Document:

Untitled Document

Exhibit 10.11 

MFA
MORTGAGE INVESTMENTS, INC.
2004 EQUITY COMPENSATION PLAN 

Form of
Restricted Stock Award Agreement 

AGREEMENT by
and between MFA Mortgage Investments, Inc., a Maryland corporation (the “Company”),
and ________________ (the “Grantee”), dated as of the _______ day of
_________, __________ (the “Effective Date”).
 

WHEREAS, the
Company maintains the 2004 Equity Compensation Plan (the “Plan”)
(capitalized terms used but not otherwise defined herein shall have the respective
meanings ascribed thereto by the Plan);
 

          WHEREAS,
the Grantee is _________ of a  Participating Company; and
 

WHEREAS,  in
accordance  with the  Plan,  the  Committee  has  determined  that it is in the best
interests  of the  Company  and  its  stockholders  to  grant  Restricted  Stock  to  the
Grantee subject to the terms and conditions set forth below.
 

NOW, THEREFORE,
IT IS HEREBY AGREED AS FOLLOWS:
 

          1.
  Grant of Restricted Stock.

   

The  Company
hereby  grants the Grantee  _________  Shares of  Restricted  Stock of the  Company,
subject  to the  following  terms and  conditions  and  subject to the  provisions  of
the  Plan.  The  Plan  is  incorporated  herein  by  reference  as  though set forth
herein in its entirety.
 

          2.
  Restrictions and Conditions.

   

The  Restricted
Stock awarded  pursuant to this Agreement and  the Plan shall be subject to the
following  restrictions  and  conditions:
 

	 	(i)
Subject to  clauses  (iii) and (iv)  below,  the  period  of  restriction  with  respect
to Shares  granted  hereunder  (the  “Restriction  Period”)  shall  begin  on
the  date  hereof  and  lapse  on  the  following  schedule:
 

	 	
	 
	 	 
	 	
	 
	 	 	 
	 	
	 

	 	For
purposes  of  the  Plan  and  this  Agreement,  Shares  with  respect  to  which  the
Restriction  Period has lapsed shall be  vested.  Notwithstanding the foregoing,  the
Restriction  Period  with  respect  to  such  Shares  shall  only  lapse  as  to  whole
Shares.  Subject  to the  provisions  of the  Plan  and  this  Agreement,  during  the
Restriction  Period,  the Grantee  shall not  be permitted  voluntarily  or
involuntarily  to  sell,  transfer,  pledge,  anticipate,  alienate,  encumber  or
assign  Shares  of  Restricted  Stock  awarded  under  the  Plan  (or  have  such  Shares
attached  or  garnished).
 

	 	(ii)
Except  as  provided  in  the  foregoing  clause (i),  below in this clause  (ii)  or in
the  Plan,  the  Grantee  shall  have,  in  respect  of  the  Shares  of  Restricted
Stock,  all of the  rights  of a  stockholder  of the Company,  including  the  right  to
vote  the  Shares;  provided,  however,  that  cash  dividends  on  such  Shares shall,
unless otherwise  provided by  the  Committee  in this  Agreement,  be held  by the 
 

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	 	Company
(unsegregated  as a part of  its general  assets)  until the  Restriction  Period  lapses
(and  forfeited  if  the  underlying  Shares are forfeited),  and paid  over to the
Grantee as soon as  practicable  after  the  Restriction  Period  lapses  (if  not
forfeited).  Certificates  for  Shares  (not  subject  to  restrictions)  shall  be
delivered  to the  Grantee  promptly  after,  and only  after,  such  Shares  have
vested  (i.e.,  the  Restriction  Period shall lapse  with  respect  thereto)  without
forfeiture  in respect of such Shares.
 

	 	(iii)
Subject  to  clause  (iv)  below,  upon  the  Grantee’s  Termination  of Service
for Cause or by the  Grantee’s  termination  for any reason other  than  his  or
her  death,  Retirement  or  Disability,  during the Restriction  Period,  then  all
Shares  still  subject  to  restriction  shall  thereupon,  and  with no  further
action,  be  forfeited  by  the  Grantee.
 

	 	(iv)
In the event the Grantee’s has a Termination  of Service  on  account  of  death,
Disability  or  Retirement or on account of  Termination  of  Service  by  the  Company
for  any  reason  other  than  for  Cause,  during  the  Restriction  Period,  then
restrictions  under  the Plan  will  immediately  lapse on  all Restricted Stock.
 

