Common use of Vesting and Forfeiture of Restricted Shares Clause in Contracts

Vesting and Forfeiture of Restricted Shares. (a) The Restricted Shares shall vest in three cumulative annual installments, as follows: (i) one-third of the Restricted Shares shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Restricted Shares shall vest on the second anniversary of the Grant Date; and (iii) all remaining Restricted Shares shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the vesting date in order for the Restricted Shares to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than death or Mandatory Retirement, any Restricted Shares that have not vested as of the date of such termination of Employment shall be forfeited to the Corporation. (b) The Restricted Shares shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) above, upon: (i) termination of the Participant’s Employment due to death; (ii) termination of the Participant’s Employment due to Mandatory Retirement; or (iii) a Change in Control of the Corporation, provided that as of such Change in Control the Participant has been in continuous Employment since the Grant Date.

Vesting and Forfeiture of Restricted Shares. (a) The Restricted Shares shall vest in three cumulative annual installments, as follows: (i) one-third of the Restricted Shares shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Restricted Shares shall vest on the second anniversary of the Grant Date; and (iii) all remaining Restricted Shares shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date for each installment in order for the applicable Restricted Shares to vestvest on such date. If the Employment of the Participant is terminated for any reason reason, except as provided in subsection (including non-Mandatory Retirementb) other than death or Mandatory Retirementbelow, any Restricted Shares that have not vested as of the date of such termination of Employment shall be forfeited to the Corporation. (b) The Restricted Shares shall immediately vest in full, irrespective of the limitations set forth in subparagraph subsection (a) above, upon: (i) termination of the Participant’s 's Employment due to death; (ii) termination of the Participant’s 's Employment due to Mandatory Retirement; or (iii) a Change in Control of the Corporation, provided that as of such Change in Control the Participant has been in continuous Employment since the Grant Date.

Vesting and Forfeiture of Restricted Shares. (a) The Restricted Shares Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Restricted Shares Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Restricted Shares Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Restricted Shares Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the vesting date in order for the Restricted Shares to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than death or Mandatory Retirement, any Restricted Shares that have not vested as of the date of such termination of Employment shall be forfeited to the Corporation. (b) The Restricted Shares shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) above, upon: (i) termination of the Participant’s Employment due to death; (ii) termination of the Participant’s Employment due to Mandatory Retirement; or (iii) a Change in Control of the Corporation, provided that as of such Change in Control the Participant has been in continuous Employment since the Grant Date.

Vesting and Forfeiture of Restricted Shares. (a) The Restricted Shares shall vest in three cumulative annual installments, as follows: (i) one-third of the Restricted Shares shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Restricted Shares shall vest on the second anniversary of the Grant Date; and (iii) all the remaining one-third of the Restricted Shares shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date for each installment in order for the applicable Restricted Shares to vestvest on such date. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than death or Mandatory Retirementdeath, any Restricted Shares that have not vested as of the date of such termination of Employment shall be forfeited to the Corporation. (b) The Restricted Shares shall immediately vest in full, irrespective of the limitations set forth in subparagraph subsection (a) above, upon: (i) upon termination of the Participant’s Employment due to death; (ii) termination of the Participant’s Employment due to death or Mandatory Retirement; or (iii) a Change in Control of the Corporation, provided that as of such Change in Control the Participant has been in continuous Employment since the Grant Date.

Vesting and Forfeiture of Restricted Shares. (a) The Restricted Shares shall vest in three cumulative annual installments, as follows: (i) one-third of the Restricted Shares shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Restricted Shares shall vest on the second anniversary of the Grant Date; and (iii) all the remaining one-third of the Restricted Shares shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date for each installment in order for the applicable Restricted Shares to vestvest on such date. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than death or Mandatory Retirementdeath, any Restricted Shares that have not vested as of the date of such termination of Employment shall be forfeited to the Corporation. (b) The Restricted Shares shall immediately vest in full, irrespective of the limitations set forth in subparagraph subsection (a) above, upon: (i) termination of the Participant’s 's Employment due to death; (ii) termination of the Participant’s Employment due to Mandatory Retirement; or (iiiii) a Change in Control of the Corporation, provided that as of such Change in Control the Participant has had been in continuous Employment since the Grant Date.. NOR123P (May 2012) 1