Document:

ex10qto10k03725_1312007.htm

     

    Exhibit 10(q)

     

     

     

    
      The LGL
Group, Inc.

      2525
Shader Road

      Orlando,
FL 32804

       

      ___________
__, 200_

       

      __________________

      c/o The
LGL Group, Inc.

      2525
Shader Road

      Orlando,
FL 32804

       

      Dear
____________:

       

      In
consideration of your service as ___________ of The LGL Group, Inc., a Delaware
corporation (the “Company”), the Company will, to the extent provided herein,
indemnify you and hold you harmless from and against any and all “Losses” (as
defined below) that you may incur by reason of your election or service as a
director, officer, employee, agent, fiduciary or representative of the Company
or any “Related Entity” (as defined below) to the fullest extent permitted by
law.

       

      1.           
a)           “Costs and
Expenses” means all reasonable costs and expenses incurred by you in
investigating, defending or appealing any threatened, pending or completed
claim, action, suit or proceeding including, without limitation, legal counsel
and expert witness fees and disbursements.

       

      (b)           “Losses”
means all liabilities, Costs and Expenses, amounts of judgments, fines,
penalties or excise taxes (or other amounts assessed, surcharged or levied under
the Employee Retirement Income Security Act of 1974, as amended) and amounts
paid in settlement of or incurred in defense of or otherwise in connection with
any threatened, pending or completed claim, action, suit or proceeding, whether
civil, criminal, administrative or investigative, and whether brought by or in
the right of the Company or otherwise, and appeals in which you may become
involved, as a party or otherwise, by reason of acts or omissions in your
capacity as and while serving as a director, officer, employee, agent, fiduciary
or representative of the Company or any Related Entity.

       

      (c)           “Related
Entity” means any corporation, partnership, joint venture, trust or other entity
or enterprise in which the Company is in any way interested, or in or as to
which you are serving at the Company’s request or on its behalf, as a director,
officer, employee, agent, fiduciary or representative including, but not limited
to, any employee benefit plan or any corporation of which the Company or any
Related Entity is, directly or indirectly, a stockholder or
creditor.

       

      2.           Costs
and Expenses shall be paid promptly by the Company as they are incurred or, at
your request, shall be advanced on your behalf against delivery of invoices
therefor (prior to an ultimate determination as to whether you are entitled to
be indemnified by the Company on account thereof); provided, however, that if it
shall ultimately be determined by final decision of the Court of Chancery that
you are not entitled to be indemnified on account of any Costs or Expenses for
which you have theretofore received payment or reimbursement, you shall promptly
repay such amount to the Company.

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      3.           The
Company shall indemnify you and hold you harmless from and against any and all
Losses that you may incur if you are a party to or threatened to be made a party
to or otherwise involved in any proceeding or action (other than a proceeding or
action by or in the right of the Company to procure a judgment in its favor),
unless it is determined as provided in Paragraph 7 that you did not act in good
faith and for a purpose that you reasonably believed to be in, or, in the case
of service to a Related Entity, not opposed to, the best interests of the
Company and, in the case of a criminal proceeding or action, in addition, that
you had reasonable cause to believe that your conduct was unlawful.

       

      4.           The
Company shall indemnify you and hold you harmless from and against any and all
Losses that you may incur if you are a party to or threatened to be made a party
to any proceeding or action by or in the right of the Company to procure a
judgment in its favor, unless it is determined as provided in Paragraph 7 that
you did not act in good faith and for a purpose that you reasonably believed to
be in, or, in the case of service to a Related Entity, not opposed to, the best
interests of the Company, except that no indemnification for Losses shall be
made under this Paragraph 4 in respect of any claim, issue or matter as to which
you shall have been adjudged to be liable to the Company unless and only to the
extent that the Court of Chancery or the court in which such action or
proceeding was brought shall determine upon application that, despite the
adjudication of liability but in view of all the circumstances of the case, you
are fairly and reasonably entitled to indemnity for such expenses as such court
shall deem proper.

