Common use of Gradual Exit Clause in Contracts

Gradual Exit. If the Applicable Threshold is not reached as of the first Change in Control or Realization Event, or if no such Change in Control or Realization Event has occurred, and if the Sponsor Shareholders receive Cash Proceeds (whether through a Change in Control, a Realization Event, extraordinary cash dividends or any combination of the foregoing) equal to the Applicable Threshold, then all unvested and non-forfeited Class B Performance Shares shall vest upon the achievement of such Applicable Threshold; provided that, subject to Sections 5(b) and 6 of the Agreement, the Employee remains continuously employed in active service by the Employer from the Grant Date through the date of such achievement of such Applicable Threshold.

Gradual Exit. If the Applicable Threshold is not reached as of the first Change in Control or Realization Event, or if no such Change in Control or Realization Event has occurred, and if the Sponsor Shareholders receive Cash Proceeds (whether through a Change in Control, a Realization Event, extraordinary cash dividends or any combination of the foregoing) equal to the Applicable Threshold, then all to the extent unvested and non-forfeited Class B forfeited, the Performance Shares Option shall vest upon the achievement of such Applicable Threshold; provided that, subject to Sections 5(b5(a) and 6 7 of the Agreement, the Employee remains continuously employed in active service by the Employer from the Grant Date through the date of such achievement of such Applicable Threshold.