Hurdle Amount. The Incentive Unit Hurdle Amount for the Incentive Units being granted to the Participant pursuant to this Agreement is equal to $0, such amount being determined by the General Partner as of the Grant Date pursuant to Section 3.04 of the Partnership Agreement; provided, that the Incentive Unit Hurdle Amount shall, in any event, be consistent with the intended characterization of the Incentive Units being granted hereunder as a “profits interest.”
Appears in 4 contracts
Samples: Incentive Unit Grant Agreement (Sovos Brands, Inc.), Incentive Unit Grant Agreement (Sovos Brands, Inc.), Incentive Unit Grant Agreement (Sovos Brands, Inc.)
Hurdle Amount. The Incentive Unit Hurdle Amount for the Incentive Units being granted to the Participant pursuant to this Agreement is equal to $0150, such amount being determined by the General Partner as of the Grant Date pursuant to Section 3.04 of the Partnership Agreement; provided, that the Incentive Unit Hurdle Amount shall, in any event, be consistent with the intended characterization of the Incentive Units being granted hereunder as a “profits interest.”
Appears in 3 contracts
Samples: Incentive Unit Grant Agreement (Sovos Brands, Inc.), Incentive Unit Grant Agreement (Sovos Brands, Inc.), Incentive Unit Grant Agreement (Sovos Brands, Inc.)
