Common use of Vesting of the Shares Clause in Contracts

Vesting of the Shares. (a) One-third of the Shares covered by this agreement, shall become nonforfeitable on the third, fourth and fifth anniversaries of the Date of Grant (so that 100% of the Shares will be nonforfeitable on the fifth anniversary of the Date of Grant), subject to the Employee remaining in the continuous employ of the Company or a subsidiary during the applicable vesting period. For the purposes of this agreement: "

Vesting of the Shares. (a) One-third of the Shares covered by this agreement, shall become nonforfeitable on the thirdfirst, fourth second and fifth third anniversaries of the Date of Grant (so that 100% of the Shares will be nonforfeitable on the fifth third anniversary of the Date of Grant), subject to the Employee Grantee remaining in the continuous employ as a director of the Company or a subsidiary during the applicable vesting period. For the purposes of this agreement: ".