       

      5.           Anything
hereinabove to the contrary notwithstanding, “Losses” shall not include, and you
shall not be entitled to indemnification under this agreement on account of (i)
amounts payable by you to the Company or any Related Entity in satisfaction of
any judgment or settlement in the Company’s or such Related Entity’s favor
(except amounts for which you shall be entitled to indemnification pursuant to
Paragraph 4), (ii) amounts payable on account of profits realized by you in the
purchase or sale of securities of the Company or any Related Entity within the
meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or
similar provisions of state law; (iii) Losses in connection with which you are
not entitled to indemnification as a matter of law or public policy; or (iv)
Losses to the extent you are indemnified by the Company otherwise than pursuant
to this agreement, including any Losses for which payment is made to you under
an insurance policy.

       

      6.           Termination
of any action, suit or proceeding by judgment, order, settlement or conviction,
upon a plea of nolo contendere or its equivalent shall not, of itself, create
any presumption that you did not act in good faith and for a purpose that you
reasonably believed to be in or not opposed to the best interests of the Company
or a Related Entity and, with respect to any criminal action or proceeding, had
no reasonable cause to believe that your conduct was unlawful.

       

      7.           The
determination on behalf of the Company that you are not entitled to be
indemnified for Losses hereunder by reason of the provisions of Paragraphs 3 or
4 or clause (iii) of Paragraph 5 may be made either by (a) a majority vote of
directors who are not parties to such action, suit or proceeding, even through
less than a quorum, (b) by a committee of such directors designated by majority
vote of such directors, even though less than a quorum, (c) if there are no such
directors, or if such directors so direct, by independent legal

       

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

       counsel
(who may be the outside counsel regularly employed by the Company) in a written
opinion, or (d) the stockholders of the Company, as the Company’s Board of
Directors shall determine.  Notwithstanding such determination, the
right to indemnification or advances of Costs and Expenses as provided in this
agreement shall be enforceable by you in the Court of Chancery.  The
burden of proving that indemnification is not appropriate shall be on the
Company.   Neither the failure of the Company (including its
Board of Directors or independent legal counsel) to have made a determination
prior to the commencement of such action that indemnification is proper in the
circumstances because you have met the applicable standard of conduct, nor an
actual determination by the Company (including its Board of Directors or
independent legal counsel) that you have not met such applicable standard of
conduct shall be a defense to the action or create a presumption that you have
not met the applicable standard of conduct.  Costs and expenses,
including counsel fees, reasonably incurred by you in connection with
successfully establishing your right to indemnification, in whole or in part, in
any such action shall also be indemnified by the Company.

       

      8.           You
agree to give prompt notice to the Company of any claim with respect to which
you seek indemnification and, unless a conflict of interest shall exist between
you and the Company with respect to such claim, you will permit the Company to
assume the defense of such claim with counsel of its choice.  Whether
or not such defense is assumed by the Company, the Company will not be subject
to any liability for any settlement made without its consent.  The
Company will not consent to entry of any judgment or enter into any settlement
that does not include as an unconditional term thereof the giving by the
claimant or plaintiff to you of a release from all liability with respect to
such claim or litigation.  If the Company is not entitled to, or does
not elect to, assume the defense of a claim, the Company will not be obligated
to pay the fees and expenses of more than one counsel for you and any other
directors, officers or employees of the Company who are indemnified pursuant to
similar indemnity agreements with respect to such claim, unless a conflict of
interest shall exist between such indemnified party and any other of such
indemnified parties with respect to such claim, in which event the Company will
be obligated to pay the fees and expenses of an additional counsel for each
indemnified party or group of indemnified parties with whom a conflict of
interest exists.

       

      9.           The
Company’s obligation to indemnify you under this agreement is in addition to any
other rights to which you may otherwise be entitled by operation of law, vote of
the Company’s stockholders or directors or otherwise and will be available to
you whether or not the claim asserted against you is based upon matters that
occurred before the date of this agreement.

       

      10.           The
obligation of the Company to indemnify you with respect to Losses that you may
incur by reason of your service as a director, officer, employee, agent,
fiduciary or representative of the Company or a Related Entity, as provided
under this agreement, shall survive the termination of your service in such
capacities and shall inure to the benefit of your heirs, executors and
administrators.

