Restricted Equity Sample Clauses

Restricted Equity. Employee shall receive 200,000 Class A Units (collectively, the “Equity Award”) of the Company pursuant to the terms of the BJ Services, LLC Class A Unit Incentive Plan (the “Plan”). If there are any conflicts between the terms of the Plan and this Employment Agreement with respect to such Equity Award, the terms of the Plan shall control.

Restricted Equity. Executive shall receive 50,000 Class C Units and 50,000 Class D Units of Holdings (the “Equity Award”) which represents 1% of the equivalent company value, pursuant to the terms of Restricted Unit Award Agreements that will be entered into by and between Holdings and Executive (the “Restricted Unit Award Agreements”). If there are any conflicts between the applicable Restricted Unit Award Agreement and this Employment Agreement with respect to the Equity Award, such Restricted Unit Award Agreement shall control.

Restricted Equity. Neither the Company nor any of its subsidiaries has ever transferred Units as compensation for services to any Employee that was subject to a “substantial risk of forfeiture” within the meaning of Section 83 of the Code with respect to which a valid election under Section 83(b) of the Code has not been made.

Restricted Equity. Contingent upon Employee signing this Agreement and not timely revoking, the Company agrees to permit 171 Restricted Stock Units to vest on August 21, 2019 and to accelerate the vesting of certain awards of the Employee’s Equity according to this section 2: a. On the Effective Date, 65,462 Restricted Common Units - Class B shall vest; b. Subject to Employee’s ongoing obligations under this Agreement, the CINSA, and the Employment Agreement, six (6) months after the Effective Date, 32,731 Restricted Common Units - Class B shall vest; and c. Subject to Employee’s ongoing obligations under this Agreement, the CINSA, and the Employment Agreement, on July 31, 2020, 32,731 Restricted Common Units - Class B shall vest. Upon the Effective Date, Employee’s rights to the Equity described in Section 2(a) shall not be restricted except as set forth in the Company’s ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Policy and according to applicable law and regulations. Employee acknowledges and agrees that, in the event he breaches this Agreement, the CINSA, or the Employment Agreement, he shall forfeit any Equity that has yet to vest in accordance with the timetables set forth in this Section 2. Furthermore, Employee acknowledges and agrees that, except as provided in this Section 2, he shall forfeit all right, title, and interest in any and all unvested equity, including Restricted Common Units, Options, and/or Restricted Stock Units. Except as amended hereby, Employee’s equity awards shall continue to be subject to the Equity Agreements.