Common use of Period of Restriction – Graded Vesting Clause in Contracts

Period of Restriction – Graded Vesting. The Period of Restriction for this Award is _____ years (more than one), with the first year beginning on the date specified in part I above and each subsequent year beginning on its anniversary. After each period of time specified below, the Company will determine whether the Performance Measures applicable to the period were achieved, as specified in part I above. Based upon that determination, the Company will determine whether the Grantee vested in the correlating fraction of the Award of Restricted Stock for that period, all in accordance with the following schedule [below is an example]: PERIOD OF TIME FOR PERFORMANCE MEASURES FRACTION OF SHARES THAT VEST The first year 1/3 The second year 1/3 The third year 1/3

Period of Restriction – Graded Vesting. The Period of Restriction for this Award is _____ years (more than one), with the first year beginning on the date specified in part I above and each subsequent year beginning on its anniversary. After each period of time specified below, the Company will determine whether the Performance Measures applicable to the period were achieved, as specified in part I above. Based upon that determination, the Company will determine whether the Grantee vested in the correlating fraction of the Award of Restricted Stock for that period, all in accordance with the following schedule [below is an example]: PERIOD OF TIME FOR PERFORMANCE MEASURES FRACTION OF SHARES THAT VEST The first year 1/3 The second year 1/3 The third year 1/3