Common use of Annual Vesting Clause in Contracts

Annual Vesting. Subject to Section 5(c) of this Agreement, the Option shall vest and become exercisable, subject to continued employment (except in the event of Retirement (as defined below)), in four equal annual installments with twenty-five percent (25%) of the Option vesting on each of the first four anniversaries of the Grant Date (each, a “Vesting Date”). If the Participant’s employment with the Corporation terminates for any reason prior to a Vesting Date, the unvested portion of the Option shall immediately be forfeited for no consideration.

Annual Vesting. Subject to Section 5(c) of this Agreement, the Option shall vest and become exercisable, subject to continued employment (except in employment, on the event of Retirement (as defined below)), in four equal annual installments with twenty-five percent (25%) of the Option vesting dates specified on each of the first four anniversaries of the Grant Date Schedule I (each, a “Vesting Date”). If the Participant’s employment with the Corporation Company terminates for any reason prior to a Vesting Date, the unvested portion of the Option shall immediately be forfeited for no consideration.

Annual Vesting. Subject to Section 5(c) of this Agreement, the Option shall vest and become exercisable, subject to continued employment (except in the event of Retirement (as defined below))employment, in four equal annual installments with twenty-five percent (25( %) of the Option vesting on [each of the first four anniversaries of the Grant Date Date] (each, a “Vesting Date”). If the Participant’s employment with the Corporation terminates for any reason prior to a Vesting Date, the unvested portion of the Option shall immediately be forfeited for no consideration.

Annual Vesting. Subject to Section 5(c) of this Agreement, the Option shall vest and become exercisable, subject to continued employment (except in employment, on the event of Retirement (as defined below)), in four equal annual installments with twenty-five percent (25%) of the Option vesting dates specified on each of the first four anniversaries of the Grant Date Schedule I (each, a “Vesting Date”). If the Participant’s employment with the Corporation Company terminates for any reason prior to a Vesting Date, the unvested portion of the Option shall immediately be forfeited for no consideration..