Altscape Carried Interest Sample Clauses

Altscape Carried Interest. As additional consideration for Employee entering into this Agreement and the covenants and other undertakings of Employee set forth in this Agreement, Employee shall be entitled to acquire and hold an ownership interest (or interests) in the entity or entities (each, an “Altscape Carry Vehicle”) entitled to receive any performance fee, performance allocation, carried interest, promote, or other performance-based compensation payable to or receivable in respect of MCG Altscape Fund, L.P. (collectively, “Altscape Carried Interest”). Such ownership interests shall entitle Employee to an allocation of 20% of the total Altscape Carried Interest allocated to all partners (including the general partner) or other owners of each Altscape Carry Vehicle; provided that Employee’s rights with respect to the Altscape Carried Interest shall be governed by all the terms and conditions set forth in the governing documents of the applicable Altscape Carry Vehicle (including any terms regarding vesting or forfeiture); and provided further, that Employee’s ownership of each Altscape Carried Interest shall be subject to vesting as follows: 1/3 vests upon execution of this Agreement, 1/3 vests on March 1, 2018 if Employee is actively employed by Employer on that vesting date; and 1/3 vests on March 1, 2019 if Employee is actively employed by Employer on that vesting date. If Employee’s employment is terminated by Employer pursuant to §6(a) or §6(c), all unvested Altscape Carried Interest shall vest upon the effective date of such termination. Employer and Employee shall execute, or cause to be executed, such documentation as is required to carry out the purposes of this § 5(a)(v).