Common use of Time-Vesting RSUs Clause in Contracts

Time-Vesting RSUs. (i) The Company hereby grants the Participant 2,333,334 RSUs as of the Date of Grant (the “Time-Vesting RSUs”), with one-third of the Time-Vesting RSUs being fully vested upon the Date of Grant (the “First Tranche”) and the remaining Time-Vesting RSUs eligible to become vested in two equal annual installments on each of the first and second anniversaries of the Date of Grant (each, a “Subsequent Tranche”), subject to the Participant’s continued employment with the Company or any of its Affiliates through the applicable vesting date. (ii) The number of Time-Vesting RSUs eligible to vest on any vesting date shall be rounded down to the nearest whole share and any fractional Time-Vesting RSU reduced by such rounding shall be aggregated and the Time-Vesting RSUs resulting from such aggregation shall vest on the final applicable vesting date. (iii) The First Tranche of the Time-Vesting RSUs shall be settled in an equal number of shares of Common Stock within 30 days following the six-month anniversary of the Date of Grant. Each Subsequent Tranche of the Time-Vesting RSUs shall be settled in an equal number of shares of Common Stock within 30 days following the applicable vesting date.

Time-Vesting RSUs. (i) The Company hereby grants the Participant 2,333,334 520,834 RSUs as of the Date of Grant (the “Time-Vesting RSUs”), with one-third of the Time-Vesting RSUs being fully vested upon the Date of Grant (the “First Tranche”) and the remaining Time-Vesting RSUs eligible to become vested in two equal annual installments on each of the first and second anniversaries of the Date of Grant (each, a “Subsequent Tranche”), subject to the Participant’s continued employment with the Company or any of its Affiliates through the applicable vesting date. (ii) The number of Time-Vesting RSUs eligible to vest on any vesting date shall be rounded down to the nearest whole share and any fractional Time-Vesting RSU reduced by such rounding shall be aggregated and the Time-Vesting RSUs resulting from such aggregation shall vest on the final applicable vesting date. (iii) The First Tranche of the Time-Vesting RSUs shall be settled in an equal number of shares of Common Stock within 30 days following the six-month anniversary of the Date of Grant. Each Subsequent Tranche of the Time-Vesting RSUs shall be settled in an equal number of shares of Common Stock within 30 days following the applicable vesting date.