Incentive Unit Grant Agreement definition
Examples of Incentive Unit Grant Agreement in a sentence
Unless otherwise indicated, any capitalized term used but not defined herein shall have the meaning ascribed to such term in the Plan or the Incentive Unit Grant Agreement, as applicable.
This Agreement contains the entire understanding of the parties with respect to the subject matter hereof (other than any other documents expressly contemplated herein or in the Plan) and supersedes any prior agreements between the Company and the Participant or between the Partnership and the Participant other than the Incentive Unit Grant Agreement.
For the avoidance of doubt, the determination of the Advent Group’s MOIC for the purpose of determining vesting of Restricted Stock shall in all events be consistent with the determination of the Advent Group’s MOIC for the purpose of determining the vesting of Incentive Units under the Incentive Unit Grant Agreement.
The Advent Group’s MOIC shall be determined in accordance with the terms of the Incentive Unit Grant Agreement, including Section 2.3(b)(vi).
I, the undersigned spouse of the securityholder named below (the “Securityholder”), hereby acknowledge that I have read the foregoing Class C Common Incentive Unit Grant Agreement and the Sixth Amended and Restated Limited Liability Company Agreement of ▇▇▇▇ Specialty Group, LLC (collectively, the “Agreements”) and that I fully understand their contents.
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 “Participation Threshold” amount with respect to each Class B Common Unit granted on such date.
On the Effective Date, and pursuant to the terms and subject to the conditions set forth in the Incentive Unit Grant Agreement between Parent and the Executive and the LLC Agreement, Executive shall be granted 145,834 Class C Units, 52,083 Class D Units and 52,083 Class E Units.
The Participant acknowledges that the Participant is receiving the Restricted Stock described herein in full satisfaction of the Company’s (and 21st Century’s) obligations under the Incentive Unit Grant Agreement and that the Participant retains no further rights or claims thereunder.
The Incentive Units shall be subject to the terms and conditions of the Incentive Unit Grant Agreement attached as Exhibit A hereto and the terms of Parent’s LLC Agreement (as amended from time to time).
This Incentive Unit grant shall be governed by the terms and conditions of the Incentive Unit Grant Agreement entered into by yourself and the Parent and the Parent’s Limited Liability Company Agreement, as amended or restated from time to time.