Common use of INDEPENDENCE OF TIME AND PERFORMANCE VESTING Clause in Contracts

INDEPENDENCE OF TIME AND PERFORMANCE VESTING. The Company and Executive acknowledge that the Executive Securities constituting Performance Vesting Securities are subject, in addition to time vesting under this Section 2, to performance vesting as set forth in the Performance Vesting Agreement. The time vesting provisions of this Section 2 operate independently of the performance vesting provisions under the Performance Vesting Agreement. As such, (A) the terms "Time-Vested Securities" and "Un-Time-Vested Securities" as used herein refer only to whether particular Executive Securities have time vested in accordance with the terms of this Section 2 and do not indicate whether such Executive Securities that constitute Performance Vesting Securities have or have not also performance vested under the Performance Vesting Agreement, and (B) the terms "Performance-Vested Securities" and "Un-Performance-Vested Securities" (each defined below) as used herein refer only to whether particular Performance Vesting Securities have performance vested in accordance with the terms of the Performance Vesting Agreement and do not indicate whether such Performance Vesting Securities have or have not also time vested under this Section 2.

INDEPENDENCE OF TIME AND PERFORMANCE VESTING. The Company -------------------------------------------- and Executive acknowledge that the Executive Securities constituting Performance Vesting Securities are subject, in addition to time vesting under this Section 2, to performance vesting as set forth in the Performance Vesting Agreement. The time vesting provisions of this Section 2 operate independently of the performance vesting provisions under the Performance Vesting Agreement. As such, (A) the terms "Time-Vested Securities" and "Un-Time-Vested Securities" as used herein refer only to whether particular Executive Securities have time vested in accordance with the terms of this Section 2 and do not indicate whether such Executive Securities that constitute Performance Vesting Securities have or have not also performance vested under the Performance Vesting Agreement, and (B) the terms "Performance-Vested Securities" and "Un-Performance-Vested Securities" (each defined below) as used herein refer only to whether particular Performance Vesting Securities have performance vested in accordance with the terms of the Performance Vesting Agreement and do not indicate whether such Performance Vesting Securities have or have not also time vested under this Section 2.

INDEPENDENCE OF TIME AND PERFORMANCE VESTING. The Company and -------------------------------------------- Executive acknowledge that the Executive Securities constituting Performance Vesting Securities are subject, in addition to time vesting under this Section 2, to performance vesting as set forth in the Performance Vesting Agreement. The time vesting provisions of this Section 2 operate independently of the performance vesting provisions under the Performance Vesting Agreement. As such, (A) the terms "Time-Vested Securities" and "Un-Time-Vested Securities" as used herein refer only to whether particular Executive Securities have time vested in accordance with the terms of this Section 2 and do not indicate whether such Executive Securities that constitute Performance Vesting Securities have or have not also performance vested under the Performance Vesting Agreement, and (B) the terms "Performance-Vested Securities" and "Un-Performance-Vested Securities" (each defined below) as used herein refer only to whether particular Performance Vesting Securities have performance vested in accordance with the terms of the Performance Vesting Agreement and do not indicate whether such Performance Vesting Securities have or have not also time vested under this Section 2.