Time for Exercise. (a) The Award will become vested and exercisable in quarterly 5% increments beginning on the last day of the calendar quarter during which the Grant Date occurs and on the last day of each subsequent calendar quarter until the Award becomes fully exercisable on the last day of the calendar quarter immediately preceding the fifth anniversary of the Grant Date.
Appears in 9 contracts
Samples: Stock Incentive Plan (Herbalife Ltd.), Stock Incentive Plan (Herbalife Ltd.), Stock Incentive Plan (Herbalife Ltd.)