{"component": "clause", "props": {"groups": [{"snippet": "The number of \u201cIncentive Units\u201d awarded to you, is designated above under the Number of Units.", "samples": [{"hash": "HegFnrY6cO", "uri": "/contracts/HegFnrY6cO#incentive-units", "label": "Award Agreement (Interface Security Systems, L.L.C.)", "score": 23.5174541473, "published": true}, {"hash": "4QF2vJqqHNR", "uri": "/contracts/4QF2vJqqHNR#incentive-units", "label": "Award Agreement (Interface Security Systems, L.L.C.)", "score": 23.5174541473, "published": true}, {"hash": "4Hzf5ugISk9", "uri": "/contracts/4Hzf5ugISk9#incentive-units", "label": "Award Agreement (Interface Security Systems, L.L.C.)", "score": 23.5174541473, "published": true}], "snippet_links": [{"key": "number-of-units", "type": "clause", "offset": [78, 93]}], "size": 6, "hash": "c815c0bb419f1fd3791b05b56398704a", "id": 6}, {"snippet": "(a) The following Incentive Units are hereby created, subject to the adjustments provided for in this Section 3.3:\n(i) 990,414 \u201cLegacy Tier I Units,\u201d which are held, as of the date hereof, by those individuals set forth on Exhibit A in the amount opposite each such individual\u2019s name in the column entitled \u201cLegacy Tier I Units;\u201d\n(ii) 1,000,000 \u201cLegacy Tier II Units,\u201d which are held, as of the date hereof, by those individuals set forth on Exhibit A in the amount opposite each such individual\u2019s name in the column entitled \u201cLegacy Tier II Units;\u201d\n(iii) 1,000,000 \u201cLegacy Tier III Units,\u201d which are held, as of the date hereof, by those individuals set forth on Exhibit A in the amount opposite each such individual\u2019s name in the column entitled \u201cLegacy Tier III Units;\u201d\n(iv) 817,546 \u201cNew Tier I Units,\u201d which are held, as of the date hereof, by those individuals set forth on Exhibit A in the amount opposite each such individual\u2019s name in the column entitled \u201cNew Tier I Units;\u201d\n(v) 677,546 \u201cNew Tier II Units,\u201d which are held, as of the date hereof, by those individuals set forth on Exhibit A in the amount opposite each such individual\u2019s name in the column entitled \u201cNew Tier II Units;\u201d\n(vi) 677,546 \u201cNew Tier III Units,\u201d which are held, as of the date hereof, by those individuals set forth on Exhibit A in the amount opposite each such individual\u2019s name in the column entitled \u201cNew Tier III Units;\u201d and\n(vii) 677,546 \u201cNew Tier IV Units,\u201d which are held, as of the date hereof, by those individuals set forth on Exhibit A in the amount opposite each such individual\u2019s name in the column entitled \u201cNew Tier IV Units.\u201d\n(b) The Incentive Units are non-voting, and subject to vesting, forfeiture and termination as follows:\n(A) The Legacy Tier I Units held by each Employee shall vest ratably over a three-year period following the grant of the \u201cLegacy Tier I Units\u201d of Rice Appalachia Holdings, LLC that corresponds, pursuant to the Master Reorganization Agreement, to the Legacy Tier I Units granted thereunder to such Employee, with one-third vesting on the first anniversary of such grant, an additional one-third vesting on the second anniversary of such grant and the remaining one-third vesting on the third anniversary of such grant (with vesting between such anniversaries occurring pro rata determined by multiplying the number of such Incentive Units that would vest on the next annual vesting date by a fraction with a numerator equal to the number of full months which have then elapsed since the last vesting date and a denominator of 12, and rounding to the closest whole number).\n(B) The Legacy Tier II Units held by each Employee shall vest only upon and concurrently with NGP I receiving, pursuant to Section 4.3(a), $303,017,555.52 in the aggregate.\n(C) The Legacy Tier III Units held by each Employee shall vest only upon and concurrently with NGP I receiving, pursuant to Section 4.3(a), $404,023,407.36 in the aggregate.\n(D) The New Tier I Units held by each Employee shall vest ratably over a five-year period following the grant of the \u201cNew Tier I Units\u201d of Rice Appalachia Holdings, LLC that corresponds, pursuant to the Master Reorganization Agreement, to the New Tier I Units granted thereunder to such Employee, with one-fifth vesting on the first anniversary of such grant, and an additional one-fifth vesting on the each of the second, third, fourth and fifth anniversaries of such grant (with vesting between such anniversaries occurring pro rata determined by multiplying the number of such Incentive Units that would vest on the next annual vesting date by a fraction with a numerator equal to the number of full months which have then elapsed since the last vesting date and a denominator of 12, and rounding to the closest whole number).\n(E) The New Tier II Units held by each Employee shall vest ratably over a five-year period following the grant of the \u201cNew Tier II Units\u201d of Rice Appalachia Holdings, LLC that corresponds, pursuant to the Master Reorganization Agreement, to the New Tier II Units granted thereunder to such Employee, with one-fifth vesting on the first anniversary of such grant, and an additional one-fifth vesting on the each of the second, third, fourth and fifth anniversaries of such grant (with vesting between such anniversaries occurring pro rata determined by multiplying the number of such Incentive Units that would vest on the next annual vesting date by a fraction with a numerator equal to the number of full months which have then elapsed since the last vesting date and a denominator of 12, and rounding to the closest whole number).