Tranche. 1 Performance Units. One-hundred percent (100%) of the Tranche 1 Performance Units shall become Vested Units upon the consummation of a Change in Control if the Advent Group achieves a MOIC equal to at least two (2), subject to the Participant’s continued employment with the Partnership or one of its Subsidiaries through the date of such Change in Control. For the avoidance of doubt, the Tranche 1 Performance Units shall not vest if the Advent Group receives Advent Cash Amounts resulting in a MOIC of less than two (2).
Appears in 4 contracts
Samples: Incentive Unit Grant Agreement (Sovos Brands, Inc.), Incentive Unit Grant Agreement (Sovos Brands, Inc.), Incentive Unit Grant Agreement (Sovos Brands, Inc.)
