Common use of Vesting Requirements Clause in Contracts

Vesting Requirements. B.1 An Award becomes vested only upon satisfaction of both the service-based vesting requirements and the risk performance-based vesting requirements set forth below. SERVICE-BASED VESTING REQUIREMENTS The Award is divided into three approximately equal portions that will satisfy the service-based vesting requirements ratably over three years (each portion, a “Tranche”) on three “Scheduled Vesting Dates”, as follows: • the service-based vesting requirement for the first Tranche will be satisfied on the 1st anniversary of the Grant Date, • the service-based vesting requirement for the second Tranche will be satisfied on the 2nd anniversary of the Grant Date, and • the service-based vesting requirement for the third Tranche will be satisfied on the 3rd anniversary of the Grant Date; in each case, provided you remain continuously employed by PNC through and including the applicable Scheduled Vesting Date (or such earlier date as prescribed by Section B.2 below).

Vesting Requirements. B.1 An Award becomes vested only upon satisfaction of both the service-based vesting requirements and the risk performance-based vesting requirements set forth below. SERVICE-BASED VESTING REQUIREMENTS The Award is divided into three approximately equal portions that will satisfy the service-based vesting requirements ratably over three years (each portion, a “Tranche”) on three “Scheduled Vesting Dates”, as follows: • the service-based vesting requirement for the first Tranche will be satisfied on the 1st anniversary of the Grant Date, • the service-based vesting requirement for the second Tranche will be satisfied on the 2nd anniversary of the Grant Date, and • the service-based vesting requirement for the third Tranche will be satisfied on the 3rd anniversary of the Grant Date; in each case, provided you remain continuously employed by PNC through and including the applicable Scheduled Vesting Date (or such earlier date as prescribed by Section B.2 below).