Common use of Issuance of Executive Units Clause in Contracts

Issuance of Executive Units. (a) Upon the closing of the transactions contemplated in the Contribution Agreement the Partnership will issue 122,590 Common Units and 284,000 Management Units to Executive, in consideration of the contributions set forth in the Contribution Agreement and Executive’s continued performance as an employee of the Partnership or one or more Subsidiaries or Affiliates of the Partnership. The Management Units acquired pursuant to this Section 1(a) shall be subject to the vesting schedule set forth in Section 2 below.

Appears in 1 contract

Samples: Unit Agreement (Buckeye GP Holdings L.P.)

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Issuance of Executive Units. (a) Upon the closing of the transactions contemplated in the Contribution Agreement the Partnership will issue 122,590 8,756 Common Units and 284,000 142,000 Management Units to Executive, in consideration of the contributions set forth in the Contribution Agreement and Executive’s continued performance as an employee of the Partnership or one or more Subsidiaries or Affiliates of the Partnership. The Management Units acquired pursuant to this Section 1(a) shall be subject to the vesting schedule set forth in Section 2 below.

Appears in 1 contract

Samples: Unit Agreement (Buckeye GP Holdings L.P.)

Issuance of Executive Units. (a) Upon the closing of the transactions contemplated in the Contribution Agreement the Partnership will issue 122,590 11,263 Common Units and 284,000 136,200 Management Units to Executive, in consideration of the contributions set forth in the Contribution Agreement and Executive’s continued performance as an employee of the Partnership or one or more Subsidiaries or Affiliates of the Partnership. The Management Units acquired pursuant to this Section 1(a) shall be subject to the vesting schedule set forth in Section 2 below.

Appears in 1 contract

Samples: Amended and Restated Unit Agreement (Buckeye GP Holdings L.P.)

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Issuance of Executive Units. (a) Upon the closing of the transactions contemplated in the Contribution Agreement the Partnership will issue 122,590 678,623 Common Units to the Trust and 284,000 426,000 Management Units to Executive, in consideration of the contributions set forth in the Contribution Agreement and Executive’s continued performance as an employee of the Partnership or one or more Subsidiaries or Affiliates of the Partnership. The Management Units acquired pursuant to this Section 1(a) shall be subject to the vesting schedule set forth in Section 2 below.

Appears in 1 contract

Samples: Unit Agreement (Buckeye GP Holdings L.P.)

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