First Vesting Sample Clauses
First Vesting. Subject to continued employment with Crown or one of its affiliates, 65% of the Achieved Performance RSUs shall vest and become nonforfeitable when the fourth Major Distribution Agreement is Renewed in accordance with one of Section 2(b)(i) A-E above (the “First Vesting”).
First Vesting. Upon the occurrence of the First Vesting Event, one third of the membership units of the Company issued and transferred to Alteon under Section 8.1, that is 51,471 units, shall immediately vest. Company shall immediately notify Alteon of the occurrence of the First Vesting Event. Such units vested by this occurrence will be 10 nonrefundable and nonassessable, and the issuance and transfer to Alteon shall be irrevocable and independent of any obligations of Alteon under this Agreement.