Common use of Service Condition Clause in Contracts

Service Condition. The service-based vesting condition shall be satisfied with respect to 50% of the Performance-Vesting Series A LTIP Awards on the third (3rd) anniversary of the Grant Date and 50% on the seventh (7th) anniversary of the Grant Date, provided that no Termination of Employment has occurred prior to the applicable Service-Vesting Date (the “Performance-Vesting Service Condition”). Notwithstanding the foregoing; provided that the Performance-Vesting Service Condition has been satisfied in respect of the relevant Performance-Vesting Series A LTIP Awards, the Seven-Year Share Price Hurdle may be satisfied (or deemed satisfied pursuant to Section 2(f)(ii)) after Termination of Employment due to death or Disability, but in no event later than the Seven-Year End Date. To the extent that any Seven-Year Share Price Hurdle has not been satisfied (or deemed satisfied pursuant to Section 2(f)(ii)) on or prior to the Seven-Year End Date, any then remaining unvested Performance-Vesting Series A LTIP Awards and related Tandem Common Shares shall be immediately forfeited and canceled without consideration as of such Seven-Year End Date.

Service Condition. The service-based vesting condition shall be satisfied with respect to 50% of the Performance-Vesting Series A LTIP Awards on the third (3rd) anniversary of the Grant Vesting Commencement Date and 50% on the seventh (7th) anniversary of the Grant Vesting Commencement Date, provided that no Termination of Employment has occurred prior to the applicable Service-Vesting Date (the “Performance-Vesting Service Condition”). Notwithstanding the foregoing; provided that the Performance-Vesting Service Condition has been satisfied in respect of the relevant Performance-Vesting Series A LTIP Awards, the Seven-Year Share Price Hurdle may be satisfied (or deemed satisfied pursuant to Section 2(f)(ii)) after Termination of Employment due to death or Disability, but in no event later than the Seven-Year End Date. To the extent that any Seven-Year Share Price Hurdle has not been satisfied (or deemed satisfied pursuant to Section 2(f)(ii)) on or prior to the Seven-Year End Date, any then remaining unvested Performance-Vesting Series A LTIP Awards and related Tandem Common Shares shall be immediately forfeited and canceled without consideration as of such Seven-Year End Date.