Common use of Time Vesting Shares Clause in Contracts

Time Vesting Shares. (i) Except as otherwise provided in Section 2(c)(ii) below, 45% of the shares of Executive Stock purchased hereunder (the "Time Vesting Shares") will become vested in accordance with the following schedule, if as of each such date Executive is still employed by the Company or any Subsidiary: CUMULATIVE PERCENTAGE OF TIME VESTING SHARES DATE VESTED ---- ------ At the Start Date 20% 1st Anniversary of the Start Date 36% 2nd Anniversary of the Start Date 52% 3rd Anniversary of the Start Date 68% 4th Anniversary of the Start Date 84% 5th Anniversary of the Start Date 100% (ii) If Executive ceases to be employed by the Company or its Subsidiaries on any date prior to an anniversary date listed above, the cumulative percentage of Time Vesting Shares to become vested will be determined on a pro rata basis according to the number of days elapsed since the prior anniversary date. Upon the occurrence of a Sale of the Company while Executive is still employed by the Company or its Subsidiaries, all Time Vesting Shares which have not yet become vested shall become vested at the time of such event. In the event the Company terminates Executive (other than for Cause) or in the event of Executive's death or disability (as reasonably determined by the Board or CEO) prior to the fifth anniversary of the Start Date and the Additional Benefits Requirements are satisfied as of the date of Executive's termination, death or disability as applicable, all Time Vesting Shares which have not become vested prior to the date of such termination shall become vested on such date. Subject to the preceding sentence, any Time Vesting Shares which have not become vested as of the date that Executive ceases to be employed by the Company or its Subsidiaries shall not vest after such date.

Time Vesting Shares. (i) Except as otherwise provided in Section 2(c)(ii) below, 4545.46% of the shares of Executive Stock purchased hereunder (the "Time Vesting Shares") will become vested in accordance with the following schedule, if as of each such date Executive is still employed by the Company or any Subsidiary: CUMULATIVE PERCENTAGE OF TIME VESTING SHARES DATE VESTED ---- ------ Cumulative Percentage of Time Date Vesting Shares Vested -------------- --------------------- At the Start Date Closing 20% 1st Anniversary of the Start Date Closing 36% 2nd Anniversary of the Start Date Closing 52% 3rd Anniversary of the Start Date Closing 68% 4th Anniversary of the Start Date Closing 84% 5th Anniversary of the Start Date Closing 100% (ii) If Executive ceases to be employed by the Company or its Subsidiaries on any date prior to an anniversary date listed above, the cumulative percentage of Time Vesting Shares to become vested will be determined on a pro rata basis according to the number of days elapsed since the prior anniversary date. Upon the occurrence of a Sale of the Company while Executive is still employed by the Company or its Subsidiaries, all Time Vesting Shares which have not yet become vested shall become vested at the time of such event. In the event the Company terminates Executive (other than for Cause) Cause or in the event as a result of Executive's death or disability (as reasonably determined by the Board or CEOdisability) prior to the fifth anniversary of the Start Date date of the Closing and the Additional Benefits Requirements are satisfied as of the date of Executive's termination, death or disability as applicable, all Time Vesting Shares which have not become vested prior to the date of such termination shall become vested on such date. Subject to the preceding sentence, any Any Time Vesting Shares which have not become vested as of the date that Executive ceases to be employed by the Company or its Subsidiaries shall not vest after such date.

Time Vesting Shares. (i) Except as otherwise provided in Section 2(c)(ii) below, 45% of the shares of Executive Stock purchased hereunder (the "Time Vesting Shares") will become vested in accordance with the following schedule, if as of each such date Executive is still employed by the Company or any Subsidiary: CUMULATIVE PERCENTAGE OF TIME VESTING SHARES DATE VESTED Cumulative Percentage of ------------------------ Time Vesting Shares ------------------- Date Vested ---- ------ At the Start Date 20% 1st Anniversary of the Start Date 36% 2nd Anniversary of the Start Date 52% 3rd Anniversary of the Start Date 68% 4th Anniversary of the Start Date 84% 5th Anniversary of the Start Date 100% (ii) If Executive ceases to be employed by the Company or its Subsidiaries on any date prior to an anniversary date listed above, the cumulative percentage of Time Vesting Shares to become vested will be determined on a pro rata basis according to the number of days elapsed since the prior anniversary date. Upon the occurrence of a Sale of the Company while Executive is still employed by the Company or its Subsidiaries, all Time Vesting Shares which have not yet become vested shall become vested at the time of such event. In the event the Company terminates Executive (other than for Cause) or in the event of Executive's death or disability (as reasonably determined by the Board or CEO) prior to the fifth anniversary of the Start Date and the Additional Benefits Requirements are satisfied as of the date of Executive's termination, death or disability as applicable, all Time Vesting Shares which have not become vested prior to the date of such termination shall become vested on such date. Subject to the preceding sentence, any Time Vesting Shares which have not become vested as of the date that Executive ceases to be employed by the Company or its Subsidiaries shall not vest after such date.

Time Vesting Shares. (i) Except as otherwise provided in Section 2(c)(ii) below, 45% of the shares of Executive Stock purchased hereunder (the "Time Vesting Shares") will become vested in accordance with the following schedule, if as of each such date Executive is still employed by the Company or any Subsidiary: CUMULATIVE PERCENTAGE OF TIME VESTING SHARES DATE VESTED Cumulative Percentage of Time Vesting Shares Date Vested ---- ------ At the Start Date 20% 1st Anniversary of the Start Date 36% 2nd Anniversary of the Start Date 52% 3rd Anniversary of the Start Date 68% 4th Anniversary of the Start Date 84% 5th Anniversary of the Start Date 100% (ii) If Executive ceases to be employed by the Company or its Subsidiaries on any date prior to an anniversary date listed above, the cumulative percentage of Time Vesting Shares to become vested will be determined on a pro rata basis according to the number of days elapsed since the prior anniversary date. Upon the occurrence of a Sale of the Company while Executive is still employed by the Company or its Subsidiaries, all Time Vesting Shares which have not yet become vested shall become vested at the time of such event. In the event the Company terminates Executive (other than for Cause) or in the event of Executive's death or disability (as reasonably determined by the Board or CEO) prior to the fifth anniversary of the Start Date and the Additional Benefits Requirements are satisfied as of the date of Executive's termination, death or disability as applicable, all Time Vesting Shares which have not become vested prior to the date of such termination shall become vested on such date. Subject to the preceding sentence, any Time Vesting Shares which have not become vested as of the date that Executive ceases to be employed by the Company or its Subsidiaries shall not vest after such date.