       

      11.           The
Company agrees that, so long as you shall serve as a director, officer,
employee, agent, fiduciary or representative of the Company or any Related
Entity and thereafter so long as you shall be subject to any possible claim or
threatened, pending or completed action or proceeding by reason of your service
as a director, officer, employee, 

       

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      agent,
fiduciary or representative of the Company or any Related Entity, the Company
shall purchase and maintain in effect for your benefit valid, binding and
enforceable policies of directors and officers liability insurance (“D & O
Insurance”), covering Losses; provided, however, that the Company shall not be
required to maintain D & O Insurance in effect if such insurance is not
reasonably available or if, in the reasonable business judgment of the directors
of the Company, either (i) the premium cost for such insurance is substantially
disproportionate to the amount of coverage or (ii) the coverage provided by such
insurance is so limited by exclusions that there is insufficient benefit from
such insurance.

       

      12.           If
you are entitled under this agreement or otherwise to indemnification by the
Company for some or a portion of the Losses actually and reasonably incurred by
you but not, however, for the total amount thereof, the Company shall
nevertheless indemnify you for the portion of the Losses to which you are
entitled.

       

      13.           This
Agreement shall be effective as of the date set forth on the first page hereof
and shall apply to your acts or omissions that occurred prior to such date if
you were an officer, director, employee or other agent of the Company, or were
serving at the request of the Company as a director, officer, employee, agent,
fiduciary or representative of a Related Entity at the time such act or omission
occurred.

       

      14.           It
is the intention of the parties to this agreement to provide for indemnification
in all cases and under all circumstances where to do so would not violate
applicable law (and notwithstanding any limitations permitted, but not required
by statute) and the terms and provisions of this agreement shall be interpreted
and construed consistent with that intention.  Nonetheless, if any
provision of this agreement or any indemnification made under this agreement
shall for any reason be determined by the Court of Chancery to be invalid,
unlawful or unenforceable under current or future laws, such provision shall be
fully severable and, the remaining provisions of this agreement shall not
otherwise be affected thereby, but shall remain in full force and effect and, to
the fullest extent possible, shall be construed so as to give effect to the
intent manifested by the provision held invalid, illegal or
unenforceable.

       

      15.           This
agreement shall be governed by and interpreted and construed in accordance with
the laws of the State of Delaware, except that body of law relating to choice of
law.

       

      16.           No
amendment, modification, termination or cancellation of this Agreement shall be
effective unless in writing signed by both the Company and you.

       

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      Your
signature below will evidence your agreement and acceptance with respect to the
foregoing.

       

      
        	 
      	
                Very
      truly yours,

              
	 
      	 
      
	 
      	
                THE
      LGL GROUP, INC.

              
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	
                By:

              	 
      
	 
      	 
      	
                Name:

                Title:

              
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                AGREED
      TO AND ACCEPTED:

              	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      

      

      

      
        
          
          

        

        
          5ex10vto10k03725_1312007.htm

     

     

    Exhibit 10(v)

     

     

    
      THE
LGL GROUP, INC.

       

      RESTRICTED
STOCK AGREEMENT

       

      THIS RESTRICTED STOCK
AGREEMENT (this “Agreement”), dated ___________ __, 200__, is made by and
between The LGL Group, Inc., a Delaware corporation (the “Company”), and
________________ (the “Participant”).

       

      WHEREAS, the Company desires
to increase the proprietary and vested interest of the Participant in the
growth, development and financial success of the Company and its subsidiaries by
awarding shares of restricted stock to the Participant under the terms of the
Company’s 2001 Equity Incentive Plan (the “Plan”);

       

      NOW, THEREFORE, and in
consideration of the Participant’s service as a member of the Board of Directors
of the Company (the “Board”), the Company and the Participant agree as
follows:

       

      
        	
                1.

              	
                Definitions

              

      

       

      Any
capitalized term that is not defined in this Agreement shall have the meaning
given such term under the Plan.

       

      
        	
                2.

