Common use of 4Vesting Clause in Contracts

4Vesting. (a) The Restricted Units shall vest according to the following schedule, provided that Recipient remains continuously employed by BRCC as of each vesting date below: (A) 25% of the Restricted Units shall become vested on the first anniversary of this Agreement (such date, the “First Vesting Date”), and (B) the remaining 75% of the Restricted Units shall become vested ratably on a quarterly basis (at the end of each quarter) during the three-year period beginning on the First Vesting Date such that all of the Restricted Units shall become vested on the fourth anniversary of this Agreement. (b) Upon the occurrence of a Change in Control or Public Offering that closes prior to the First Vesting Date, if Recipient has been continuously employed by BRCC from the Grant Date through and including the date that is 90 days prior to the date of such Change in Control or Public Offering (provided, that Recipient’s employment was not terminated by BRCC for Cause within 90 days of the date of such Change in Control or Public Offering, in which case no Restricted Units shall become vested pursuant to this Section 1.4(b)), then 20% of the Restricted Units that have not yet become vested pursuant to Section 1.4(a) above shall become vested as of the closing of such Change in Control or Public Offering. For purposes of this Section 1.4(b), if the Company or one of its Subsidiaries merges with a “SPAC”, then such merger shall be deemed to constitute a Change in Control. Any Change in Control or Public Offering that closes after the First Vesting Date shall not result in any accelerated vesting of the Restricted Units. For the sake of clarity, and notwithstanding the provisions of Section 1.4(a) above, if such Change in Control or Public Offering closes prior to the First Vesting Date, then 20% of Recipient’s Restricted Units shall become vested as of such closing, with another 5% of Recipient’s Restricted Units becoming vested on the First Vesting Date, so that 25% of the Restricted Units are vested as of the First Vesting Date (provided that Recipient has been continuously employed by BRCC from the Grant Date through and including the First Vesting Date).

4Vesting. (a) The Restricted Units shall vest according to the following schedule, provided that Recipient remains continuously employed by BRCC as of each vesting date below: (A) 25% of the Restricted Units shall become vested on the first anniversary of this Agreement (such date, the “First Vesting Date”), and (B) the remaining 75% of the Restricted Units shall become vested ratably on a quarterly basis (at the end of each quarter) during the three-year period beginning on the First Vesting Date such that all of the Restricted Units shall become vested on the fourth anniversary of this Agreement. (b) Upon the occurrence of a Change in Control or Public Offering that closes prior to the First Vesting DateOffering, if Recipient has been continuously employed by BRCC from the Grant Date through and including the date that is 90 days prior to the date of such Change in Control or Public Offering (provided, that Recipient’s employment was not terminated by BRCC for Cause within 90 days of the date of such Change in Control or Public Offering, in which case no Restricted Units shall become vested pursuant to this Section 1.4(b)), then 20the Restricted Units shall become fully vested as follows: (i) if the Change in Control or Public Offering occurs on or between the Grant Date and December 31, 2020, then a total of 50% of the Restricted Units shall become vested upon such Change in Control or Public Offering (including both the Restricted Units that have not yet become are vested pursuant to Section 1.4(a) above and the Restricted Units that shall become vested as of the closing of such Change in Control or Public Offering. For purposes of pursuant to this Section 1.4(b), ); and (ii) if the Company or one of its Subsidiaries merges with a “SPAC”, then such merger shall be deemed to constitute a Change in Control. Any Change in Control or Public Offering that closes after the First Vesting Date shall not result in any accelerated vesting occurs on or between January 1, 2021 and December 31, 2021, then a total of 75% of the Restricted Units. For the sake of clarity, and notwithstanding the provisions of Section 1.4(a) above, if Units shall become vested upon such Change in Control or Public Offering closes prior (including both the Restricted Units that are vested pursuant to Section 1.4(a) above and the First Vesting DateRestricted Units that shall become vested pursuant to this Section 1.4(b)); and (iii) if the Change in Control or Public Offering occurs on or after January 1, 2022, then 20% all of Recipient’s the Restricted Units shall become vested as of such closing, with another 5% of Recipient’s Restricted Units becoming vested on the First Vesting Date, so that 25% of the Restricted Units are vested as of the First Vesting Date (provided that Recipient has been continuously employed by BRCC from the Grant Date through and including the First Vesting Date)vested.

4Vesting. (a) The Restricted Units shall vest according to the following schedule, provided that Recipient remains continuously employed by BRCC as of each vesting date below: (A) 25% of the Restricted Units shall become vested on the first anniversary of this Agreement (such date, the “First Vesting Date”), and (B) the remaining 75% of the Restricted Units shall become vested ratably on a quarterly basis (at the end of each quarter) during the three-year period beginning on the First Vesting Date such that all of the Restricted Units shall become vested on the fourth anniversary of this Agreement. (b) Upon the occurrence of a Change in Control or Public Offering that closes prior to the First Vesting DateOffering, if Recipient has been continuously employed by BRCC from the Grant Date through and including the date that is 90 days prior to the date of such Change in Control or Public Offering (provided, that Recipient’s employment was not terminated by BRCC for Cause within 90 days of the date of such Change in Control or Public Offering, in which case no Restricted Units shall become vested pursuant to this Section 1.4(b)), then 20the Restricted Units shall become fully vested as follows: (i) if the Change in Control or Public Offering occurs on or between the Grant Date and December 31, 2020, then a total of 50% of the Restricted Units shall become vested upon such Change in Control or Public Offering (including both the Restricted Units that have not yet become are vested pursuant to Section 1.4(a) above and the Restricted Units that shall become vested as of the closing of such Change in Control or Public Offering. For purposes of pursuant to this Section 1.4(b), ); and (ii) if the Company ▇▇▇▇▇▇.▇▇ Control ot Public Offering occurs on or one of its Subsidiaries merges with a “SPAC”between January 1, 2021 and December 31, 2021, then such merger shall be deemed to constitute a Change in Control. Any Change in Control or Public Offering that closes after the First Vesting Date shall not result in any accelerated vesting total of 75% of the Restricted Units. For the sake of clarity, and notwithstanding the provisions of Section 1.4(a) above, if Units shall become vested upon such Change in Control or Public Offering closes prior (including both the Restricted Units that are vested pursuant to Section I.4(a) above and the First Vesting DateRestricted Units that shall become vested pursuant to this Section 1.4(b)); and (iii) if the Change in Control or Public Offering occurs on or after January l, 2022, then 20% all of Recipient’s the Restricted Units shall become vested. (c) Restricted Units that have become vested as of such closing, with another 5% of Recipient’s set forth in Section 1.4(a) or Section 1.4(b) are referred to herein as “Vested Restricted Units”. Restricted Units becoming that have not become vested on the First Vesting Date, so that 25% of the as set forth in Section 1.4(a) or Section 1.4(b) are referred to herein as “Unvested Restricted Units”. All Restricted Units and all Investor Units are vested referred to herein as of the First Vesting Date (provided that Recipient has been continuously employed by BRCC from the Grant Date through and including the First Vesting Date)“Covered Units”.