Common use of Vesting of Share Units Clause in Contracts

Vesting of Share Units. Except for Share Units that vest pursuant to Sections 6(b) and 6(c) of this Award Agreement, each Share Unit granted hereunder shall vest and be settled as follows: (i) if the Triggering Event is a Qualified Event, the Share Units subject to this Award will vest and settle in three equal installments on each of the first three anniversaries of the Triggering Event and (ii) if the Triggering Event is a Change in Control, 100% of the Share Units subject to this Award will vest and settle on the one-year anniversary of the Triggering Event (each such date that all or a portion of the Share Units vest, a “Vesting Date”); provided that the Participant is employed with the Company through each applicable Vesting Date; and provided further that in no event will the Share Units granted pursuant to this Award Agreement vest or be settled unless a Triggering Event occurs no later than the fifth (5th) anniversary of the Vesting Commencement Date.