Common use of Tranche Clause in Contracts

Tranche. 1 – one-fifth (1/5th) of the Deferred Stock Units, on the earlier of (x) the one (1) year anniversary of the Date of Grant or (y) the fifth (5th) anniversary of the date of Participant’s termination as a Service Provider prior to attainment of age 67.

Tranche. 1 3 – one-fifth (1/5th) of the Deferred Stock Units, on the earlier of (x) the one three (13) year anniversary of the Date of Grant or (y) the fifth (5th) anniversary of the date of Participant’s termination as a Service Provider prior to attainment of age 67.

Tranche. 1 2 – one-fifth (1/5th) of the Deferred Stock Units, on the earlier of (x) the one two (12) year anniversary of the Date of Grant or (y) the fifth (5th) anniversary of the date of Participant’s termination as a Service Provider prior to attainment of age 67.;