Deferred Unit Awards Sample Clauses

Deferred Unit Awards. (i) Start Date Awards. You will receive promptly after the Start Date, two equity-based awards (the “Start Date Awards”) under Section 8 of the Blackstone Group L.P. 2007 Equity Incentive Plan (the “Plan”) equal, respectively, to: 1. 155,764 deferred partnership units (“Partnership Units”) of Blackstone Holdings (as defined in the IPO registration statement of The Blackstone Group L.P.) (“Deferred Units”) (the “Sign-On Grant”); and 2. 338,381 Deferred Units (the “Make-Whole Grant”), representing the forfeiture of compensation-related items from ▇▇▇▇▇▇▇ ▇▇▇▇▇ (the “Forfeited Equity”). (ii) 2008 Equity Bonus Award. In addition to the Start Date Awards, if (A) you are still an SMD with Blackstone on the date in calendar year 2009 when bonuses generally are paid to other SMDs in respect of calendar year 2008 (e.g., around January 15, 2009), (B) Blackstone terminates your services as an SMD without Cause prior to such payment date or (C) Blackstone breaches its agreement to commence your service on the terms specified in Section 1 on or about your Start Date, then you will receive an equity-based award under Section 8 of the Plan equal to $4,500,000 of Deferred Units, calculated using the 30-day volume weighted average trading price of Partnership Units prior to the date of grant (the “2008 Equity Bonus Grant” and, together with the Start Date Awards, the “Awards”).