Byron:

Pursuant to the terms and conditions of the TeleCommunication Systems, Inc. Amended & Restated 1997 Stock Incentive Plan (the “Plan”), you have been granted a Restricted Stock Award (the “Award”) for the number of shares (each an “Award Share”, and collectively, the “Award Shares”) of the Class A common stock, par value $0.01 per share (the “Common Stock”) of TeleCommunication Systems, Inc. (the “Company”) as outlined below. This Certificate constitutes part of and is subject to the terms and provisions of the attached Restricted Stock Grant Agreement (the “Agreement”) which is incorporated herein by reference.

Granted To: Byron Marchant
                     (the “Employee”)
Grant Date: June 12, 2003
Award Shares Granted: 10,000
Vesting Schedule: 100% after 1 Year

10,000 on 06/12/2004

By my signature below, I hereby acknowledge receipt of this Award granted on the Grant Date shown above, which has been issued to me under the terms and conditions of the Agreement and the Plan. I understand that I will forfeit all unvested Award Shares at the close of business on my last day of employment at TCS. I further acknowledge receipt of the Plan Prospectus and the latest annual report or other SEC filing, and agree to be bound by all of the terms and conditions of the Award, as evidenced in the Agreement, and the Plan.

             
Signature:   /s/ Byron F. Marchant   Date:    
 
 
    Byron F. Marchant        

Note: If there are any discrepancies in the name or address shown above, please make the appropriate corrections on this form.