Post-Vesting Transferability and Forfeiture Restrictions. The Partnership Units delivered to you under any vested portion of your Deferred Units generally will be freely transferable after vesting (subject to the partnership agreements of Blackstone Holdings and any trading procedures established by Blackstone and generally applicable to SMDs), except that you will not be permitted to transfer more than 75% of the aggregate number of vested Deferred Units during your service with Blackstone and, following your termination of service, during the non-compete and non-solicit periods described in the Non-Competition Agreement. All transfer restrictions will lapse upon (i) your death or permanent disability, or (ii) a Change in Control.
Appears in 2 contracts
Sources: SMD Agreement, Senior Managing Director Agreement (Blackstone Group L.P.)