SEC Contract Filing

Filing Date: 2016-03-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>3
<FILENAME>v434023_ex10-12.htm
<DESCRIPTION>EXHIBIT 10.12
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.12</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">RESTRICTED STOCK AWARD AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">UNDER THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Medical
transcription billing, corp.</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">2014 EQUITY INCENTIVE PLAN</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>This
Restricted Stock Award Agreement</B></FONT> (this &ldquo;<B><I>Agreement</I></B>&rdquo;) is made on this 4th day of January, 2016
by and between Medical Transcription Billing, Corp., a Delaware Corporation (the &ldquo;<B><I>Corporation</I></B>&rdquo;), and
<U>________</U> (the &ldquo;<B><I>Grantee</I></B>&rdquo; or &ldquo;<B><I>Executive</I></B>&rdquo; or &ldquo;<B><I>Non-Employee
Director</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Background</U></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Corporation maintains the Medical Transcription Billing, Corp. 2014 Equity Incentive Plan (the &ldquo;<B><I>Plan</I></B>&rdquo;)
for the benefit of its employees, directors and consultants. Except as otherwise specified herein or unless the context herein
requires otherwise, capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the
Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Plan permits awards of Restricted Stock subject to the terms of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Agreement</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>Now,
Therefore</B>,</FONT> in consideration of these premises and the agreements set forth herein, the parties, intending to be legally
bound hereby, agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Grant
of Shares</U>. Subject to the terms and conditions hereof and those set forth in the Plan, the Corporation hereby agrees to grant
to the Grantee, and the Grantee hereby agrees to accept from the Corporation, <U>__________</U> shares of the Restricted Stock
(the &ldquo;<B><I>Shares</I></B>&rdquo;). The certificate(s) for the Shares shall be registered in the name of the Grantee and
shall be legended as required under the Plan, this Agreement, and/or applicable law. The term &ldquo;<B><I>Shares</I></B>&rdquo;
refers to the Shares granted hereunder and all securities received in replacement of the Shares or as stock dividends or splits,
all securities received in replacement of the Shares in a recapitalization, merger, reorganization, exchange or the like, and all
new, substituted or additional securities or other properties to which the Grantee is entitled by reason of the Grantee&rsquo;s
ownership of the Shares. Shares of Restricted Stock that have vested in accordance with this Agreement shall be delivered (via
certificate or such other method as the Company determines) to the Grantee as soon as practicable after vesting occurs. To the
extent that Grantee does not vest in any shares of Restricted Stock, all interest in such shares shall be forfeited. The Grantee
has no right or interest in any share of Restricted Stock forfeited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Vesting
of Shares</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;</FONT><U>Vesting