Common use of Time Vesting Units Clause in Contracts

Time Vesting Units. With respect to 50% of the Profits Interest Units subject to this Agreement (the “Time Vesting Units”), subject to a Participant’s continued service as a non-employee director (“Service”) under the Services Agreement between the Participant and Chiron Holdings GP, Inc. through the applicable vesting date, 25% of the Time Vesting Units ▇▇▇▇ ▇▇▇▇▇ vest on the first anniversary of October 16, 2012 (the “Vesting Commencement Date”) and the remaining 75% of the Time Vesting Units will then vest ratably on a quarterly basis (e.g., every 3 months thereafter) over the following 12 quarters (36 months) thereafter (therefore, in normal course, the Time Vesting Units will fully vest over the four years from the Vesting Commencement Date). All Time Vesting Units, not previously forfeited, (subject to Section 4(a)), will vest upon the consummation of a Change of Control.

Time Vesting Units. With respect to 50% of the Profits Interest Units subject to this Agreement (the “Time Vesting Units”), subject to a Participant’s continued service as a non-employee director (“Service”) under the Services Agreement between the Participant and Chiron Holdings GP, Inc. through the applicable vesting date, 25% of the Time Vesting Units ▇▇▇▇ ▇▇▇▇▇ vest on the first anniversary of October 16, 2012 (the “Vesting Commencement Date”) Date of Grant and the remaining 75% of the Time Vesting Units will then vest ratably on a quarterly basis (e.g., every 3 months thereafter) over the following 12 quarters (36 months) thereafter (therefore, in normal course, the Time Vesting Units will fully vest over the four years from the Vesting Commencement DateDate of Grant). All Time Vesting Units, not previously forfeited, (subject to Section 4(a)), will vest upon the consummation of a Change of Control.