Common use of Installment Vesting Clause in Contracts

Installment Vesting. Except as provided below in this Section 3, fifty percent (50%) of the aggregate number of PSUs earned in accordance with Section 2.A. or Section 2.C. above shall become vested on the Measurement Date, and fifty percent (50%) of the aggregate number of PSUs earned in accordance with Section 2.A. or Section 2.C. above shall become vested on the first anniversary of the Measurement Date, based on the Participant’s continued employment through each such date. Upon a termination of the Participant’s Service for any reason other than in a Qualifying Termination (as provided below) prior to either such vesting date, the Participant shall forfeit, immediately and without consideration, all then unvested PSUs upon such termination of Service.

Installment Vesting. Except as provided below in this Section 3, fifty percent (50%) of the aggregate number of PSUs earned in accordance with Section 2.A. or Section 2.C. above as of the Measurement Date shall become vested on the Measurement Date, and fifty percent (50%) of the aggregate number of PSUs earned in accordance with Section 2.A. or Section 2.C. above as of the Measurement Date shall become vested on the first anniversary of the Measurement Date, based on the Participant’s continued employment through each such date. Upon a termination of the Participant’s Service for any reason other than in a Qualifying Termination (as provided below) prior to either such vesting date, the Participant shall forfeit, immediately and without consideration, all then unvested PSUs upon such termination of Service.