Contemporaneously with the execution and delivery of this Agreement, the Private Owner shall execute and deliver to the Company and the Initial Member the LLC Operating Agreement.
The rights of the Participant with respect to the Acquired Units are subject to modification and termination in certain events as provided in the Plan, this Agreement and the Management LLC Operating Agreement.
This Agreement and the Management LLC Operating Agreement supersede all prior agreements and understandings between the parties with respect to its subject matter.
The Participant hereby acknowledges receipt of a copy of the Management LLC Operating Agreement.
The Participant acknowledges that upon becoming a member of Management LLC, the Participant will be subject to all the terms and conditions provided in the Limited Liability Company Operating Agreement of KRATON Management LLC (Management LLC Operating Agreement).