\n(F) The New Tier III Units held by each Employee shall vest only upon and concurrently with the occurrence of New Tier III Payout.\n(G) The New Tier IV Units held by each Employee shall vest only upon and concurrently with the occurrence of New Tier IV Payout.\n(ii) Unless otherwise agreed by the Board, all Incentive Units that have not yet vested in accordance with the vesting requirements set forth in Section 3.3(b)(i) that are held by an Employee shall automatically, without any action required of any Person, be forfeited and thereby become null and void, if and when such Person\u2019s status as an Employee is terminated for any reason or without reason, including by termination, resignation, death or disability, and any vested, unforfeited Incentive Units held by such Person shall, upon such termination, remain non-voting.\n(iii) Anything herein to the contrary notwithstanding, unless otherwise agreed by the Board in the case of Section 3.3(b)(iii)(B), all Incentive Units held by an Employee (regardless of whether vested or unvested) shall automatically be forfeited and thereby become null and void if and when such Person\u2019s status as an Employee is terminated:\n(A) for \u201ccause,\u201d which shall mean by reason of such holder\u2019s: (1) conviction of, or plea of nolo contendere to, any felony or to any crime or offense causing substantial harm to PublicCo, the Company or any of their respective Affiliates or involving acts of theft, fraud, embezzlement, moral turpitude or similar conduct, (2) repeated intoxication by alcohol or drugs during the performance of such holder\u2019s duties in a manner that materially and adversely affects the holder\u2019s performance of such duties, (3) malfeasance, in the conduct of such holder\u2019s duties, including (I) misuse or diversion of funds of PublicCo, the Company or any of their respective Affiliates, (II) embezzlement or (III) misrepresentations or concealments on any written reports submitted to the Company or its Affiliates, (4) violation of any provision of this Agreement or of such Person\u2019s agreements with any of PublicCo, the Company or their respective Affiliates or (5) failure to perform the duties of such holder\u2019s employment or service relationship with PublicCo, the Company or any of their respective Affiliates, or failure to follow or comply with the reasonable and lawful written directives of the Board or the managers or directors of the Person that employs such holder or for whom such holder provides services; or\n(B) by such Employee\u2019s resignation or early termination of service relationship.\n(c) Upon any forfeiture or other termination of Incentive Units, the Company shall amend Exhibit A to reflect such occurrence.\n(d) The Company shall not issue any Incentive Units following the Effective Date.", "samples": [{"hash": "14Wb4w0lydx", "uri": "/contracts/14Wb4w0lydx#incentive-units", "label": "Limited Liability Company Agreement (Rice Energy Inc.)", "score": 25.0930862427, "published": true}, {"hash": "lAgSdbP3c1N", "uri": "/contracts/lAgSdbP3c1N#incentive-units", "label": "Limited Liability Company Agreement (Rice Energy Inc.)", "score": 25.0191650391, "published": true}, {"hash": "6raptazx82F", "uri": 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"type": "clause", "offset": [6373, 6391]}, {"key": "written-reports", "type": "definition", "offset": [6525, 6540]}, {"key": "to-the-company", "type": "definition", "offset": [6551, 6565]}, {"key": "provision-of", "type": "clause", "offset": [6606, 6618]}, {"key": "agreement-or", "type": "definition", "offset": [6624, 6636]}, {"key": "failure-to-perform", "type": "clause", "offset": [6737, 6755]}, {"key": "duties-of", "type": "clause", "offset": [6760, 6769]}, {"key": "employment-or-service-relationship", "type": "clause", "offset": [6784, 6818]}, {"key": "comply-with-the", "type": "clause", "offset": [6909, 6924]}, {"key": "written-directives", "type": "definition", "offset": [6947, 6965]}, {"key": "the-managers", "type": "clause", "offset": [6982, 6994]}, {"key": "termination-of-service-relationship", "type": "clause", "offset": [7137, 7172]}, {"key": "other-termination", "type": "definition", "offset": [7201, 7218]}, {"key": "the-company-shall", "type": "clause", "offset": [7239, 7256]}, {"key": "exhibit-a-to", "type": "definition", "offset": [7263, 7275]}, {"key": "following-the-effective-date", "type": "clause", "offset": [7353, 7381]}], "size": 4, "hash": "5217650c4bf7d9156f53133fcb26cd87", "id": 9}, {"snippet": "Nothing in this Agreement shall alter, limit, or void the respective rights and obligations of the parties with regard to any grant of incentive units to Executive under any Pluralsight Holdings, LLC Incentive Unit Offer Letter (the \u201cIncentive Unit Offer Letter\u201d).", "samples": [{"hash": "6pJxUCSzDgM", "uri": "/contracts/6pJxUCSzDgM#incentive-units", "label": "Executive Employment Agreement (Pluralsight, Inc.)", "score": 