Restricted Shares Award Contract (Non-Employee Directors)

The Restricted Shares Award Contract (Non-Employee Directors) is a legal template designed to formalize an agreement between a company and its non-employee directors regarding the issuance of restricted shares to those directors as a form of compensation or incentive. This contract outlines the terms and conditions of the restricted shares award, including the number of shares being granted, the vesting schedule, and any performance-based conditions that must be met for the shares to fully accrue to the director. Additionally, the contract may also cover matters such as transferability restrictions, dividend rights, and the impact of director's termination or resignation on the restricted shares. Overall, the template serves as a legally binding document that establishes the rights, obligations, and restrictions related to the grant of restricted shares to non-employee directors, ensuring clarity and transparency in the company's compensation arrangements.