Reverse vesting can be considered as a practical solution for Time based vesting. With Reverse vesting, assets (in this case depositary receipts or shares) will be issued or transferred to the employee all at once. In a separate agreement - shareholders or certificaathouders overeenkomst - employees and the employer agrees that rights attached to these assets will vest over time, despite the fact that the already own the underlying assets. During a vesting period of four years, rights such as dividend will vest gradually (i.e. 25% per year) according to the agreed vesting scheme. Reverse vesting is often used in the Dutch situations where employees are incentivized with depositary receipts or shares, in order to avoid costs for transferring these assets to the employee. If the employee will leave the company before the complete vesting period is completed, the employee has the obligation to transfer all non vested assets back to the company, or in other words: the company has the right to repurchase the assets if the employee has not been fully vested. The price for the assets will be determined by the underlying agreement and the fact if a good or bad leaver will apply and the event