30.1389465332, "published": true}, {"hash": "4DaCOJcZHm3", "uri": "/contracts/4DaCOJcZHm3#incentive-units", "label": "Executive Employment Agreement (Pluralsight, Inc.)", "score": 30.1389465332, "published": true}, {"hash": "lvDgOTTbqiY", "uri": "/contracts/lvDgOTTbqiY#incentive-units", "label": "Executive Employment Agreement (Pluralsight, Inc.)", "score": 29.7200546265, "published": true}], "snippet_links": [{"key": "nothing-in-this-agreement", "type": "clause", "offset": [0, 25]}, {"key": "rights-and-obligations-of-the-parties", "type": "clause", "offset": [69, 106]}, {"key": "with-regard-to", "type": "clause", "offset": [107, 121]}, {"key": "grant-of-incentive-units", "type": "clause", "offset": [126, 150]}, {"key": "to-executive", "type": "clause", "offset": [151, 163]}, {"key": "offer-letter", "type": "clause", "offset": [215, 227]}], "size": 10, "hash": "9356d56fab43f7878a33c19345bdb672", "id": 1}, {"snippet": "The term \u201cIncentive Units\u201d shall have the meaning set forth in the preface.", "samples": [{"hash": "dFxLSS9yc9u", "uri": "/contracts/dFxLSS9yc9u#incentive-units", "label": "Incentive Unit Grant Agreement", "score": 31.3408622742, "published": true}, {"hash": "j2PoKUA7E5F", "uri": "/contracts/j2PoKUA7E5F#incentive-units", "label": "Incentive Unit Grant Agreement (21st Century Oncology Holdings, Inc.)", "score": 26.7659130096, "published": true}, {"hash": "aqXAo5lgFCa", "uri": "/contracts/aqXAo5lgFCa#incentive-units", "label": "Incentive Unit Grant Agreement (21st Century Oncology Holdings, Inc.)", "score": 26.7659130096, "published": true}], "snippet_links": [{"key": "the-term", "type": "definition", "offset": [0, 8]}], "size": 5, "hash": "4f7a9fd9194697720a93284c43c77578", "id": 7}, {"snippet": "The memorandum record of a Participant\u2019s Award, that is used to determine each Participant\u2019s proportionate share of the Incentive Bonus Pool. A maximum of 100 Incentive Units are available for Awards under the Plan.", "samples": [{"hash": "HegFnrY6cO", "uri": "/contracts/HegFnrY6cO#incentive-units", "label": "Award Agreement (Interface Security Systems, L.L.C.)", "score": 23.5174541473, "published": true}, {"hash": "4QF2vJqqHNR", "uri": "/contracts/4QF2vJqqHNR#incentive-units", "label": "Award Agreement (Interface Security Systems, L.L.C.)", "score": 23.5174541473, "published": true}, {"hash": "4Hzf5ugISk9", "uri": "/contracts/4Hzf5ugISk9#incentive-units", "label": "Award Agreement (Interface Security Systems, L.L.C.)", "score": 23.5174541473, "published": true}], "snippet_links": [{"key": "the-memorandum", "type": "clause", "offset": [0, 14]}, {"key": "record-of", "type": "clause", "offset": [15, 24]}, {"key": "a-participant", "type": "definition", "offset": [25, 38]}, {"key": "to-determine", "type": "clause", "offset": [61, 73]}, {"key": "each-participant", "type": "clause", "offset": [74, 90]}, {"key": "proportionate-share", "type": "definition", "offset": [93, 112]}, {"key": "incentive-bonus-pool", "type": "clause", "offset": [120, 140]}, {"key": "awards-under-the-plan", "type": "clause", "offset": [193, 214]}], "size": 6, "hash": "dd9f63981a51c9b8e557c80067b5517d", "id": 5}, {"snippet": "(a) The Company may issue Class B Common Units to existing or new employees, officers, directors, other service providers or consultants of the Company or its Subsidiaries (each, a \u201cManagement Unitholder\u201d) pursuant to written agreements approved by the Board (each such agreement, regardless of its actual title, as amended, modified and waived from time to time in accordance with its terms, is referred to herein as an \u201cIncentive Unit Grant Agreement\u201d). The Company may make the Class B Common Units and any issuance thereof and any Incentive Unit Grant Agreement subject to the terms and conditions of any equity or unit incentive plan, as the same may be amended or modified from time to time in accordance with its terms, as may have been adopted by the Company or its Subsidiaries on or before the date of such issuance or Incentive Unit Grant Agreement. On the date of each grant of Class B Common Units to a Management Unitholder who is, or as a result of such grant becomes, a holder of Class B Common Units pursuant to a grant made under an Incentive Unit Grant Agreement or similar agreement, the Board shall establish an initial \u201cParticipation Threshold\u201d amount with respect to each Class B Common Unit granted on such date. Unless otherwise determined by the Board, the Participation Threshold with respect to a Class B Common Unit shall be equal to or greater than the Liquidation Value of a Class A Common Unit on the date of grant of such Class B Common Unit. The Board may designate a series number for each subset of Class B Common Units consisting of Class B Common Units having the same Participation Threshold, which Participation Threshold differs from the Participation Thresholds of all Class B Common Units not included in such subset. If the Board elects to so designate Class B Common Units, then the first Class B Common Unit issued on or after the date hereof shall be designated a \u201cSeries 1 Class B Common Unit.