Grant of Stock Clause Example from Business Contracts

Grant of Stock. Subject to the terms and provisions of this Agreement and the Plan, the Company hereby grants to Employee __________________ (_____) shares of common stock , par value $0.001 per shares, of the Company (such shares are referred to hereinafter as the "Shares"). Upon the execution of this Agreement, the Shares shall be registered on the books of the Company, and the Company shall cause the transfer agent and registrar of its common stock to issue one or more certificates in Employee's name evidenc...ing the Shares (each a "Stock Certificate"). Employee shall immediately thereafter deposit with the Company (and, if required by the Company, a stock power duly endorsed in blank in the form provided by the Company), each Stock Certificate to be held by the Company until such time as the restrictions set forth herein and under the Plan have lapsed pursuant to paragraph 4 of this Agreement. The Stock Certificate(s) shall bear a legend in substantially the following form: The transferability of this certificate and the shares of Common Stock represented by it are subject to the terms and conditions (including conditions of forfeiture) contained in the 2021 Stock Incentive Plan (the "Plan") of Table Trac, Inc. (the "Company"), and an agreement entered into between the registered owner and the Company. A copy of the Plan and the agreement is on file in the office of the secretary of the Company. At the Company's election, Shares may be held in book entry form subject to the Company's instructions until any restrictions relating to the Shares have lapsed. View More