Service Vesting Condition. Except as otherwise provided in Section 3 hereof, the Shares subject to the Option will satisfy the service-vesting condition based on Participant’s continued employment with the Company or any Affiliate over a period of forty-eight (48) months from the Grant Date, with one forty-eighth (1/48th) vesting on the first monthly anniversary of the Grant Date and one forty-eighth (1/48th) vesting on each monthly anniversary thereafter.
Appears in 2 contracts
Sources: Employment Agreement, Employment Agreement (Toys R Us Inc)