Exhibit 10.1


 


CHINA
JO-JO DRUGSTORES, INC.


 


RESTRICTED
STOCK AWARD AGREEMENT


UNDER
THE 2010 EQUITY INCENTIVE PLAN


 


	Grantee:	 
	 
	Grant
    Date:	 
	 
	Number
    of Shares:	 
	 
	Original
    Value:	$


 


Pursuant
to the China Jo-Jo Drugstores, Inc. 2010 Equity Incentive Plan (the “Plan”) as amended through the date hereof,
China Jo-Jo Drugstores, Inc. (the “Company”) hereby grants a Restricted Stock Award (an “Award”)
to the Grantee named above.  Upon acceptance of this Award, the Grantee shall receive the number of shares of common
stock of the Company, par value $.001 per share (“Par Value”), specified above (the “Shares”)
having a fair value per share (“Original Value”) equal to the amount specified above, subject to the restrictions
and conditions set forth herein and in the Plan.  The Company acknowledges the receipt from the Grantee of consideration
with respect to the Original Value of the Shares in the form of cash, past or future services rendered by the Grantee to the Company,
a subsidiary of the Company and/or an affiliated or related entity which the Company controls (the “Company”),
or such other form of consideration as is acceptable to the Committee.


 


1.
Acceptance of Award.  The Grantee shall have no rights with respect to this Award unless he or she shall
have accepted this Award by signing and delivering to the Company a copy of this Award Agreement.  Upon acceptance
of this Award by the Grantee, the Shares so accepted shall be issued and held by the Company’s transfer agent in book
entry form, subject to Section 3, and the Grantee’s name shall be entered as the stockholder of record on the books of
the Company.  Thereupon, the Grantee shall have all the rights of a stockholder with respect to such shares,
including voting and dividend rights, subject, however, to the restrictions and conditions specified in Section 2
below.


 


2. Restrictions
and Conditions.


 


2.1The
Award granted herein may not be sold, assigned, transferred, pledged, or otherwise encumbered or disposed of by the Grantee prior
to vesting.


 


2.2In
the event Grantee's employment or service as a director/consultant is terminated by the Company “for cause” (as defined
below) or by Grantee for any or no reason, any portion of the Award not vested at the time of such termination shall be automatically
forfeited by the Grantee as of the date of such termination. Termination “for cause” means (i) as to employees or
consultants, termination for cause by the Company as defined in the Plan, this Agreement or in any employment or consulting agreement
between the Company and Grantee, or (ii) as to directors, removal pursuant to the Nevada Revised Statutes.


 






    	 



    	 



    

 


2.3In
the event Grantee’s employment or service as a director/consultant is terminated due to the Disability (as defined in the
Plan) or death of Grantee, or other than “for cause” as defined in Section 2.2 above, the Award shall fully vest on
the date of such termination and be free of any restrictions.


 


2.4In
the event Grantee desires to transfer any Shares prior to the ninety-first (91st) day from the termination of Grantee’s
employment or service as a director/consultant, Grantee shall first offer to sell such Shares to the Company. Grantee shall deliver
to the Company written notice of the intended sale, such notice to specify the number of Shares to be sold, the proposed purchase
price and terms of payment, and grant the Company an option for a period of thirty days following receipt of such notice to purchase
the offered Shares upon the same terms and conditions. To exercise such option, the Company shall give notice of that fact to
Grantee within the thirty (30) day notice period and agree to pay the purchase price in the manner provided in the notice. If
the Company does not purchase all of the Shares so offered during foregoing option period, Grantee shall be under no obligation
to sell any of the offered Shares to the Company, but may dispose of such Shares in any lawful manner during a period of one hundred
and eighty (180) days following the end of such notice period, except that Grantee shall not sell any such Shares to any other
person at a lower price or upon more favorable terms than those offered to the Company.


 


2.5The
Award shall further be subject to the restrictions and conditions set forth in the Plan, including the limitations on transferability.


 


3.
Vesting.  The Shares shall be issued in the amounts and on the dates specified in the following
schedule so long as the Grantee remains an employee or in the services of the Company on such dates.  The
restrictions and conditions of Section 2 shall lapse as to each amount of shares issued according to the schedule
below.  The Committee may at any time accelerate the vesting schedule specified in this Section 3.


 


	Number
    of Shares Vested	Vesting
    Date


 


4.
Dividends.  Dividends on the Shares, if any are declared, shall be paid currently to the Grantee and
shall be subject to the same restrictions as the Shares with regard to which they are issued.


 


5.
Incorporation of Plan.  Notwithstanding anything herein to the contrary, this Agreement shall be
subject to and governed by all the terms and conditions of the Plan, including the powers of the Committee set forth in
Section 1.4 of the Plan.  Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless
a different meaning is specified herein.


 






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6.
Notices.  Notices hereunder shall be mailed or delivered to the Company at its principal place of business
and shall be mailed or delivered to the Grantee at the address on file with the Company or, in either case, at such other
address as one party may subsequently furnish to the other party in writing.


 


7.
Invalid Provision. The invalidity or unenforceability of any particular provision thereof shall not affect the
other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision
had been omitted.


 


8. Modifications. No
change, modification or waiver of any provision of this Agreement shall be valid unless the same is in writing and signed by
the parties hereto.


 


9. Entire
Agreement. This Agreement and the Plan contain the entire agreement and understanding of the parties hereto with
respect to the subject matter contained herein and therein and supersede all prior communications, representations and
negotiations in respect thereto.


 


      10.
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.


 


	CHINA
    JO-JO DRUGSTORES, INC.	 	GRANTEE
	 
	By:	 	 	
	Name:	 	 	Name:
	Its:	 	 	 


 


 


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