\u201d Each Class B Common Unit\u2019s Participation Threshold shall be adjusted after the grant of such Class B Common Unit in the following manner:\n(i) In the event of any Distribution pursuant to Section 4.1(a)(iii), the Participation Threshold of each Class B Common Unit outstanding at the time of such Distribution shall be reduced (but not below zero) by the amount that each Class A Common Unit receives in such Distribution (with such reduction occurring immediately after the determination of the portion of such Distribution, if any, that such Class B Common Unit is entitled to receive). For this purpose, Distributions shall include Tax Distributions made pursuant to Section 4.1(b) only (i) to the extent such Tax Distributions are made as a result of the recognition of the built-in gain in any asset that existed at the time the relevant Class B Common Unit was issued or (ii) to the extent that the relevant Class B Common Unit is not also entitled to a Tax Distribution with respect to the item or tier of taxable income giving rise to the Tax Distribution. For this purpose, the Tax Distribution that arises from the recognition of the built-in gain in an asset may be bifurcated between the Tax Distribution that relates to the built-in gain that existed at the time the relevant Class B Common Unit was issued and the Tax Distribution that relates to any additional gain in the asset that accrued since the time the relevant Class B Common Unit was issued. In order to preserve the economic results intended by this Agreement, the Board may, in its reasonable discretion, determine whether any Tax Distribution or portion of any Tax Distribution should reduce the Participation Threshold of a Class B Common Unit.\n(ii) In the event of any Capital Contribution with respect to outstanding Class A Common Units that occurs after the issuance of a series of Class B Common Units, the Participation Threshold of each Class B Common Unit outstanding at the time of such Capital Contribution shall be increased by the amount contributed with respect to each Class A Common Unit.\n(iii) If the Company at any time subdivides (by any Unit split or otherwise) the Class A Common Units into a greater number of Units, the Participation Threshold of each Class B Common Unit outstanding immediately prior to such subdivision shall be proportionately reduced, and if the Company at any time combines (by reverse Unit split or otherwise) the Class A Common Units into a smaller number of Units, the Participation Threshold of each Class B Common Unit outstanding immediately prior to such combination shall be proportionately increased.\n(iv) No adjustment shall be made in connection with (A) any redemption or repurchase by the Company or any Unitholder of any Units or any forfeiture by any Unitholder of any Units or (B) any Capital Contribution by any Unitholder in exchange for newly issued Units.\n(b) The Participation Thresholds of each Unitholder\u2019s Class B Common Units shall be set forth on the Unit Ownership Ledger, and Unit Ownership Ledger shall be amended from time to time by the Company as necessary to reflect any adjustments to the Participation Thresholds of outstanding Class B Common Units required pursuant to this Section 3.5.\n(c) Notwithstanding anything in this Section 3.5 to the contrary, the Board shall have the power to amend the provisions of this Section 3.5 and Section 4.1(a) to achieve the economic results intended by this 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"pursuant-to-section", "type": "definition", "offset": [2118, 2137]}, {"key": "at-the-time", "type": "definition", "offset": [2219, 2230]}, {"key": "determination-of-the", "type": "clause", "offset": [2417, 2437]}, {"key": "to-receive", "type": "definition", "offset": [2518, 2528]}, {"key": "tax-distributions", "type": "definition", "offset": [2577, 2594]}, {"key": "made-pursuant-to", "type": "clause", "offset": [2595, 2611]}, {"key": "to-the-extent", "type": "clause", "offset": [2636, 2649]}, {"key": "recognition-of", "type": "clause", "offset": [2701, 2715]}, {"key": "relevant-class", "type": "definition", "offset": [2776, 2790]}, {"key": "taxable-income", "type": "definition", "offset": [2955, 2969]}, {"key": "relates-to", "type": "definition", "offset": [3164, 3174]}, {"key": "the-asset", "type": "clause", "offset": [3326, 3335]}, {"key": "in-order-to", "type": "clause", "offset": [3409, 3420]}, {"key": "by-this-agreement", "type": "clause", "offset": [3460, 3477]}, {"key": "reasonable-discretion", "type": "definition", "offset": [3501, 3522]}, {"key": "determine-whether", "type": "clause", "offset": [3524, 3541]}, {"key": "capital-contribution", "type": "definition", "offset": [3691, 3711]}, {"key": "class-a-common-units", "type": "definition", "offset": [3740, 3760]}, {"key": "the-issuance", "type": "clause", "offset": [3779, 3791]}, {"key": "increased-by", "type": "clause", "offset": [3947, 3959]}, {"key": "at-any-time", "type": "clause", "offset": [4046, 4057]}, {"key": "unit-split", "type": "definition", "offset": [4077, 4087]}, {"key": "number-of-units", "type": "clause", "offset": [4142, 4157]}, {"key": "prior-to", "type": "definition", "offset": [4239, 4247]}, {"key": "proportionately-reduced", "type": "definition", "offset": [4274, 4297]}, {"key": "no-adjustment", "type": "definition", "offset": [4580, 4593]}, {"key": "in-connection-with", "type": "clause", "offset": [4608, 4626]}, {"key": "repurchase-by-the-company", "type": "clause", "offset": [4649, 4674]}, {"key": "in-exchange", "type": "clause", "offset": [4805, 