Common use of Time-Based Shares Clause in Contracts

Time-Based Shares. Termination by the Company without Cause, by Grantee for Good Reason, due to Death, Disability, non-renewal by the Company of the Employment Agreement. In the event of termination of Grantee’s employment with the Company by virtue of: 1) termination by the Company without Cause; 2) termination by Grantee for Good Reason; 3) Grantee’s death or Disability; or 4) non-renewal by the Company of the Employment Agreement, all the Time-Based Shares unvested at the time of such termination shall immediately vest.