Common use of Vesting of Award Shares Clause in Contracts

Vesting of Award Shares. (a) Subject to Sections 2(b), (c), (d) and (e) below, all of Employee’s right, title and interest in and to the Award Shares is and shall be contingent upon and subject to the continued full time employment of Employee by the Company during the vesting periods (the “Vesting Periods”). At the end of each Vesting Period, and provided that Employee is then a full time employee of the Company, Employee shall be deemed to be fully vested without restriction in all of the Award Shares covered by that Vesting Period. Each Vesting Period begins on the effective date hereof.

Vesting of Award Shares. (a) Subject to Sections 2(b), (c), (d) and (ec) below, all of Employee’s right, title and interest in and to the Award Shares is and shall be contingent upon and subject to the continued full time employment of Employee by the Company during the vesting periods (the “Vesting Periods”). At the end of each Vesting Period, and provided that Employee is then a full time employee of the Company, Employee shall be deemed to be fully vested without restriction in all of the Award Shares covered by that Vesting Period. Each Vesting Period begins on the effective date hereof.. Award Shares Grant Date Vesting Date Shares Vested 20,000 January 1, 2007 January 1, 2008 All Shares