Common use of Vesting of Common Shares Clause in Contracts

Vesting of Common Shares. (a) Subject to the terms and conditions of Sections 3(b), 3(c) and 4 hereof, Grantee’s right to receive the Common Shares covered by this agreement shall become nonforfeitable to the extent of one-quarter (1/4) of the Common Shares covered by this agreement after Grantee shall have been in the continuous employ of the Company or a subsidiary for one full year from the Date of Grant and to the extent of an additional one-quarter (1/4) thereof after each of the next three successive years thereafter during which Grantee shall have been in the continuous employ of the Company or a subsidiary. For purposes of this agreement, “subsidiary” shall mean a corporation, partnership, joint venture, unincorporated association or other entity in which the Company has a direct or indirect ownership or other equity interest. For purposes of this agreement, the continuous employment of Grantee with the Company or a subsidiary shall not be deemed to have been interrupted, and Grantee shall not be deemed to have ceased to be an employee of the Company or a subsidiary, by reason of the transfer of his employment among the Company and its subsidiaries.

Vesting of Common Shares. (a) Subject to the terms and conditions of Sections 3(b), 3(c) and 4 hereof, Grantee’s right to receive the Common Shares covered by this agreement shall become nonforfeitable to the extent of one-quarter half (1/41/2) of the Common Shares covered by this agreement after Grantee shall have been in the continuous employ of the Company or a subsidiary for one two full year years from the Date of Grant and to the extent of an additional one-quarter fourth (1/4) thereof after each of the next three two (2) successive years thereafter during which Grantee shall have been in the continuous employ of the Company or a subsidiary. For purposes of this agreement, “subsidiary” shall mean a corporation, partnership, joint venture, unincorporated association or other entity in which the Company has a direct or indirect ownership or other equity interest. For purposes of this agreement, the continuous employment of Grantee with the Company or a subsidiary shall not be deemed to have been interrupted, and Grantee shall not be deemed to have ceased to be an employee of the Company or a subsidiary, by reason of the transfer of his employment among the Company and its subsidiaries.

Vesting of Common Shares. (a) Subject to the terms and conditions of Sections 3(b), 3(c) and 4 hereof, Grantee’s 's right to receive the Common Shares covered by this agreement shall become nonforfeitable to the extent of one-quarter (1/4) 6,000 of the Common Shares covered by this agreement after Grantee CL: 520453v2 shall have been in the continuous employ of the Company or a subsidiary for one full year from the Date of Grant and to the extent of an additional one-quarter (1/4) 6,000 thereof after each of the next three successive years thereafter and 26,000 thereof in the fifth year during which Grantee shall have been in the continuous employ of the Company or a subsidiary. For purposes of this agreement, “"subsidiary” " shall mean a corporation, partnership, joint venture, unincorporated association or other entity in which the Company has a direct or indirect ownership or other equity interest. For purposes of this agreement, the continuous employment of Grantee with the Company or a subsidiary shall not be deemed to have been interrupted, and Grantee shall not be deemed to have ceased to be an employee of the Company or a subsidiary, by reason of the transfer of his employment among the Company and its subsidiaries.

Vesting of Common Shares. (a) Subject to the terms and conditions of Sections 3(b), 3(c) and 4 hereof, Grantee’s 's right to receive the Common Shares covered by this agreement shall become nonforfeitable to the extent of one-quarter one- third (1/41/3rd) of the Common Shares covered by this agreement restricted-cja.doc after Grantee shall have been in the continuous employ of the Company or a subsidiary for one full year from the Date of Grant and to the extent of an additional one-quarter third (1/41/3rd) thereof after each of the next three two successive years thereafter during which Grantee shall have been in the continuous employ of the Company or a subsidiary. For purposes of this agreement, “"subsidiary” " shall mean a corporation, partnership, joint venture, unincorporated association or other entity in which the Company has a direct or indirect ownership or other equity interest. For purposes of this agreement, the continuous employment of Grantee with the Company or a subsidiary shall not be deemed to have been interrupted, and Grantee shall not be deemed to have ceased to be an employee of the Company or a subsidiary, by reason of the transfer of his employment among the Company and its subsidiaries.