Common use of Expiration of Grant Clause in Contracts

Expiration of Grant. Except as may otherwise be provided in this Award Agreement for the earlier termination of the Equity Appreciation Rights, the term of the Equity Appreciation Rights shall begin on the Grant Date and will continue for Time-based Equity Appreciation Rights for a period of ten (10) years from the Grant Date, and will continue for First Hurdle Equity Appreciation Rights and Second Hurdle Equity Appreciation Rights (together “Performance-based Equity Appreciation Rights”) for a period of (A) ten (10) years from the date of this Award Agreement, or (B) four (4) years after the respective commencement of Vesting of the First Hurdle Equity Appreciation Rights or Second Hurdle Equity Appreciation Rights, whichever is longer. If any Hurdle or Hurdles have not been achieved as of the tenth (10th) anniversary of the Grant Date, then on such tenth (10th) anniversary, the Performance-based Equity Appreciation Rights corresponding to such Hurdle or Hurdles shall expire.

Expiration of Grant. Except as may otherwise be provided in this Award Agreement for the earlier termination of the Equity Appreciation Rights, the term of the Equity Appreciation Rights shall begin on the Grant Date and will continue for Time-based Equity Appreciation Rights for a period of ten (10) years from the Grant Date, and will continue for First Hurdle Equity Appreciation Rights and Second Hurdle Equity Appreciation Rights (together “Performance-based Equity Appreciation Rights”) for a period of (A) ten (10) years from the date of this Award Agreement, or (B) four (4) years after the respective commencement of Vesting of the First Hurdle Equity Appreciation Rights or Second Hurdle Equity Appreciation Rights, whichever is longerperiod ends later. If any Hurdle or Hurdles have not been achieved as of the tenth (10th) anniversary of the Grant Date, then on such tenth (10th) anniversary, the Performance-based Equity Appreciation Rights corresponding to such Hurdle or Hurdles shall expire.