Common use of Time-Based Units Clause in Contracts

Time-Based Units. Ten (10) of the aggregate Time-Based Units that are the subject of this Agreement shall vest on August 1, 2008, and an additional ten (10) of the aggregate Time-Based Units that are the subject of this Agreement shall vest on each of the first three anniversaries of such first vesting date (each, an “Anniversary Date”), provided that the Participant has not incurred a Termination of Service prior to each such Anniversary Date. Notwithstanding the foregoing, Time Based Units shall become fully vested immediately prior to a “Liquidation Event” (as such term is defined in the Plan), provided that the Participant has not incurred a Termination of Service prior to such Liquidation Event.

Time-Based Units. Ten Twenty-two (1022) of the aggregate Time-Based Units that are the subject of this Agreement shall vest on August 1, 2008, and an additional ten twenty-two (1022) of the aggregate Time-Based Units that are the subject of this Agreement shall vest on each of the first three anniversaries of such first vesting date (each, each an “Anniversary Date”), provided that the Participant has not incurred a Termination of Service prior to each such Anniversary Date. Notwithstanding the foregoing, Time Based Units shall become fully vested immediately prior to a “Liquidation Event” (as such term is defined in the Plan), provided that the Participant has not incurred a Termination of Service prior to such Liquidation Event.