Vesting Units Sample Clauses

Vesting Units. The Incentive Units shall vest in accordance with this Section 5 in each case only so long as Employee remains continuously employed by the Company or any of its Subsidiaries. Notwithstanding any other provision of this Agreement, no Incentive Units shall vest after the date on which Employee ceases to be employed by the Company or its Subsidiaries for any reason (the “Termination,” and the date of any such Termination, the “Termination Date”), and in no event will the aggregate number of Incentive Units which are deemed to be vested exceed the aggregate number of Incentive Units which are vested on Employee’s Termination Date (as determined in accordance with this Section 5). For purposes of clarity, all Incentive Units which may vest pursuant to this Section 5 shall continue to be subject to the restrictions set forth in Section 3 hereof.
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Vesting Units. As of the Effective Date, the Executive shall be allowed, for a period of thirty (30) days from the Effective Date, to purchase up to two hundred and forty (240) of the Company’s common units (“Restricted Units”) at a price to be mutually
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Vesting Units. Within thirty days after the Effective Date, the Executive shall purchase one percent (1%) of the Company's common units ("Restricted Time-Based Units"), at a price equal to $0.01 per common units. The Restricted Time-Based Units shall lapse (shall vest) in equal annual installments over a three (3) year period from the Effective Date; provided the Executive is employed with the Company on each applicable vesting date. The Executive shall purchase another one percent (1%) of the Company's common units ("Restricted Performance-Based Units"), at a price equal to $0.01 per common unit. The Restricted Performance-Based Units shall lapse (shall vest) in equal annual installments over a three (3) year period from the Effective Date; provided that performance-based targets established by the Company's compensation committee for each of 2005, 2006 and 2007 calendar years are achieved, and the Executive is employed with the Company on each applicable vesting date. Restricted Time-Based Units and Restricted Performance Based Units, together, are referred to as "Restricted Units." The purchase of the Restricted Units shall be made subject to the terms and conditions of a vesting unit repurchase agreement (which shall incorporate the performance-based targets established by the Company's compensation committee and the right but not the obligation of the Company or its designee to repurchase the Restricted Units upon the termination of the Executive's employment with the Company for any reason), the Company's Operating Agreement and a customary subscription agreement between the Company and the Executive.
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Related to Vesting Units

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Restricted Share Units Restricted Share Units means Restricted Share Units granted to Participant under the Plan subject to such terms and conditions as the Committee may determine at the time of issuance.

  • Units Interests in the Partnership shall be represented by Units. The Units initially are comprised of one Class: Class A Units. The General Partner may establish, from time to time in accordance with such procedures as the General Partner shall determine from time to time, other Classes, one or more series of any such Classes, or other Partnership securities with such designations, preferences, rights, powers and duties (which may be senior to existing Classes and series of Units or other Partnership securities), as shall be determined by the General Partner, including (i) the right to share in Profits and Losses or items thereof; (ii) the right to share in Partnership distributions; (iii) the rights upon dissolution and liquidation of the Partnership; (iv) whether, and the terms and conditions upon which, the Partnership may or shall be required to redeem the Units or other Partnership securities (including sinking fund provisions); (v) whether such Unit or other Partnership security is issued with the privilege of conversion or exchange and, if so, the terms and conditions of such conversion or exchange; (vi) the terms and conditions upon which each Unit or other Partnership security will be issued, evidenced by certificates and assigned or transferred; (vii) the method for determining the Total Percentage Interest as to such Units or other Partnership securities; and (viii) the right, if any, of the holder of each such Unit or other Partnership security to vote on Partnership matters, including matters relating to the relative designations, preferences, rights, powers and duties of such Units or other Partnership securities. Except as expressly provided in this Agreement to the contrary, any reference to “Units” shall include the Class A Units and any other Classes that may be established in accordance with this Agreement. All Units of a particular Class shall have identical rights in all respects as all other Units of such Class, except in each case as otherwise specified in this Agreement.

  • Vesting of Units For purposes of this Agreement, “Vesting Date” means any date, including the Scheduled Vesting Dates specified in the Vesting Schedule on the cover page of this Agreement, on which Units subject to this Agreement vest as provided in this Section 4.

  • Forfeiture of Restricted Stock Units In the event of termination of Employee’s employment with the Company or any employing Subsidiary of the Company for any reason other than (i) normal retirement on or after age 70, (ii) death or (iii) disability (disability being defined as being physically or mentally incapable of performing either the Employee’s usual duties as an Employee or any other duties as an Employee that the Company reasonably makes available and such condition is likely to remain continuously and permanently, as determined by the Company or employing Subsidiary), or except as otherwise provided in the second and third sentences of subparagraph (c) of this Paragraph 2, Employee shall, for no consideration, forfeit all Restricted Stock Units to the extent they are not fully vested.