              	
                Grant
      of Restricted Shares

              

      

       

      
        	
                 
      

              	
                2.1

              	
                Grant; Grant
      Date

              

      

       

      On
___________ __, 200__, pursuant to the Plan and subject to the terms and
conditions of the Plan and this Agreement, the Company granted to the
Participant an award of __________ shares of the Company’s common stock, par
value $0.01 per share (the “Restricted Shares”).

       

      
        	
                 
      

              	
                2.2

              	
                Acceptance of
      Award

              

      

       

      The
Participant hereby (i) accepts the award of Restricted Shares described in
Section 2.1, (ii) represents and warrants to the Company that he or she has
received and read a copy of the Plan, (iii) agrees that the Restricted Shares
will be held by the Participant and his or her successors subject to (and will
not be disposed of except in accordance with) all of the restrictions, terms and
conditions contained in the Plan and this Agreement, and (iv) agrees that any
certificates issued for the Restricted Shares in accordance with Section 3.4 may
bear the following legend or such other legend as the Company deems
appropriate:

       

      “TRANSFERS
OF THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS OF THE
COMPANY’S 2001 EQUITY INCENTIVE PLAN AND A RESTRICTED STOCK AGREEMENT, DATED
___________ __, 200__, BY AND BETWEEN THE COMPANY AND THE HOLDER
THEREOF.  NO TRANSFER OF THE SHARES REPRESENTED BY THIS CERTIFICATE
SHALL BE VALID OR EFFECTIVE UNTIL THE CONDITIONS WITH RESPECT TO SUCH TRANSFER
CONTAINED IN SUCH PLAN AND AGREEMENT HAVE BEEN MET.  COPIES OF SUCH
PLAN AND AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST OF THE COMPANY’S CHIEF
FINANCIAL OFFICER.”

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                3.

              	
                Vesting,
      Forfeiture, Adjustments and Restrictions on Transfer of
    Shares

              

      

       

      
        	
                 
      

              	
                3.1

              	
                Vesting; Forfeiture of
      Restricted Shares

              

      

       

      (a)           The
Participant’s interest in the Restricted Shares shall become fully vested and
nonforfeitable as follows:
_______________________________________.  Notwithstanding the
foregoing, the Committee may at any time and from time to time accelerate the
vesting of the Restricted Shares, in whole or in part, as determined by the
Committee in its sole discretion.

       

      (b)           If
the Participant ceases to be a member of the Board prior to ___________ __,
200__ for any reason, any Restricted Shares that have not yet vested in
accordance with Section 3.1(a) shall be forfeited.  The Participant
shall have no further rights as a stockholder of the Company with respect to the
forfeited Restricted Shares beginning with the date of forfeiture, including,
without limitation, any right to receive any distribution payable to
stockholders of record on or after the date of such forfeiture.

       

      
        	
                 
      

              	
                3.2

              	
                Restrictions on
      Transfers of Restricted,
Shares

              

      

       

      (a)           Except
as otherwise provided in this Agreement, the Participant may not sell, assign,
transfer, pledge or otherwise dispose of or encumber any of the Restricted
Shares, or any interest therein, until his or her rights in such Restricted
Shares vest and the restrictions set forth in this Section 3.2(a) lapse in
accordance with Section 3.2(b).  Any purported sale, assignment,
transfer, pledge or other disposition or encumbrance in violation of this
Agreement shall be void and of no effect and shall give no right to the
purported transferee.

       

      (b)           The
restrictions set forth in Section 3.2(a) shall lapse upon the earliest to occur
of (i) the Participant’s resignation from the Board or any other termination of
the Participant’s membership thereon; or (ii) a Change of Control.

       

      
        	
                 
      

              	
                3.3

              	
                Ownership
      Rights

              

      

       

      Except as
provided in Section 3.2, with respect to the Restricted Shares, the Participant
shall have all of the rights of a stockholder of the Company, including the
rights to vote the Restricted Shares and to receive any cash dividends declared
thereon.  Stock dividends, if any, issued with respect to the
Restricted Shares shall be treated as additional Restricted Shares subject to
the same restrictions, terms and conditions that apply with respect to, and
shall vest or be forfeited at the same time as, the Restricted Shares with
respect to which such stock dividends are issued.

