Common use of Unit Options Clause in Contracts

Unit Options. As of the Effective Date, the Employee will receive an award of non-qualified options to purchase up to 50,000 Units of Linn Energy at a per share exercise price equal to the fair market value of a Unit as of the date of grant, which shall be awarded under the terms of the Linn Energy, LLC Long Term Incentive Plan or any successor plan, as it may be in effect from time to time (the “Incentive Plan”), and subject to a service-based vesting schedule and such other terms and conditions set forth in the applicable option agreement.

Unit Options. As of the Effective Date, the Employee will receive an award of non-qualified options to purchase up to 50,000 30,000 Units of Linn Energy at a per share exercise price equal to the fair market value of a Unit as of the date of grant, which shall be awarded under the terms of the Linn Energy, LLC Long Term Incentive Plan or any successor plan, as it may be in effect from time to time (the “Incentive Plan”), and subject to a service-based vesting schedule and such other terms and conditions set forth in the applicable option agreement.

Unit Options. As of the Effective Date, the Employee will receive an award of non-qualified options to purchase up to 50,000 Units of Linn Energy at a per share exercise price equal to the fair market value of a Unit as of the date of grant, which shall be awarded under the terms of the Linn Energy, LLC Long Long-Term Incentive Plan or any successor plan, as it may be in effect from time to time (the “Incentive Plan”), and subject to a service-based vesting schedule and such other terms and conditions set forth in the applicable option agreement.