Common use of Time Vesting Units Clause in Contracts

Time Vesting Units. To the extent that any Time-Vesting Units remain unvested as of the date that is six (6) months following such termination, such unvested Time-Vesting Units shall be forfeited as of such date; provided, that if the termination without Cause occurs within the one-year period after a Change of Control, all unvested Time-Vesting Units shall vest as of the date of termination.

Appears in 2 contracts

Sources: Restricted Unit Purchase Agreement (Hughes Communications, Inc.), Restricted Unit Purchase Agreement (Hughes Network Systems, LLC)