4816]}, {"key": "for-newly", "type": "clause", "offset": [4817, 4826]}, {"key": "issued-units", "type": "definition", "offset": [4827, 4839]}, {"key": "unit-ownership-ledger", "type": "clause", "offset": [4942, 4963]}, {"key": "adjustments-to", "type": "clause", "offset": [5069, 5083]}, {"key": "section-35", "type": "clause", "offset": [5175, 5186]}, {"key": "power-to-amend", "type": "definition", "offset": [5279, 5293]}, {"key": "provisions-of-this-section", "type": "clause", "offset": [5298, 5324]}, {"key": "entitlement-to", "type": "clause", "offset": [5466, 5480]}, {"key": "profits-interests", "type": "definition", "offset": [5553, 5570]}, {"key": "federal-income-tax-purposes", "type": "clause", "offset": [5601, 5628]}], "size": 8, "hash": "41fa39e30657d3658e1d0552d70b4989", "id": 2}, {"snippet": "(a) As of the Effective Date, the Company has authorized, and reserved for issuance under the Equity Incentive Plan, Incentive Units (the \u201cAuthorized Incentive Units\u201d). To the extent that, on or after the Effective Date, any Incentive Units are issued under the Plan and then such Incentive Units are forfeited, canceled or otherwise terminated, or the Incentive Units are not delivered because an award under the Equity Incentive Plan is settled in cash or used to satisfy the applicable tax withholding obligation, such Incentive Units shall remain part of the Authorized Incentive Units. The number of Authorized Incentive Units can be increased by the Board at any time in its sole discretion.\n(b) It is each Member\u2019s intention that the Incentive Units issued under the Equity Incentive Plan shall represent interests in the Profits and Losses, but not the capital, of the Company. As a condition to the award of any Incentive Units under the Equity Incentive Plan, the intended recipient of such Incentive Units shall execute a restricted units or similar agreement, in a form approved by the Board, and shall take such other steps, and execute such other documents as are contemplated thereunder. The Incentive Units issued pursuant to the Equity Incentive Plan may be subject to the vesting terms, if any, a Participation Threshold and/or any other terms set forth in the applicable grant agreements by and between the Company and the holder of the Incentive Units.\n(c) In the event that any Incentive Units are granted pursuant to the Equity Incentive Plan after the Effective Date, the Board shall be authorized to establish a \u201cparticipation threshold\u201d with respect to the subset of Incentive Units granted on such date (a \u201cParticipation Threshold\u201d). The Participation Threshold for any subset of Incentive Units granted on the same date shall be calculated as of the time immediately prior to the issuance of such Incentive Units and, unless otherwise determined by the Board, shall not be less the Net Equity Value as of such time. Notwithstanding the foregoing, the Participation Threshold of a subset of Incentive Units shall not be less than zero. The Participation Threshold of a subset of Incentive Units shall be met at such time as the aggregate prior and current distributions under Section 4.1 with respect to any Common Units and any Incentive Units with a lower Participation Threshold than that of the subset in question equals the Participation Threshold of that subset of Incentive Units. For the avoidance of any doubt, in the event that any Incentive Units are not entitled to participate in distributions under Section 4.1 (because their applicable Participation Threshold has not been reached), the amount distributable to such Incentive Units but for the limitation imposed by this Section 3.7(c) shall be distributed to the holders of Common Units and Incentive Units with a lower Participation Threshold in accordance with the provisions of Section 4.1.", "samples": [{"hash": "5unjN7VTLZU", "uri": "/contracts/5unjN7VTLZU#incentive-units", "label": "Transaction Agreement (Nord Anglia Education, Inc.)", "score": 26.4045181274, "published": true}, {"hash": "isHSnOmJ3Lb", "uri": "/contracts/isHSnOmJ3Lb#incentive-units", "label": "Transaction Agreement (Nord Anglia Education, Inc.)", "score": 24.4045181274, "published": true}], "snippet_links": [{"key": "as-of-the-effective-date", "type": "clause", "offset": [4, 28]}, {"key": "the-company-has", "type": "clause", "offset": [30, 45]}, {"key": "reserved-for-issuance", "type": "definition", "offset": [62, 83]}, {"key": "equity-incentive-plan", "type": "clause", "offset": [94, 115]}, {"key": "to-the-extent", "type": "clause", "offset": [169, 182]}, {"key": "after-the-effective-date", "type": "clause", "offset": [195, 219]}, {"key": "the-plan", "type": "clause", "offset": [258, 266]}, {"key": "the-incentive", "type": "clause", "offset": [349, 362]}, {"key": "tax-withholding-obligation", "type": "clause", "offset": [489, 515]}, {"key": "number-of", "type": "definition", "offset": [595, 604]}, {"key": "increased-by", "type": "clause", "offset": [639, 651]}, {"key": "at-any-time", "type": "clause", "offset": [662, 673]}, {"key": "sole-discretion", "type": "clause", "offset": [681, 696]}, {"key": "each-member", "type": "definition", "offset": [708, 719]}, {"key": "units-issued", "type": "clause", "offset": [751, 763]}, {"key": "profits-and-losses", "type": "clause", "offset": [829, 