Common use of Vesting of Other Non-Managing Members and Additional Members Interests Clause in Contracts

Vesting of Other Non-Managing Members and Additional Members Interests. The interest in the Company of any Non-Managing Member and of any Additional Member shall vest in accordance with a vesting schedule (if any) established by the Managing Members for such other Non-Managing Member or Additional Member. Any amounts allocated Non-Managing Members or Additional Members that, for any reason, do not vest shall revert to the Members whose interest in such amounts were diluted by the original allocation of such amounts to such Non-Managing Member or Additional Member.

Appears in 1 contract

Sources: Limited Liability Company Operating Agreement

Vesting of Other Non-Managing Members and Additional Members Interests. The interest in the Company of any Non-Managing Member (other than E*Trade) and of any Additional Member shall vest in accordance with a vesting schedule (if any) established by the Managing Members for such other Non-Managing Member or Additional Member. Any amounts allocated Non-Managing Members or Additional Members that, for any reason, do not vest shall revert to the Members whose interest in such amounts were diluted by the original allocation of such amounts to such Non-Managing Member or Additional Member.

Appears in 1 contract

Sources: Limited Liability Company Operating Agreement (E Trade Group Inc)