Common use of Time Vesting Condition Clause in Contracts

Time Vesting Condition. Except as otherwise provided in Section 4(b), one-third (1/3) of the Stock Appreciation Rights will vest on the first anniversary of the Grant Date, one-third (1/3) of the Stock Appreciation Rights will vest on the second anniversary of the Grant Date and the remaining one-third (1/3) of the Stock Appreciation Rights will vest on the third anniversary of the Grant Date (each, a “Scheduled Vesting Date”), subject to Participant’s continued employment with the applicable Scheduled Vesting Date and the other terms and conditions set forth in US.351988748.03 3

Time Vesting Condition. Except as otherwise provided in Section 4(b), one-third (1/3) 20% of the Stock Appreciation Rights will vest on the first anniversary of the Grant Date, one-third (1/3) 20% of the Stock Appreciation Rights will vest on the second anniversary of the Grant Date and the remaining one-third (1/3) 60% of the Stock Appreciation Rights will vest on the third anniversary of the Grant Date (each, a “Scheduled Vesting Date”), subject to Participant’s continued employment with the applicable Scheduled Vesting Date and the other terms and conditions set forth in US.351988748.03 3this Agreement.