          3.
  Miscellaneous.

   

	(a) 	 	
        THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF MARYLAND,
        WITHOUT REFERENCE TO PRINCIPLES OF CONFLICT OF LAWS. The captions
        of this Agreement are not part of the provisions hereof and shall have
        no force or effect. This Agreement may not be amended or modified except
        by a written agreement executed by the parties hereto or their respective
        successors and legal representatives. The invalidity or unenforceability
        of any provision of this Agreement shall not affect the validity or enforceability
        of any other provision of this Agreement.

         

	(b) 	 	 The
Committee  shall  have  the  power  to  construe and interpret this  Agreement,  and  to
establish,  amend and  revoke  rules and  regulations  for  administration  of  the
Plan.  In  this  connection,  the  Committee  may  correct  any  defect  or  supply  any
omission,  or  reconcile  any  inconsistency  in the Plan,  in this  Agreement,  or in
any  related  agreements,  in the  manner  and to  the  extent  it  shall  deem
necessary  or  expedient  to  make  the  Plan  fully  effective.  All  decisions  and
determinations  by  the  Committee  in  the  exercise  of this  power  shall be final and
binding  upon the Company  and the  Grantee.  Notwithstanding  the  foregoing,  the
Committee  shall  not  take  any  action  or  make  any  interpretation  with  respect
to  this  Agreement  or  the  Plan  that  would  cause  (a)  the  Plan  to  not  satisfy
the  requirements  for  exemption  under  Rule  16b-3  under  the  Exchange  Act or (b)
any  member of the  Committee to be  disqualified  as  a  Non-Employee  Director  under
such  Rule.
 

	(c) 	 	 All
notices  hereunder  shall be in writing,  and if to  the  Company  or  the  Committee,
shall be  delivered  to the  Board or mailed  to its  principal  office,  addressed to
the  attention  of  the  Board;  and  if  to  the  Grantee,  shall be delivered
personally  or  mailed  to  the  Grantee  at  the  address  appearing  in the  records
of the  Company.  Such  addresses  may be  changed at any time  by written  notice to the
other  party given  in accordance with this paragraph 3(c).
 

	(d) 	 	 The
failure of the  Grantee or the  Company  to insist  upon strict  compliance  with any
provision  of this  Agreement  or the  Plan,  or to assert  any right the  Grantee  or
the  Company,  respectively,  may have under this  Agreement  or the Plan,  shall not be
deemed  to be a waiver  of such  provision  or right  or any  other  provision  or  right
of this  Agreement or the Plan.
 

	(e) 	 	 Nothing
in this  Agreement  shall  confer on  any  individual  any  right to  continue  in  the
employ or other  service of the  Company  or any of its  Subsidiaries  (if applicable)
or  interfere  in any way with the  right of  the  Company  and  its  stockholders  to
terminate  the  individual’s  employment  or  other service at any time.
 

45

 

	(f) 	 	 This
Agreement  (together  with  the  Plan)  contains  the entire  agreement  between the
parties with  respect to the subject  matter  hereof  and  supersedes  all  prior
agreements,  written or oral,  with  respect  thereto.
 

IN  WITNESS
WHEREOF,  the  Company  and  the  Grantee  have  executed  this  Agreement  as of the day
and year first  above  written.  MFA  MORTGAGE INVESTMENTS, INC.
 

	 	MFA
      MORTGAGE INVESTMENTS, INC.
	 	 	 
	 	By: 	                                             
	 	Name:
       	                                             
	 	Title:
       	                                             
	 	 	 
	 	                                                                          

	 	Grantee

46subscrpagrmt Ex 4-2

SUBSCRIPTION AGREEMENT

BAROLA OIL & GAS CO. INC.

