55  Where an Executive Director has a tax liability on termination of employment in respect of any unvested retained profit share, the  Board or its delegate has discretion to release unvested retained profit share up to an amount equal to the Executive Director's tax  liability, at an earlier time than noted above.  harm to Macquarie or its businesses.  The release will occur over the period from six months to two years after the Executive Director leaves, subject to different  disqualifying event provisions:  Where the Board or its delegate exercise discretion to accelerate the vesting of retained profit share, subject to prevailing  employment laws, the Executive Director will not be entitled to receive any of their unvested retained profit share where the Board or  its delegate determines that the Executive Director has during the period of employment with Macquarie or since leaving:  (a) committed an act of dishonesty (including but not limited to misappropriation of funds and deliberate concealment of a  transaction)  (b) committed a significant and wilful breach of duty that causes material damage to Macquarie  (c) joined a competitor of Macquarie Group (d) taken staff to a competitor or been instrumental in causing staff to go to a competitor, or  (e) otherwise acted or failed to act in a way that thereby causes damage to Macquarie, including but not limited to situations  where the action or inaction leads to a material financial restatement, a significant financial loss or any significant reputational  1.3.5.1 Disqualifying events provision  First period  Second period  Third period  Time post departure  6 months  6 months – 1 year  1 year – 2 years  Unvested retained  profit share  released  From all but the last two years  of employment  From the second year prior to  the end of employment  From the year prior to the end  of employment  Subject to  disqualifying events (a), (b), (c), (d) and (e)  No disqualification during First  Period and (a), (b), (d) and (e) in  Second Period  No disqualification during First Period  and Second Period  and (a), (b) and (e) in Third Period 