Common use of Grant of Restricted Share Unit Award Clause in Contracts

Grant of Restricted Share Unit Award. The Company hereby grants to the Participant on or as soon as practicable after the date of execution of this Agreement the number of Time RSUs specified above. The Participant agrees and understands that except as provided by the Plan nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such shares, except as otherwise specifically provided for in the Plan or this Agreement. The Participant also agrees and understands that the Time RSUs are not Shares and do not confer rights on the Participant as a Shareholder.

Grant of Restricted Share Unit Award. The Company hereby grants to the Participant and shall issue to the Participant on or as soon as practicable after the date of execution of this Agreement the number of Time RSUs specified above. The Participant agrees and understands that except as provided by the Plan nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such shares, except as otherwise specifically provided for in the Plan or this Agreement. The Participant also agrees and understands that the Time RSUs are not Shares and do not confer rights on the Participant as a Shareholder.