       

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      
        	
                 
      

              	
                3.4

              	
                Stock
      Certificates

              

      

       

      As soon
as practicable after a grant date and the execution and delivery of this
Agreement by the Participant and the Company, the Participant shall be issued
stock certificates in respect of the Restricted Shares that will be registered
in his or her name, and shall bear whatever legend the Company deems
appropriate, including, but not limited to, the legend set forth in Section
2.2.  Such stock certificates shall be held in custody by the Company
(or in trust by a trustee) until the Restricted Shares become vested and all
other conditions of delivery set forth in the Plan and this Agreement are
satisfied.

       

      
        	
                 
      

              	
                3.5

              	
                Certain
      Restrictions

              

      

       

      By
accepting the Restricted Shares, the Participant agrees that if, at the time of
delivery of certificates for the Restricted Shares issued hereunder, any
subsequent sale of such Restricted Shares is not covered by an effective
registration statement under the Securities Act of 1933, as amended, (the
“Act”), the Participant will acquire the Restricted Shares for the Participant’s
own account and without a view to resale or distribution in violation of the Act
or any other securities law.  The Participant may be required by the
Company to give a representation in writing that he or she is acquiring the
securities for his or her own account for investment and not with a view to, or
for sale in connection with, the distribution of any part
thereof.  Furthermore, the Participant may be required to enter into
such written representations, warranties and agreements as the Company may
reasonably request in order to comply with the Act or any other securities law
or with this Agreement.  The Company shall not be obligated to issue
the Restricted Shares pursuant to this grant if, in the opinion of counsel to
the Company, the Restricted Shares to be so issued are required to be registered
or otherwise qualified under the Act or under any other applicable statute,
regulation or ordinance affecting the sale of securities, unless and until such
Restricted Shares have been so registered or otherwise qualified.

       

      
        	
                4.

              	
                Miscellaneous

              

      

       

      
        	
                 
      

              	
                4.1

              	
                Administration

              

      

       

      The
Committee, or in lieu of the Committee, the Board, shall have the power to
interpret the Plan and this Agreement, and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent
therewith and to interpret or revoke any such rules.  All actions
taken and all interpretations and determinations made by the Committee, or in
lieu of the Committee, the Board, shall be final and binding upon the
Participant, the Company and all other interested persons.

       

      
        	
                 
      

              	
                4.2

              	
                Reorganization of
      Company and Subsidiaries

              

      

       

      The
existence of this Agreement shall not, in any way, affect the right or power of
the Company or its stockholders to make or authorize any or all adjustments,
recapitalizations, reorganizations or other changes in the Company’s capital
structure or business, any merger or consolidation of the Company, any issue of
bonds, debentures, preferred or prior preference stock ahead of or affecting the
Restricted Shares or the rights thereof, the dissolution or liquidation of the
Company, any sale or transfer of all or any part of its assets or business, or
any other corporate act or proceeding, whether of a similar character or
otherwise.

       

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      
        	
                 
      

              	
                4.3

              	
                Taxes

              

      

       

      The
Participant understands that he or she (and not the Company) shall be
responsible for any tax obligation that may arise as a result of the
transactions contemplated by this Agreement, and shall pay to the Company the
amount determined by the Company to be such tax obligation at the time such tax
obligation arises.  If the Participant fails to make such payment, the
Company, in its sole discretion, may permit the Participant to satisfy his or
her tax obligation through the withholding of that number of Restricted Shares
necessary to satisfy the tax obligations.  In such instance, the
withheld shares shall not be delivered to the Participant and Participant shall
have no further rights as a stockholder of the Company with respect to such
shares.  The Participant shall notify the Company within 10 days after
any election made pursuant to Section 83(b) of the Internal Revenue Code of
1986, as amended (the “Code”).

       

      THE
PARTICIPANT ACKNOWLEDGES THAT IT IS THE PARTICIPANT’S SOLE RESPONSIBILITY AND
NOT THE COMPANY’S TO FILE TIMELY AN ELECTION UNDER SECTION 83(b) OF THE CODE, IN
THE EVENT THAT THE PARTICIPANT DESIRES TO MAKE SUCH ELECTION.

