Time Vesting. (i) The Executive Securities purchased hereunder will vest annually over a two-year period, provided that the Executive is employed by the Company or one or more of its Subsidiaries as of each successive anniversary of the date hereof. Such Executive Securities shall vest as follows: 1st Anniversary 50.0% 2nd Anniversary 100.0% (ii) Immediately prior to the occurrence of a Qualified Change of Control or a Public Offering (whichever first occurs), all Executive Securities which have not yet become vested shall become vested at the time of such event.
Appears in 7 contracts
Samples: Executive Unit Agreement (University General Health System, Inc.), Executive Unit Agreement (University General Health System, Inc.), Executive Unit Agreement (University General Health System, Inc.)