BAROLA OIL & GAS CO. INC., a Nevada corporation with its principal office at 852 West Hastings Street, Vancouver, British Columbia, Canada, V6C 1C8 (hereinafter the "Company") and the undersigned (hereinafter the "Subscriber") agree as follows:

WHEREAS:

A. The Company desires to issue a maximum of 3,000,000 shares of common stock of the Company at a price of $0.15 per share (hereinafter the "Shares"); and

B. The Subscriber desires to acquire the number of Shares set forth on the signature page hereof.

NOW, THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter set-forth, the parties hereto do hereby agree as follows:

SUBSCRIPTION FOR SHARES

1.1  Subject to the terms and conditions hereinafter set-forth, the Subscriber hereby subscribes for and agrees to purchase from the Company such number of Shares as is set-forth upon the signature page hereof at a price equal to $0.15 per share, and the Company agrees to sell such shares to the Subscriber for said purchase price subject to the Company's right to sell to the Subscriber such lesser number of shares as it may, in its sole discretion, deem necessary or desirable. Upon execution, this subscription shall be irrevocable by the Subscriber.

1.2  In order to purchase any of the shares being offered, an investor must complete and sign the Subscription Agreement that is attached to this Prospectus and return the original to Henry Starek, 852 West Hastings Street, Vancouver, British Columbia, Canada, V6C 1C8. Payment, if made by a personal check, cashier’s check or money order, shall be for the full purchase price of $0.15 per share and made payable to "Barola Incorporated." 

1.3  Any acceptance by the Company of the Subscriber is conditional upon compliance with all securities laws and other applicable laws of the jurisdiction in which the Subscriber is resident. Each Subscriber will deliver to the Company all other documentation, agreements, representations and requisite government forms required by the lawyers for the Company as required to comply with all securities laws and other applicable laws of the jurisdiction of the Subscriber. 

REPRESENTATIONS AND WARRANTIES BY SUBSCRIBER

2.1  Subscriber hereby severally represents and warrants to the Company the following:

 

 (A)     the Subscriber has been delivered a Prospectus furnished by the Company to the Subscriber and has had full opportunity to review the 

                 Prospectus prior to execution of this Subscription Agreement; and 

	 	1 	 
	

 

    (B)     the Subscriber has full power and authority to enter into this Agreement which constitutes a valid and legally binding obligation, enforceable in 

              accordance with its terms;

REPRESENTATIONS BY THE COMPANY

3.1   The Company represents and warrants to the Subscriber that:

     (A)    The Company is a corporation duly organized, existing and in good standing under the laws of the State of Nevada and has the corporate power 

               to conduct the business which it conducts and proposes to conduct.

      (B)    Upon issue, the Shares will be duly and validly issued, fully paid and non-assessable.

TERMS OF SUBSCRIPTION

4.1   Once this subscription is accepted by the Company, all funds paid hereunder shall be immediately available to the Company. In the Event the subscription is not accepted, the subscription funds will be immediately returned to the Subscriber by the Company.

4.2   The Subscriber hereby authorizes and directs the Company to deliver the securities to be issued to such Subscriber pursuant to this Subscription Agreement to the Subscriber’s address indicated below.

MISCELLANEOUS

5.1  Any notice or other communication given hereunder shall be deemed sufficient if in writing and sent by registered or certified mail, return receipt requested, addressed to the Company, at its principal office, 852 West Hastings Street, Vancouver, British Columbia, Canada, V6C 1C8, Attention: Mr. Henry Starek, and to the Subscriber at his address indicated on the last page of this Subscription Agreement. Notices shall be deemed to have been given on the date of mailing, except notices of change of address, which shall be deemed to have been given when received.

5.2  Notwithstanding the place where this Subscription Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed in accordance with and governed by the laws of the State of Nevada.                                                        

5.3   The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Subscription Agreement.

5.4  The Subscriber agrees to notify the Company immediately if any of the foregoing statements made herein shall become untrue.

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 IN WITNESS WHEREOF, this Subscription Agreement is executed as of the ___day of ________ 2004. 

 

 

Number of Shares Subscribed For:   __________________________________________________________

 

Dollar Amount:                                 __________________________________________________________

 

Signature of Subscriber:                    __________________________________________________________

 

 

Name of Subscriber:                         __________________________________________________________

 

Address of Subscriber:                      __________________________________________________________

 

 

Subscriber’s Social Security No.       __________________________________________________________

 

or Tax Identification No.                   __________________________________________________________

 

ACCEPTED BY: BAROLA OIL & GAS CO. INC.

Signature of Authorized Signatory:      __________________________________

Name of Authorized Signatory:           __________________________________

Position of Authorized Signatory:        __________________________________

Date of Acceptance:                           __________________________________    

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