Amendment Of This Section. Notwithstanding anything in this Section 3.5 to the contrary, the Board shall have the power to amend the provisions of this Section 3.5, Section 4.1 and Section 4.2 to achieve the economic results intended by this Agreement, including that (i) each Class B Unit has identical entitlement to distributions (other than any differences related to vesting) under Section 4.1(a) and (ii) any Class C Units that are granted to executives of, or other service providers to, the Company in exchange for services provided or to be provided to the Company or any Subsidiary thereof are intended to be profits interests when issued for United States federal income tax purposes.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Cable One, Inc.), Limited Liability Company Agreement (Cable One, Inc.)
Amendment Of This Section. Notwithstanding anything in this Section 3.5 to the contrary, the Board shall have the power to amend the provisions of this Section 3.5, 3.5 and Section 4.1 and Section 4.2 to achieve the economic results intended by this Agreement, including that (i) each Class B Unit has identical entitlement to distributions (other than any differences related to vesting) under Section 4.1(a) and 4.1 as each other Class B Unit (ii) any Class C Capital Incentive Units that are granted to executives of, or other service providers to, the Company Company, or a designee of any such executive or other service provider approved by the Company, in exchange for services provided or to be provided to the Company or any Subsidiary thereof are intended to be profits interests when issued for United States federal income tax purposes.
Appears in 1 contract
Sources: Limited Liability Company Agreement (NorthStar Asset Management Group Inc.)