This excerpt taken from the FRP 10-K filed Mar 25, 2005.
4. Grantees Rights with Respect to Restricted Stock.
(a) Rights as Stockholder. The Grantee shall have, with respect to all Restricted Stock, the right to vote such Restricted Stock, but shall otherwise enjoy none of the rights of a stockholder (including the right to receive dividends and Dividend Equivalents) unless and until the expiration of the Period of Restriction with respect to such Restricted Stock. Any securities issued to or received by the Grantee with respect to Restricted Stock as a result of a stock split, a combination of shares or any other change or exchange of the Restricted Stock for other securities, by reclassification, reorganization, distribution, liquidation, merger, consolidation, or otherwise, shall have the same status, be subject to the same restrictions and bear the same legend as the Shares of Restricted Stock such securities are issued for, and shall be held by the Company for as long as the Shares of Restricted Stock such securities are issued for are so held, unless otherwise determined by the Committee.
(b) Legend. Until the expiration of the Period of Restriction, each certificate evidencing Shares subject to the Grantees Restricted Stock shall be registered in the Grantees name and shall bear the following legend: THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) CONTAINED IN THE FAIRPOINT COMMUNICATIONS, INC. 2005 STOCK INCENTIVE PLAN AND A RESTRICTED STOCK AGREEMENT ENTERED INTO THEREUNDER, AND NEITHER THIS CERTIFICATE NOR THE SHARES REPRESENTED BY IT ARE ASSIGNABLE OR OTHERWISE TRANSFERABLE EXCEPT IN ACCORDANCE WITH SUCH PLAN AND AGREEMENT, COPIES OF WHICH ARE ON FILE WITH THE SECRETARY OF THE COMPANY.