847]}, {"key": "the-capital", "type": "clause", "offset": [857, 868]}, {"key": "of-the-company", "type": "clause", "offset": [870, 884]}, {"key": "the-award", "type": "clause", "offset": [904, 913]}, {"key": "intended-recipient", "type": "definition", "offset": [974, 992]}, {"key": "restricted-units", "type": "definition", "offset": [1033, 1049]}, {"key": "approved-by-the-board", "type": "definition", "offset": [1082, 1103]}, {"key": "other-steps", "type": "clause", "offset": [1125, 1136]}, {"key": "other-documents", "type": "definition", "offset": [1155, 1170]}, {"key": "pursuant-to-the", "type": "clause", "offset": [1230, 1245]}, {"key": "subject-to-the", "type": "clause", "offset": [1275, 1289]}, {"key": "vesting-terms", "type": "clause", "offset": [1290, 1303]}, {"key": "participation-threshold", "type": "clause", "offset": [1315, 1338]}, {"key": "other-terms", "type": "definition", "offset": [1350, 1361]}, {"key": "grant-agreements", "type": "clause", "offset": [1390, 1406]}, {"key": "the-company-and-the-holder", "type": "clause", "offset": [1422, 1448]}, {"key": "in-the-event", "type": "clause", "offset": [1477, 1489]}, {"key": "board-shall", "type": "definition", "offset": [1595, 1606]}, {"key": "to-establish", "type": "definition", "offset": [1621, 1633]}, {"key": "with-respect-to", "type": "clause", "offset": [1662, 1677]}, {"key": "units-granted", "type": "clause", "offset": [1702, 1715]}, {"key": "the-participation", "type": "clause", "offset": [1760, 1777]}, {"key": "prior-to-the-issuance-of", "type": "clause", "offset": [1894, 1918]}, {"key": "net-equity-value", "type": "definition", "offset": [2009, 2025]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [2043, 2072]}, {"key": "current-distributions", "type": "definition", "offset": [2274, 2295]}, {"key": "section-41", "type": "clause", "offset": [2302, 2313]}, {"key": "common-units", "type": "definition", "offset": [2334, 2346]}, {"key": "not-entitled", "type": "definition", "offset": [2588, 2600]}, {"key": "participate-in", "type": "definition", "offset": [2604, 2618]}, {"key": "holders-of", "type": "clause", "offset": [2855, 2865]}, {"key": "in-accordance-with", "type": "definition", "offset": [2936, 2954]}, {"key": "the-provisions-of-section", "type": "clause", "offset": [2955, 2980]}], "size": 7, "hash": "693203ffdb3fcf1f36c26e1376edc455", "id": 4}, {"snippet": "The Units of Aggregator issued to Executive hereunder (the \u201cIncentive LLC Units\u201d) and the corresponding LLC Units of Cure TopCo issued to Aggregator (the \u201cCorresponding Incentive Units\u201d) are subject to the vesting conditions set forth in this Section 3. A portion of the Incentive LLC Units and Corresponding Incentive Units, as set forth on Appendix B, shall be subject to time-based vesting conditions (the \u201cTime-Based Units\u201d) and a portion of the Incentive LLC Units and Corresponding Incentive Units, as set forth on Appendix B, shall be subject to performance-based and time-based vesting conditions, as applicable (the \u201cPerformance-Based Units\u201d). For purposes of this Agreement and the Aggregator LLC Agreement, the Incentive LLC Units and Corresponding Incentive Units which have become vested in accordance with this Section 3 shall be referred to herein as the \u201cVested Units\u201d and the remaining Incentive LLC Units and Corresponding Incentive Units shall be referred to herein as the \u201cUnvested Units.\u201d The Incentive LLC Units are subject to the restrictions set forth in this Agreement.", "samples": [{"hash": "jFoURtad9V", "uri": "/contracts/jFoURtad9V#incentive-units", "label": "Incentive Unit Agreement (Signify Health, Inc.)", "score": 33.3394927979, "published": true}, {"hash": "j6bRvsg7nlo", "uri": "/contracts/j6bRvsg7nlo#incentive-units", "label": "Incentive Unit Agreement (Signify Health, Inc.)", "score": 33.3394927979, "published": true}, {"hash": "fFaXzq8QMqB", "uri": "/contracts/fFaXzq8QMqB#incentive-units", "label": "Incentive Unit Agreement (Signify Health, Inc.)", "score": 33.1670074463, "published": true}], "snippet_links": [{"key": "the-units", "type": "clause", "offset": [0, 9]}, {"key": "to-executive", "type": "clause", "offset": [31, 43]}, {"key": "llc-units", "type": "clause", "offset": [70, 79]}, {"key": "subject-to-the", "type": "clause", "offset": [191, 205]}, {"key": "vesting-conditions", "type": "definition", "offset": [206, 224]}, {"key": "section-3", "type": "definition", "offset": [243, 252]}, {"key": "a-portion", "type": "definition", "offset": [254, 263]}, {"key": "the-incentive", "type": "clause", "offset": [267, 280]}, {"key": "appendix-b", "type": "definition", "offset": [342, 352]}, {"key": "based-vesting", "type": "clause", "offset": [379, 392]}, {"key": "for-purposes-of-this-agreement", "type": "definition", "offset": [653, 683]}, {"key": "aggregator-llc-agreement", "type": "definition", "offset": [692, 716]}, {"key": "in-accordance-with", "type": "definition", "offset": [801, 819]}, {"key": "unvested-units", "type": "definition", "offset": [993, 1007]}, {"key": "the-restrictions", "type": "clause", "offset": [1049, 1065]}, {"key": "in-this-agreement", "type": "definition", "offset": [1076, 1093]}], "size": 7, "hash": "f8ff7c2ccb29b8172681328135eaa45d", "id": 3}, {"snippet": "With respect to the Class M Units (the \u201cIncentive Units\u201d) granted