TeleCommunication Systems, Inc. Restricted Stock Award Certificate to Maurice B. Tose (June 12, 2003)

Contract Categories: Business Finance › Stock Agreements
Summary

TeleCommunication Systems, Inc. has granted Maurice B. Tose a Restricted Stock Award for 198,000 shares of Class A common stock under its Amended & Restated 1997 Stock Incentive Plan. The shares will vest in three equal installments over three years, provided Mr. Tose remains employed with the company. Any unvested shares will be forfeited if his employment ends. The award is subject to the terms of the plan and the accompanying grant agreement.

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EX-10.59 14 w93020exv10w59.htm EX-10.59 exv10w59  

RESTRICTED STOCK AWARD CERTIFICATE

June 12, 2003

Exhibit 10.59

Maurice B. Tose
1299 Magnolia Ave.
Annapolis, MD 21403 USA

Dear Maurice:

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: Maurice B. Tose
      (the “Employee”)
Grant Date: June 12, 2003
Award Shares Granted: 198,000
Vesting Schedule: 3-year Vesting

66,000 on 06/12/2004
66,000 on 06/12/2005
66,000 on 06/12/2006

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/ Maurice B. Tose
  Date: ________________
                     Maurice B. Tose
    

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