Definition of Potential Unit


Potential Unit means a right granted to a Participant under the Plan that remains contingent until such Potential Unit becomes an Earned Unit pursuant to the Plan.
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Examples of Potential Unit in a sentence

The Board may amend the Plan at any time and from time to time; provided, however, that no such amendment shall adversely affect any right relating to any Potential Unit or Earned Unit actually granted prior to such amendment without the consent of the affected Participant.
Each Potential Unit granted to a Participant and not thereafter earned or cancelled shall automatically become one Earned Unit (i) upon a DLJMB Liquidation Event, if the Participant is then employed by the Company or any Subsidiary or (ii) upon action of the Board pursuant to Section 7.
Potential Unit that is earned in accordance with the Plan shall be an "Earned Unit." So long as a Participant remains continuously employed by the Company or any Subsidiary, Potential Units granted to such Participant shall become Earned Units based on the Earning Schedule in the Eligibility Notice granting such Potential Units.
Each Potential Unit that is earned in accordance with the Plan shall be an "Earned Unit." So long as a Participant remains continuously employed by the Company or any Subsidiary, Potential Units granted to such Participant shall become Earned Units based on the Earning Schedule in the Eligibility Notice granting such Potential Units; provided, however, that no Potential Unit shall become an Earned Unit after a DLJMB Liquidation Event.
The maximum number of Potential Units for which Eligibility Notices may be given under the Plan is 75,000 (provided, however, that any Potential Unit that is cancelled shall thereafter again be eligible to be included in any Eligibility Notice).