       

      
        	
                 
      

              	
                4.4

              	
                No Representation or
      Commitment Regarding Tax
Consequences

              

      

       

      The
Company makes no representation or commitment that any federal or state tax
treatment will apply or be available to any person eligible for benefits under
this Agreement.

       

      
        	
                 
      

              	
                4.5

              	
                Entire Agreement;
      Amendment

              

      

       

      This
Agreement, together with the Plan, constitutes the entire agreement between the
parties with respect to the subject matter hereof.  Any term or
provision of this Agreement may be waived at any time by the party which is
entitled to the benefits thereof, and any term or provision of this Agreement
may be amended or supplemented at any time by the mutual consent of the parties
hereto, except that any waiver of any term or condition, or any amendment, of
this Agreement must be in writing.  Notwithstanding the foregoing,
this Agreement may be amended from time to time, without the consent of the
Participant, as may be necessary or appropriate to comply with the provisions of
Section 409A of the Code and Treasury Regulations and other Internal Revenue
Service guidance promulgated thereunder.

       

      
        	
                 
      

              	
                4.6

              	
                Severability

              

      

       

      In the
event that any provision of this Agreement is held to be illegal, invalid, or
unenforceable for any reason, such provision shall be fully severable, and this
Agreement shall be construed and enforced as if the illegal, invalid, or
unenforceable provision had never been included herein.

       

      
        	
                 
      

              	
                4.7

              	
                Governing
      Law

              

      

       

      This
Agreement shall be governed by, and interpreted in accordance with, the laws of
the State of Delaware without regard to its principles of conflict of
laws.

       

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      
        	
                 
      

              	
                4.8

              	
                Successors

              

      

       

      This
Agreement shall be binding upon and inure to the benefit of the successors,
assigns and heirs of the respective parties.

       

      
        	
                 
      

              	
                4.9

              	
                Notices

              

      

       

      All
notices or other communications made or given in connection with this Agreement
shall be in writing and shall be deemed to have been duly given when delivered
or mailed by registered or certified mail, return receipt requested, to those
listed below at their following respective addresses or at such other address as
each may specify by notice to the other.  Except as otherwise provided
in this Agreement, each such notice shall be deemed given when delivered in
person or by facsimile transmission, or on a date that is four days after it is
mailed in any post office or branch post office regularly maintained by the
United States Postal Service (registered or certified, with postage and fees
prepaid and properly addressed), or one day after deposit with a reputable
overnight courier service and properly addressed.

       

      
        	 	
                If
      to the Participant:

              
	 	 
      
	 	
                ___________________

                2525
      Shader Road

                Orlando,
      FL 32804

              
	 	 
      
	 	
                If
      to the Company:

              
	 	 
      
	 	
                LGL
      Group, Inc.

                2525
      Shader Road

                Orlando,
      FL 32804

                Attention:  Chief
      Executive Officer

              

      

      

      
        	
                 
      

              	
                4.10

              	
                Waiver

              

      

       

      The
failure of a party to insist upon strict adherence to any term of this Agreement
on any occasion shall not be considered a waiver thereof or deprive that party
of the right thereafter to insist upon strict adherence to that term or any
other term of this Agreement.

       

      
        	
                 
      

              	
                4.11

              	
                Titles;
      Construction

              

      

       

      Titles
are provided herein for convenience only and are not to serve as a basis for
interpretation or construction of the Agreement.  The masculine
pronoun shall include the feminine and neuter and the singular shall include the
plural, when the context so indicates.

       

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      
         

        
          	
                   
      

                	
                  4.12

                	
                  Not a Contract of
      Employment or Service; No Acquired
  Rights.

                

        

      

       

      The
adoption and maintenance of this Agreement shall not be deemed to be a contract
of employment or service between the Company and any person.

       

      IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the
day and year first above written.

       

      

      
        	 
      	
                THE
      LGL GROUP, INC.

              
	 
      	 
      
	 
      	 
      
	 
      	
                By:

              	 
      
	 
      	 
      	
                Name:

              	 
      
	 
      	 
      	
                Title:

              	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      

      

      

      

      
        
          
          

        

        
          6

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