(3) The
"vesting date" in respect of a share is one of the following dates (whichever
happens first)--
(a) the date on which the share vests in the employee (that
is, when any conditions applying to the grant of the share have been met and
the employee's legal or beneficial interest in the share cannot be rescinded),
(b) the date at the end of the period of 7 years from the date on which the
share is granted to the employee.
(4) The
"vesting date" in respect of an option is one of the following dates
(whichever happens first)--
(a) the date on which the share to which the
option relates is granted to the employee,
(b) the date on which the employee
exercises a right under the option to have the share the subject of the option
transferred to, allotted to or vested in him or her,
(c) the date at the end
of the period of 7 years from the date on which the option is granted to the
employee.