Common use of Time Vesting Incentive Securities Clause in Contracts

Time Vesting Incentive Securities. The Time Vesting Incentive Securities will vest and become Vested Securities as follows: (i) 25% of each class will vest and become Vested Securities on the first anniversary of the Closing; and (ii) 6.25% of each class will vest and become Vested Securities at the end of each calendar quarter during the three year period commencing on the date immediately following the first anniversary of the Closing. Notwithstanding the foregoing, (i) if the Executive’s Termination is a result of (A) the Executive’s death or permanent Disability, (B) a Termination of the Executive by the Company or one of its Subsidiaries without Cause, or (C) the Executive’s voluntary resignation for Good Reason (each of (A), (B) and (C), a “Good Reason”), the Time Vesting Incentive Securities which would have become vested and become Vested Securities in the 12 months following the Termination Date had the Executive’s employment continued for such 12 months will vest and become Vested Securities on the Termination Date, and (ii) all Time Vesting Incentive Securities shall be deemed to be 100% vested upon consummation of a Change in Control (but excluding a Change in Control resulting from a Public Offering).

Time Vesting Incentive Securities. The Time Vesting Incentive Securities will vest and become Vested Securities as follows: (i) 25with respect to New Securities, 40% of each class will vest and become Vested Securities on the first anniversary of the Closing; andapplicable Determination Date; (ii) with respect to the New Securities, 20% of each class will vest and become Vested Securities on each of the first, second and third anniversaries of the applicable Determination Date; (iii) with respect to Historical Securities, 68.75% of each class previously vested and became Vested Securities; (iv) with respect to Historical Securities, 6.25% of each class will vest and become Vested Securities at the end on each of each calendar quarter during the three year period commencing on the date immediately following the first anniversary of the Closing(a) June 17, 2013, (b) September 17, 2013, (c) December 17, 2013, (d) March 17, 2014 and (e) June 17, 2014. Notwithstanding the foregoing, (iI) if the Executive’s Termination is a result of (A) the Executive’s death or permanent Disability, (B) a Termination of the Executive by the Company or one of its Subsidiaries without Cause, or (C) the Executive’s voluntary resignation for Good Reason (each of (A), (B) and (C), a “Good Reason”), the Time Vesting Incentive Securities which would have become vested and become Vested Securities in the 12 months following the Termination Date had the Executive’s employment continued for such 12 months will shall vest and become Vested Securities on the Termination Date, Date and (iiII) all Time Vesting Incentive Securities shall be deemed to be 100% vested upon consummation of a Change in Control (but excluding a Change in Control resulting from a Public Offering).