English to German Bus/Financial Finance (general)

Vesting Schedule
No amount will be paid in respect of an Incentive Unit unless it has become a ***Vested*** Incentive Unit prior to or in connection with a Liquidity Event.
Subject to Participant’s continued Service, Time-Vesting Incentive Units will vest 25% on the Initial Vesting Date (as defined below) and the remainder in 12 substantially equal quarterly installments over the following three years such that full vesting occurs on the third anniversary of the Initial Vesting Date.