Time-Based Phantom Shares Clause Samples

Time-Based Phantom Shares. A percentage of the Time-Based Phantom Shares shall vest on the Vesting Dates set forth below if the Grantee remains employed with the Company through each Vesting Date: 70% December 31, 2014 100% December 31, 2017 The Grantee shall forfeit all Time-Based Phantom Shares that have not vested as of the Grantee’s Separation from Service Date.