pursuant to the equity-based incentive compensation programs of the Company and its affiliates (the \u201cEquity Award Program\u201d), (i) each grant of Incentive Units was duly authorized no later than the date on which the grant of such Incentive Unit was by its terms to be effective (the \u201cGrant Date\u201d) by all necessary corporate action, including, as applicable, approval by the board of directors of the Company or an affiliate (or a duly constituted and authorized committee thereof), and the award agreement governing such grant (if any) was duly executed and delivered by each party thereto, (ii) each such grant was made in accordance with the terms of the Equity Award Program and all other applicable laws, and (iii) each such grant was properly accounted for in accordance with GAAP in the financial statements (including the related notes) of the Company.", "samples": [{"hash": "lcEqxY5H91A", "uri": "/contracts/lcEqxY5H91A#incentive-units", "label": "Underwriting Agreement (Duckhorn Portfolio, Inc.)", "score": 34.2566719055, "published": true}, {"hash": "jSrISzS8Twk", "uri": "/contracts/jSrISzS8Twk#incentive-units", "label": "Underwriting Agreement (Duckhorn Portfolio, Inc.)", "score": 33.5147171021, "published": true}, {"hash": "ggALyWvVA5R", "uri": "/contracts/ggALyWvVA5R#incentive-units", "label": "Underwriting Agreement (Duckhorn Portfolio, Inc.)", "score": 32.7782325745, "published": true}], "snippet_links": [{"key": "class-m-units", "type": "definition", "offset": [20, 33]}, {"key": "pursuant-to-the", "type": "clause", "offset": [66, 81]}, {"key": "incentive-compensation-programs", "type": "definition", "offset": [95, 126]}, {"key": "company-and-its-affiliates", "type": "clause", "offset": [134, 160]}, {"key": "equity-award-program", "type": "definition", "offset": [167, 187]}, {"key": "grant-of-incentive-units", "type": "clause", "offset": [200, 224]}, {"key": "duly-authorized", "type": "clause", "offset": [229, 244]}, {"key": "the-grant", "type": "clause", "offset": [277, 286]}, {"key": "terms-to", "type": "definition", "offset": [321, 329]}, {"key": "grant-date", "type": "clause", "offset": [349, 359]}, {"key": "necessary-corporate-action", "type": "clause", "offset": [369, 395]}, {"key": "board-of-directors-of-the-company", "type": "clause", "offset": [439, 472]}, {"key": "an-affiliate", "type": "clause", "offset": [476, 488]}, {"key": "duly-constituted", "type": "clause", "offset": [495, 511]}, {"key": "authorized-committee", "type": "definition", "offset": [516, 536]}, {"key": "award-agreement", "type": "clause", "offset": [555, 570]}, {"key": "executed-and-delivered", "type": "clause", "offset": [610, 632]}, {"key": "by-each-party", "type": "clause", "offset": [633, 646]}, {"key": "in-accordance-with", "type": "definition", "offset": [686, 704]}, {"key": "terms-of-the", "type": "clause", "offset": [709, 721]}, {"key": "other-applicable-laws", "type": "clause", "offset": [751, 772]}, {"key": "the-financial-statements", "type": "definition", "offset": [854, 878]}, {"key": "related-notes", "type": "definition", "offset": [894, 907]}], "size": 4, "hash": "4398d993857a1b5c93f7c8dd71ef3244", "id": 8}, {"snippet": "(a) The following Incentive Units are hereby created, subject to the adjustments provided for in this Section 3.3:\n(i) 990,414 \u201cTier I Units,\u201d which are held, as of the date hereof, by those individuals set forth on Exhibit A in the amount opposite each such individual\u2019s name in the column entitled \u201cTier I Units;\u201d\n(ii) 1,000,000 \u201cTier II Units,\u201d which are held, as of the date hereof, by those individuals set forth on Exhibit A in the amount opposite each such individual\u2019s name in the column entitled \u201cTier II Units;\u201d and\n(iii) 1,000,000 \u201cTier III Units,\u201d which are held, as of the date hereof, by those individuals set forth on Exhibit A in the amount opposite each such individual\u2019s name in the column entitled \u201cTier III Units.\u201d\n(b) The Incentive Units are non-voting, and subject to vesting, forfeiture and termination as follows:\n(A) The Tier I Units held by each Employee shall vest ratably over a three-year period following the grant of the \u201cLegacy Tier I Units\u201d of Rice Energy Appalachia Holdings, LLC that corresponds, pursuant to the Master Reorganization Agreement, to the Tier I Units granted thereunder to such Employee, with one-third vesting on the first anniversary of such grant, an additional one-third vesting on the second anniversary of such grant and the remaining one-third vesting on the third anniversary of such grant (with vesting between such anniversaries occurring pro rata determined by multiplying the number of such Incentive Units that would vest on the next annual vesting date by a fraction with a numerator equal to the number of full months which have then elapsed since the last vesting date and a denominator of 12, and rounding to the closest whole number).\n(B) The Tier II Units held by each Employee shall vest only upon and concurrently with Rice Energy receiving, pursuant to Section 4.3, $682,212,620.04 (in cash or otherwise) in the aggregate.\n(C) The Tier III Units held by each Employee shall vest only upon and concurrently with Rice Energy receiving, pursuant to Section 4.3, $909,616,826.72 (in cash or otherwise) in the aggregate.