Common use of Time-Based Restricted Stock Clause in Contracts

Time-Based Restricted Stock. On each of the first, second and third anniversaries of the Date of Grant, thirty-three and one-third percent (33 1/3%) of the Time-Based Restricted Stock shall vest and no longer be subject to cancellation pursuant to Section 4 or the transfer restrictions set forth in Section 7.

Time-Based Restricted Stock. On each of the first, second second, third and third fourth anniversaries of the Date of GrantGrant (each an “Anniversary Date”), thirtytwenty-three and one-third five percent (33 1/325%) of the Time-Based Restricted Stock shall vest and no longer be subject to cancellation pursuant to Section 4 or the transfer restrictions set forth in Section 7.