Restricted Stock Award Certificate between TeleCommunication Systems, Inc. and Richard A. Young dated June 12, 2003

Contract Categories: Business Finance › Stock Agreements
Summary

TeleCommunication Systems, Inc. has granted Richard A. Young a Restricted Stock Award of 90,000 shares of Class A common stock under its 1997 Stock Incentive Plan. The shares will vest in three equal installments over three years, provided Mr. Young remains employed with the company. Any unvested shares will be forfeited if his employment ends. The award is subject to the terms of the company's stock plan and the accompanying grant agreement.

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EX-10.62 17 w90924exv10w62.htm RSAC-YOUNG exv10w62  

Exhibit 10.62

RESTRICTED STOCK AWARD CERTIFICATE

June 12, 2003

Richard A. Young
219 Winchester Beach Drive
Annapolis, MD 21401 USA

Dear Richard:

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: Richard A. Young
                     (the “Employee”)
Grant Date: April 14, 2003
Award Shares Granted: 90,000
Vesting Schedule: 3-year Vesting

30,000 on 04/14/2004
30,000 on 04/14/2005
30,000 on 04/14/2006

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/ Richard A. Young   Date:    
 
 
    Richard A. Young        

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