\n(ii) Unless otherwise agreed by the Board, all Incentive Units that have not yet vested in accordance with the vesting requirements set forth in Section 3.3(b)(i) that are held by an Employee shall automatically, without any action required of any Person, be forfeited and thereby become null and void, if and when such Person\u2019s status as an Employee is terminated for any reason or without reason, including by termination, resignation, death or disability, and any vested, unforfeited Incentive Units held by such Person shall, upon such termination, remain non-voting.\n(iii) Anything herein to the contrary notwithstanding, unless otherwise agreed by the Board in the case of Section 3.3(b)(iii)(B), all Incentive Units held by an Employee (regardless of whether vested or unvested) shall automatically be forfeited and thereby become null and void if and when such Person\u2019s status as an Employee is terminated:\n(A) for \u201ccause,\u201d which shall mean by reason of such holder\u2019s: (1) conviction of, or plea of nolo contendere to, any felony or to any crime or offense causing substantial harm to PublicCo, the Company or any of their respective Affiliates or involving acts of theft, fraud, embezzlement, moral turpitude or similar conduct, (2) repeated intoxication by alcohol or drugs during the performance of such holder\u2019s duties in a manner that materially and adversely affects the holder\u2019s performance of such duties, (3) malfeasance, in the conduct of such holder\u2019s duties, including (I) misuse or diversion of funds of PublicCo, the Company or any of their respective Affiliates, (II) embezzlement or (III) misrepresentations or concealments on any written reports submitted to the Company or its Affiliates, (4) violation of any provision of this Agreement or of such Person\u2019s agreements with any of PublicCo, the Company or their respective Affiliates or (5) failure to perform the duties of such holder\u2019s employment or service relationship with PublicCo, the Company or any of their respective Affiliates, or failure to follow or comply with the reasonable and lawful written directives of the Board or the managers or directors of the Person that employs such holder or for whom such holder provides services; or\n(B) by such Employee\u2019s resignation or early termination of service relationship.\n(c) Upon any forfeiture or other termination of Incentive Units, the Company shall amend Exhibit A to reflect such occurrence.\n(d) The Company shall not issue any Incentive Units following the Effective Date.", "samples": [{"hash": "a9zjAtR9XO5", "uri": "/contracts/a9zjAtR9XO5#incentive-units", "label": "Limited Liability Company Agreement (Rice Energy Inc.)", "score": 25.0930862427, "published": true}, {"hash": "8eqhJP63RSG", "uri": "/contracts/8eqhJP63RSG#incentive-units", "label": "Limited Liability Company Agreement (Rice Energy Inc.)", "score": 25.0191650391, "published": true}, {"hash": "6raptazx82F", "uri": "/contracts/6raptazx82F#incentive-units", "label": "Master Reorganization Agreement (Rice Energy Inc.)", "score": 25.0191650391, "published": true}], "snippet_links": [{"key": "subject-to-the", "type": "clause", "offset": [54, 68]}, {"key": "section-33", "type": "definition", "offset": [102, 113]}, 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Employment"], ["performance-based-units", "Performance-Based Units"], ["call-rights", "Call Rights"], ["the-closing", "The Closing"]], "size": 133, "id": "incentive-units", "related": [["restricted-share-units", "Restricted Share Units", "Restricted Share Units"], ["units", "Units", "Units"], ["forfeiture-of-restricted-stock-units", "Forfeiture of Restricted Stock Units", "Forfeiture of Restricted Stock Units"], ["award-of-restricted-stock-units", "Award of Restricted Stock Units", "Award of Restricted Stock Units"], ["award-of-restricted-shares", "Award of Restricted Shares", "Award of Restricted Shares"]], "related_snippets": [], "updated": "2025-11-19T04:40:43+00:00", "also_ask": ["What key terms must be defined to ensure enforceability of Incentive Units?", "How can vesting schedules for Incentive Units be structured to maximize retention and flexibility?", "What are the most common pitfalls or ambiguities in drafting Incentive Unit provisions?", "How do Incentive Units compare to stock options or profits interests in terms of tax and legal risk?", "What negotiation leverage points exist when allocating or repurchasing Incentive Units?"], "drafting_tip": "Define eligibility criteria and vesting schedule to ensure clarity and prevent disputes; specify transfer restrictions to maintain control over ownership.", "explanation": "The Incentive Units clause defines the terms under which equity-based compensation, such as units or shares, is granted to employees, consultants, or other service providers as an incentive for performance or continued service. Typically, this clause outlines eligibility, the vesting schedule, and any conditions or restrictions on the units, such as forfeiture upon termination or transfer limitations. Its core function is to align the interests of recipients with those of the company, motivating key contributors and helping to attract and retain talent by offering a stake in the company\u2019s future success."}, "json": true, "cursor": ""}}