Common use of Vesting of Interests in the Grant Clause in Contracts

Vesting of Interests in the Grant. The Participant will vest interests in the grant over a three (3) year period at a rate of 33 1/3% on each anniversary of the grant. Further, if the Participant voluntarily terminates employment for any reason, but violates the noncompetition/nonsolicitation provisions of the Employment Agreement, any interests that have not yet been distributed will be forfeited.