Common use of Share Grant Clause in Contracts

Share Grant. Executive will be granted, effective as of the Effective Date, restricted common shares of CharterMac valued (as of the Effective Date) at $1,250,000 (collectively, the “Share Grant”) under and subject to the terms of the CharterMac Amended and Restated Incentive Share Plan (the “Incentive Plan”). The Share Grant shall vest and become exercisable over the course of five years in five equal installments on each of the first five anniversaries of the Effective Date, provided, except to the extent otherwise provided in this Agreement, that Executive is continuously employed by the Company on each such vesting date. Once vested, the Share Grant shall be non-forfeitable. Except to the extent otherwise provided in this Agreement, the Share Grant shall be subject to the terms of the applicable award agreement(s) from CharterMac evidencing the Share Grant. Notwithstanding anything to the contrary contained herein or in the documents governing the Share Grant, upon (x) a Change of Control (as defined Exhibit A) or (y) Executive’s termination of employment with the Company and its affiliates, any unvested portion of the Share Grant (and, in the case of a Change of Control, any unvested restricted stock issued to the Executive under Section 3.b.) shall immediately vest in full, unless such termination is by the Company or any of its affiliates for Cause or by Executive without Good Reason, in which event any unvested portion of the Share Grant shall be forfeited. The award agreement(s) will be in the form generally used for similarly situated employees.

Share Grant. Executive will be granted, effective as of the Effective Date, restricted common shares of CharterMac valued (as of the Effective Date) at $1,250,000 750,000 (collectively, the “Share Grant”"SHARE GRANT") under and subject to the terms of the CharterMac Amended and Restated Incentive Share Plan (the “Incentive Plan”"INCENTIVE PLAN"). The Share Grant shall vest and become exercisable over the course of five three years in five three equal installments on each of the first five three anniversaries of the Effective Date, provided, except to the extent otherwise provided in this Agreement, that Executive is continuously employed by the Company on each such vesting date. Once vested, the Share Grant shall be non-forfeitable. Except to the extent otherwise provided in this Agreement, the Share Grant shall be subject to the terms of the applicable award agreement(s) from CharterMac evidencing the Share Grant. Notwithstanding anything to the contrary contained herein or in the documents governing the Share Grant, upon (x) a Change of Control (as defined Exhibit EXHIBIT A) or (y) Executive’s 's termination of employment with the Company and its affiliates, any unvested portion of the Share Grant (and, in the case of a Change of Control, any unvested restricted stock issued to the Executive under Section 3.b.) shall immediately vest in full, unless such termination is by the Company or any of its affiliates for Cause or by Executive without Good Reason, in which event any unvested portion of the Share Grant shall be forfeited. The award agreement(s) will be in the form generally used for similarly situated employees.