Value Units Sample Clauses

Value Units. A number of Value Units that have been granted to the Member prior to the Termination Date shall become vested such that in the aggregate fifty percent (50%) of such Value Units shall become vested and non-forfeitable for a period of twenty-four (24) months following the Termination Date, subject to subsection c. below and subject to the satisfaction of applicable performance conditions in the Company Agreements. With respect to such vested Value Units, for such twenty-four (24) month period Member shall be entitled to the same rights, privileges and benefits as all other Members of applicable Company (other than Acquisition III LLC) that own Value Units prior to or following the Termination Date. Upon the completion of such twenty-four (24) month period, in the event that (i) an Exit Event has not yet occurred, and (ii) no definitive agreement shall be in effect regarding a transaction, which, if consummated, would result in an Exit Event, then all Value Units granted to Member shall be forfeited and of no further benefit to Member (it being understood that in the event that such forfeiture does not occur as a result of the operation of clause (ii) of this Section 1(b) but the definitive agreement referred to in such clause (ii) subsequently terminates without consummation of an Exit Event, then the forfeiture of all of the Value Units shall thereupon occur).